announcing

In a little less than five months Warren Buffetthe “Oracle of Omaha” will fulfill nine and a half decades of life. The years nevertheless have kept their acuity, interest and especially their ability to amaze intact. He has demonstrated this weekend, when after the massive share of shareholders of Berkshire Hathaway and for pasmo from his team (including who his successor will be) advertisement His intention to leave the position of CEO of the holding company At the end of the year. The position will pass to the current vice president, Greg Abel. Warren Buffet did not mention his other responsibility, that of President of the Council, which A priori will happen to his son Howard; But the announcement recalls one of the maxims shared by the famous Omaha investor: his rejection of the long “dynasties”. So much is in fact that, beyond the Berkshire Shareholders Board, Buffett has already left it All tied so that the enormous fortune that adds its actions in Berkshire is destined for philanthropic work. “The time has come”. Throughout his extensive and brilliant career as a investor, Warren Buffet has done more than earning billions of dollars and becoming the fifth largest fortune on the planet, according to The list Forbes. It has also become a respected voice. And feared. It was clear on Saturday during the massive share of shareholders of Berkshire Hathaway held in Omaha (Nebraska) with the assistance of thousands of people. There, in addition to talking about the accounts of the holding companyconfirm your Huge volume of liquid In full stock storm and launch some other Indirect with political reading, buffet gave the big surprise, “the news of the day”, in His own words: The veteran investor advertisement His desire to leave the position of executive director of Berkshire Hathaway. He will do it at the end of this year, when he passes the reins of the current vice president, Greg Abel (62), whom Buffett chose as his successor four years agobut that Saturday was not aware of the last plans of the businessman. In fact Buffett had only shared them with his children. Click on the image to go to Tweet. What exactly will it do? “The time has come for Greg to become the CEO of the company at the end of the year and I want to communicate it to the directors and give that recommendation,” Buffett explained. In his announcement he referred exclusively to the position of CEO, not that of President of the Council, responsibility that he also holds. According to revealed in January The Wall Street Journalthe succession plan goes through his son Howie Buffett (70 years) who assumes the role of non -executive president of Berkshire Hathaway. Your mission will be to maintain the corporate culture of the holding company. Even if the reveo to Greg Abel is going to spend, Buffett explained that he does not have “No intention” To sell his participations from Berkshire Hathaway, he will remain as a shareholder and assured that he will continue “around there”, although he guaranteed that the responsibility of the CEO will fall on his successor. “I think Berkshire’s perspectives will be better under the direction of Greg than under mine.” The Holding CEO will have the challenge of taking over from a legendary figure of finance that Berkshire Hathayway turned into a giant investor with a market capitalization that has grown in a form practically constant From the 90s and it is one of the great US companies, just behind the “Big Tech.” The future of his fortune. It is not the first time that Warren Buffett clears what will be the future of his legacy. In November 2024 The investor published A letter aimed at the shareholders in which he already gave some clues about what he planned to do with his fortune, which was then valued in 149.7 billion of dollars and Forbes places now in around 168,200. His desire happens because much of that wealth is destined for philanthropic causes, a commitment assumed by buffet himself in 2006. In the Charter he shared in fact his decision to convert 1,600 of his class A actions into 2.4 million class B shares, with less right to vote, to distribute them among family foundations. Most of them was dedicated to Susan Thompson Buffetta beneficial organization created in 1964 and is named after Buffett’s first woman. A 56% cut in eight years. “The donations I make today reduce my class A actions from Berkshire to 206,363, 56.6% less than in 2006,” he detailed in Your letter At the end of 2024, in which another key fact owes: at his death, his children will be responsible for “gradually distributing” all their participations in the holding, which they represented at that time around 99.5% of their entire heritage. The tycoon therefore leaves his children the task of distributing everything possible to beneficial causes. In case it does not give them time in life (he is between 67 and 71 years old), the mission will go to three anonymous trusts that would replace them. “I have never wanted a dynasty”. Buffett’s letter is interesting for something else: in it the investor shares reflections on the future, legacy and family. And it is pronounced redhead against long business lineages. “I have never wanted to create a dynasty or pursue any plan that extended beyond the children. I know all three well and fully trust them. Future generations are another issue,” reveals. “Who can foresee the priorities, intelligence and fidelity of successive generations to deal with the distribution of extraordinary wealth in the midst of what can be a very different philanthropic panorama? Even so, the enormous wealth that I have gathered can take longer to deploy than what my children live. And it is likely that the decisions of the tomorrow take better three brains buffet trench Before announcing the designation of three successor trusts, younger than their children, who arrived at the time would be … Read more