Billionaire Warren Buffett assured investors Wednesday that Berkshire Hathaway will be fine when he's no longer around to lead the conglomerate.
FILE - Berkshire Hathaway Chairman and CEO Warren Buffett smiles during an interview in Omaha, Neb., May 7, 2018. Buffett's company has increased its investments in five major Japanese trading houses to give Berkshire Hathaway control of 7.4% of each of those conglomerates. Buffett disclosed the new investments Tuesday, April 11, 2023, in interviews with Nikkei and CNBC while he is visiting Tokyo this week to meet with executives at the Japanese companies.
“The problem for our board of directors is the day I’m not around and Greg’s running it, I am not giving him some envelope that tells him what to do next,” Buffett said. But Abel and Berkshire will still be ready to say within minutes whether they are interested in an acquisition and have the resources to do it.
Buffett and Abel appeared together Wednesday on CNBC from Tokyo where they went this week to check up onWednesday’s appearance is the first extended television interview Buffett has done since before the pandemic. Buffett used to regularly appear on the cable network to answer questions for three hours at a time several times a year.
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