 "Warren Buffett names Howie, 70, as his successor: 'He's getting it because he's my son'")
After days of suspense, Warren Buffett, the 94-year-old co-founder, chairman and CEO of Berkshire Hathaway, has named his middle child 70-year-old Howard Graham Buffet, aka Howie Buffet, as his successor.
According to a report by the Wall Street Journal, Howie will take over as non-executive chairman of the $1 trillion worth Berkshire Hathaway from Warren Buffett.
Buffet reasoned the delay in announcing his successor, saying that he was looking for the one who could manage his £8.2 trillion corporate asset group in a manner close to his own stewardship.
Howie is ‘very lucky’
The WSJ report said that Buffett was very upfront about naming Howie his heir. “He is getting it because he’s my son… I’m very, very, very lucky in the fact that I trust all three of my children,” he said in the interview.
Why Buffett, father of 3 children, chose middle one
Buffet has three children – Howard, Peter, and Susan.
Howard, or Howie, as a child listened to Buffett’s side of telephone conversations and frequently asked questions about things the did not understand completely. As an adult, he turned to his father for advice and suggestions.
As a director on Berkshire’s board, Howie had a front-row seat as his father built Berkshire into one of the largest companies in the US.
Howie says ‘prepared’ for the role
“I feel I’m prepared for it because he prepared me. That’s a lot of years of influence and a lot of years of teaching,” Howie told WSJ.
About Buffett’s son Howie
According to WSJ report, Howie has been a sheriff, a member of the Nebraska ethanol board and a farmer. He has also served on corporate boards and runs a charitable foundation.
Since 1993, Howie has served as director on a number of corporate boards, including Berkshire, Coca-Cola Enterprises, Lindsay Corporation, Sloan Implement, and packaged-food maker ConAgra Foods.
He has also spent years as partner and investor at agricultural equipment-maker GSI Group, the WSJ report said.
From 2017-2018, Howie was sheriff of Macon County, Ill., after previously serving as an auxiliary deputy.
Howie has a son, Howard Warren Buffett with first wife Devon Morse. He also had four step-daughters when married to Morse.
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