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Warren Buffett to Hang His Boots As Berkshire Hathway CEO After 55 Years, Proposes Greg Abel as Successor
OutlookIndia
·
3m ago
Medial
Warren Buffett, the iconic CEO of Berkshire Hathaway, announced his retirement after 60 years, proposing Greg Abel as his successor. Abel, already managing the non-insurance operations, will also oversee insurance and investment decisions. Despite retiring, Buffett plans to retain his shares, underscoring confidence in Berkshire's future under Abel. His tenure saw a remarkable 19.9% annual return, doubling the S&P 500’s performance. Abel's promotion represents a significant, albeit expected, generational transition at Berkshire Hathaway.
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Warren Buffett to Step Down as Berkshire Hathaway CEO; Greg Abel Named Successor, Buffett Remains Chairman
deepnewz
·
2m ago
Medial
Warren Buffett, age 94, will step down as CEO of Berkshire Hathaway at the end of 2025, with Greg Abel named as his successor. Buffett will remain as chairman of the board. In the first quarter of 2025, Berkshire Hathaway exited its positions in Citigroup and Nubank, reduced its stake in Bank of America by over 48 million shares, and cut its holdings in Capital One by 4%. On the buying side, the company doubled its position in Constellation Brands, increased its stake in Pool Corp by 144%, and raised its holdings in Domino’s Pizza by 10%.
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Warren Buffett-led Berkshire Hathaway to hold AGM, release Q1 results on May 4
Livemint
·
1y ago
Medial
Berkshire Hathaway Inc is set to announce its first-quarter earnings on May 4, 2024, followed by its Annual Shareholders Meeting on the same day. The meeting will include a Q&A session with Chairman Warren Buffett, Vice Chairman Greg Abel, and Vice Chairman Ajit Jain.
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Berkshire Hathaway Board Votes to Keep Warren Buffett Chair, Greg Abel to Take Over as CEO By 2025-end
OutlookIndia
·
3m ago
Medial
Warren Buffett has announced his intention to step down as CEO of Berkshire Hathaway, remaining as chairman. Greg Abel, a long-time executive overseeing the firm's non-insurance businesses, will succeed Buffett as CEO by the end of 2025. The transition was announced at Berkshire’s annual shareholder meeting. Despite the leadership change, the board’s decision to retain Buffett as chairman provides reassurance to shareholders, especially during turbulent market conditions prompted by geopolitical events and trade tensions.
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Warren Buffett donates $1.1 billion worth Berkshire Hathaway stock, outlines succession plan for $147 billion fortune | Company Business News
Livemint
·
8m ago
Medial
Billionaire investor Warren Buffett has donated over $1.1 billion worth of Berkshire Hathway stocks to his family's charities and foundations. Along with the donation, Buffett outlined succession plans for his $147.4 billion fortune. He stated that his three children would inherit his fortune over a period of 10 years after his death, but also designated an undisclosed successor in case they die before receiving their full inheritance. Buffett reiterated his belief in not creating dynastic wealth and emphasized the importance of allowing families to read their wills while they are still alive to avoid conflicts.
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Warren Buffet pays tribute to Charlie Munger in letter to shareholders
Livemint
·
1y ago
Medial
Warren Buffett praised his late partner, Charlie Munger, as the architect of Berkshire Hathaway in his annual letter to shareholders. This is Buffett's first letter without Munger, who passed away in November 2023. Buffett credits Munger with shaping Berkshire's success and guiding him away from bad investment habits. Berkshire Hathaway reported strong fourth-quarter earnings, with its insurance business benefiting from improved underwriting. The conglomerate's net income reached a record $96.2 billion, boosted by the rising stock market. Berkshire also spent $9.2 billion on share repurchases in 2023.
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India question makes it to Berkshire Annual meeting; Buffett says, “a more energetic management” could consider the opportunity
Money Control
·
1y ago
Medial
During the Berkshire Annual Meeting, Warren Buffett addressed the potential opportunities in India. When asked about investing in the Indian equity market, Buffett stated that there are likely many opportunities in countries like India. However, he highlighted the importance of having insights, contacts, and an advantage in pursuing these opportunities. Buffett mentioned that Berkshire has a great reputation globally and the potential for unexplored opportunities in India. He also emphasized the dilemma Berkshire faces in competing with asset managers who may profit solely based on the amount they buy rather than the quality of their investments.
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Warren Buffett to donate $6B to five foundations
YourStory
·
1m ago
Medial
Warren Buffett is donating $6 billion worth of Berkshire Hathaway stock to five foundations, increasing his total contributions since 2006 to approximately $60 billion. The largest portion, 9.4 million shares, will go to the Bill and Melinda Gates Foundation. Other recipients include the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation, and NoVo Foundation. Buffett emphasizes his conservative investment approach and attributes his wealth to sound decisions, the American market, and compounding effects.
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'That taboo...always made me nervous': Warren Buffett slams corporates' aversion towards this word, but lauds Amazon
Business Today
·
5m ago
Medial
Warren Buffett acknowledged mistakes in capital allocation and management at Berkshire Hathaway, highlighting errors in stock investments and acquisitions as inevitable. He emphasized that postponing corrective actions is a major flaw. Evaluating managers' abilities and integrity poses a significant challenge. Buffett criticized corporations for portraying managerial infallibility and praised Amazon for its candidness in its 2021 investor letter, where it openly discussed missteps, breaking the trend of silence on corporate errors.
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Warren Buffett’s Berkshire Hathaway Trims Its Massive Stake in Apple
Livemint
·
1y ago
Medial
Berkshire Hathaway, led by Warren Buffett, sold around 1% of its stake in Apple during Q4 2023, leaving it with a 5.9% stake valued at $167 billion. This move comes as Apple faces various challenges, including regulatory scrutiny and declining sales. Berkshire also reduced its position in HP but increased its stakes in Chevron and Occidental Petroleum. Investors await Buffett's annual letter, scheduled to be released on February 24.
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Berkshire Hathaway Class A stock is selling at a discount.
Livemint
·
1m ago
Medial
Berkshire Hathaway's Class A shares are currently selling at a slight discount compared to the Class B shares. CEO Warren Buffett advises investors to consider purchasing Class A shares, despite their higher price tag. These shares, worth 1,500 times more than B shares, have been part of Berkshire Hathaway's offerings for nearly 30 years. This recommendation comes amid market fluctuations, positioning Class A shares as a potentially more valuable investment choice.
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