Stock market legend Warren Buffett has chosen his son Howard to be his successor at the Berkshire Hathaway conglomerate. This is what investors should know about “Howie” Buffett.
• Son Howie is set to succeed Warren Buffett at Berkshire
• Howard G. Buffett with a varied career path
• Howie: Farmer, businessman, former politician, philanthropist
Warren Buffett, who is over 90 years old, is one of the richest people in the world. But after his death, his three children will not receive most of his assets. Instead, almost all of his remaining wealth, including his $140 billion in Berkshire shares, will go into a new charitable foundation that will be managed by his three children.
Berkshire Hathaway stays in the family
What will happen to Warren Buffet’s company Berkshire Hathaway after he dies is now apparently clear. It has been clear for some time that Greg Abel, a long-time employee of Buffett, will take over the CEO position and thus the operational management of Berkshire after his death. It remained unclear for a long time who would become non-executive chairman after Warren Buffett, but now the star investor has made up his mind: He revealed to the Wall Street Journal that his middle son Howard, known as Howie, Berkshire Hathaway after his father’s death. He also revealed why Howie, who doesn’t exactly have a straight career, got this job: “He gets it because he’s my son. I’m very, very, very lucky that I trust all three of my children.” said Buffett.
Howard Buffett’s family
Howard Graham Buffett was born on December 16, 1954. He was named after Howard Buffett, his grandfather, and Benjamin Graham, Warren Buffett’s favorite professor.
In the following years, Howard G. Buffett grew up in Omaha, Nebraska, with two siblings – his older sister Susan and his younger brother Peter. After his first marriage to Marcia Sue Duncan failed, he later married Devon Morse, born Devon Armor Goss, with whom he has a son, Howard Warren Buffett.
career
After dropping out of several college courses without a degree, Howard G. Buffett began farming in 1977, working on his own farm in Tekamah, Nebraska, which he rented from his father. He is an advocate of no-tillage conservation agriculture.
Howie remained loyal to agriculture at times throughout his life, but combined it with finance. Over the course of his varied career, the now 70-year-old has served on the board of directors of a number of companies, including Lindsay Corporation, Sloan Implement, ConAgra Foods and The Coca-Cola Company. From 1993 to 2004 he was a director of Coca-Cola Enterprises, the world’s largest Coca-Cola bottler.
Since 1992, he has served on the board of directors of Berkshire Hathaway Inc. and is president of Buffett Farms. As a result, he sees himself well prepared to succeed his father: “I think I’m prepared because he prepared me. That’s many years of influence and many years of teaching,” the Wall Street Journal quoted Howie as saying.
philanthropy
Warren Buffett was once called the “greatest philanthropist of all time” by Forbes. And his son has also been running his own charitable foundation for years: He is CEO and chairman of the Howard G. Buffett Foundation, which supports projects in the areas of agriculture, nutrition, water, humanitarian aid and nature conservation, with a large part of the money going to communities in Africa and Central America.
policy
Howard Graham Buffett, a Republican, was also involved in local politics. In 1989 he took over the office of county commissioner in Douglas County, Nebraska. He later also became a member and then chairman of the State Ethanol Board.
He also served as sheriff of Macon County, Illinois from 2017 to 2018 after previously serving as a deputy sheriff. He also donated millions of dollars to various law enforcement agencies and projects in central Illinois through the Howard G. Buffett Foundation.
Howie Buffett has also published eight books on conservation, wildlife, and the human condition. He has also written articles and opinion pieces for the Wall Street Journal and the Washington Post.
That’s what his siblings say
His sister Susie Buffett, who also sits on the board of Berkshire Hathaway, describes Howard as follows, according to The Economic Times: “When Howie is interested in something, he is interested 110 percent.” His younger brother Peter Buffett also spoke positively about Howard: He “feels responsible for preserving our father’s legacy. He carries the weight of the importance of Berkshire and what my father has built.”
Editorial team finanzen.net
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