Warren Buffett said Greg Abel, Berkshire Hathaway Inc.’s vice chairman of non-insurance businesses, would be his likely successor if the billionaire were to step down. Buffett told CNBC that the board agrees Abel, 58, would take over if anything were to happen to the 90-year-old chief executive officer of Berkshire, and that age was a determining factor in the selection. Abel had been seen as the most likely candidate.
NEW YORK (AP) — A rough day on Wall Street for Warren Buffett means Amazon’s Jeff Bezos is now the third richest person in the world. Bloomberg’s billionaire index shows Buffett lost more than $754 million Thursday, thanks to a slide in shares of his company, Berkshire Hathaway. Bezos lost $136 million, but at the […]
Speculation has been mounting among Berkshire investors as to who will succeed the 84-year-old Buffett. It seems Ajit Jain and and Greg Abel are the front-runners.
Warren Buffett is in talks to exit his $1.1 billion investment in Graham Holdings Co., the owner of Post-Newsweek Stations and former publisher of The Washington Post, after owning the stock for more than four decades. Graham may swap assets including a business, and possibly shares it holds in Buffett’s Berkshire Hathaway Inc., according to a regulatory filing Wednesday.
Warren Buffett’s Berkshire Hathaway has sold off its $38 million stake in newspaper publisher Gannett Company and purchased $23 million worth of shares in the Dish Network, according to SEC filings.
The Berkshire Hathaway annual meeting began humbly in 1982 with a crowd of 15 in an insurance company cafeteria. It has been growing steadily just as the company’s stock price rose to become the most-expensive in the U.S., reaching $162,904 for a Class A share on Friday. Now the meeting regularly fills Omaha’s 18,300-seat arena and every nearby overflow room. Buffett likes to call it “Woodstock for Capitalists.”
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Tuesday, Warren Buffett’s Berkshire Hathaway disclosed that it has begun buying stock in Viacom Inc., controlled by billionaire Sumner Redstone. Omaha-based Berkshire Hathaway, in a filing with the SEC, said that during the first three months of the year it had acquired nearly 1.6 million shares in Viacom — a stake worth $75.5 million.
Warren Buffet’s Berkshire Hathaway increased its exposure to media companies significantly in the fourth quarter, adding a new position in Liberty Media and substantially raising its stake in DirecTV, according to a regulatory filing on Tuesday.