Warren Buffett, the world's most successful billionaire investor, stock market magician and head of Berkshire Hathaway, has got his successor. According to a Reuters report, Buffett said that Greg Abel would take over the responsibility of the company after his departure. CNBC said that if something happens to me tonight, tomorrow morning Greg Abel will take over the responsibility of the company's chief executive officer. Greg is currently the Vice Chairman of Berkshire Hathaway's non-insurance business.
Even though Warren Buffett is 90 years old, till date he has never said openly when he will resign from his post. Greg Abel is the Vice Chairman of the company since 2018. There is currently no response to this statement from Berkshire. For about 15 years, there has been talk about who will be the new head of Berkshire. In 2006, when Warren Buffett was 75 years old, he first talked about his successor in a letter to share holders. Let us tell that Buffett has been running Berkshire Hathaway since 1965.
Ajit Jain number two in the race to become CEO
Apart from this, Buffett also told CNBC that if something happens to Greg Abel, Ajit Jain will take over as CEO. He is an Indian American. Ajit Jain oversees the insurance business of Berkshire Hathaway. Ajit Jain is older than Greg by 10 years. It is believed that his son Howard can be made non-executive chairman. His investment manager Todd Combs and Ted Weschler will be in the line of Chief Investment Office.
Joined the company in 1992
Abel is currently looking at many of Berkshire Hathaway's businesses. This includes companies such as Berkshire Energy, BNSF railroad, Dairy Queen Ice Cream, See's Candies, Fruit of the Loom underwear. They employ 3 lakh 9 thousand employees. Able was born in Alberta, Canada. He completed his graduation in 1984 from the University of Alberta. He was first associated with PWC, later he joined CalEnergy, a geothermal energy company. After joining there, he joined Berkshire Hathaway Energy in 1992. At that time it was known as MidAmerican Energy.