New Delhi: Warren Buffett, the billionaire investor and co-founder of Berkshire Hathaway, has chosen Howard “Howie” Buffett, his middle child, to succeed him in the $1 trillion business.
The 70-year-old Howie would be the non-executive chairman of the multibillion-dollar conglomerate. Warren’s long-term strategy to ensure Berkshire Hathaway’s seamless transition has come to a head with the announcement.
The 94-year-old Warren Buffett chose Howie as his successor because he is his son. Buffett admitted that he has always enjoyed having his kids to rely on. He said he trusts each of his children completely, as per a media report.
Who is Howard “Howie” Buffett?
Although Howie was up in the shadow of his father’s enormous success, his career path has been anything but conventional.
On Warren Buffett’s advice, Howie gained real-world business experience by working at Berkshire Hathaway’s See’s Candies in Los Angeles. After establishing his own excavation business, he switched to farming. A WSJ report stated that Howie paid his father rent to run the farm that Warren Buffett purchased for him. After some time, Howie developed a strong support for no-till farming, emphasizing sustainable methods and soil conservation.
After joining the county board of commissioners in 1989, Howie went on to join the Nebraska Ethanol Board and eventually became its chairman. He was an auxiliary deputy before becoming the sheriff of Macon County, Illinois, from 2017 to 2018.
Howie has been on the boards of numerous well-known businesses since 1993, including Berkshire Hathaway, Coca-Cola Enterprises, Sloan Implement, Lindsay Corporation, ConAgra Foods, and agricultural equipment maker GSI Group.
Howie founded the Howard G. Buffett Foundation, a nonprofit organization dedicated to philanthropic endeavors and conservation. In addition, he has written eight books about wildlife, conservation, and related subjects.
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