Billionaire investor Warren Buffett announced Saturday that a successor has been chosen to lead his Berkshire Hathaway holding company, although he did not identify the person. Buffett, 81, wrote in a letter to investors that Berkshire Hathaway’s board of directors chose his successor and two back-up candidates.
Your Board is equally enthusiastic about my successor as CEO, an individual to whom they have had a great deal of exposure and whose managerial and human qualities they admire. (We have two superb back-up candidates as well.) When a transfer of responsibility is required, it will be seamless, and Berkshire’s prospects will remain bright. More than 98% of my net worth is in Berkshire stock, all of which will go to various philanthropies. Being so heavily concentrated in one stock defies conventional wisdom. But I’m fine with this arrangement, knowing both the quality and diversity of the businesses we own and the caliber of the people who manage them. With these assets, my successor will enjoy a running start. Do not, however, infer from this discussion that Charlie and I are going anywhere; we continue to be in excellent health, and we love what we do. – Warren Buffet
Billionaire Warren Buffett, widely considered the smartest investor on the planet and known for his modest lifestyle despite astronomical wealth, was recently asked the best advice he ever received. Surprisingly, it wasn’t about money, finances or wealth creation. It was about parenting. Here’s what Buffett said about the best advice he’s ever received:
The power of unconditional love. I mean, there is no power on earth like unconditional love. And I think that if you offered that to your child, I mean you’re 90 percent of the way home. There may be days when you don’t feel like it, it’s not uncritical love, that’s a different animal, but to know you can always come back, that is huge in life. That takes you a long, long way. And I would say that every parent out there that can extend that to their child at an early age, it’s going to make for a better human being. – Warren Buffett
Investor Warren Buffett has donated another $1.5 billion to the Bill & Melinda Gates Foundation, part of his plan that began in 2006 to donate 99 percent of his wealth. According to a filing with the Securities and Exchange Commission, Buffett donated on Thursday 19.34 million Class B shares of his insurance and investment company [...]
The annual charity auction for lunch with legendary 80-year-old investor Warren Buffett began on Sunday night, and by midday on Monday, bids already topped $2 million. The six bids placed thus far have come from two anonymous bidders. Last year’s winner paid $2.63 million for the right to dine with Buffett at the Manhattan steakhouse [...]
“Even though Apple may have the most wonderful future in the world, I’m not capable of bringing any drink to that particular party and evaluating that future,” Warren Buffett said. “I simply look at businesses where I think I have some understanding of what they might look like in five or 10 years.” – from [...]
Who doesn’t want to be a billionaire? Well, you can live like Warren Buffett and Jim Walton if you take their spending tips: 1. Keep Your Home Simple Billionaires can afford to live in the most exclusive mansions imaginable — and many do, including Bill Gates’ sprawling 66,000 square foot, $147.5 million dollar mansion in [...]
Billionaire Warren Buffett has donated $1.93 billion to five charitable foundations, including $1.6 billion to the Bill & Melinda Gates Foundation, which combats global hunger and funds U.S. education initiatives. Buffett, 79, is giving away a personal fortune – estimated at $47 billion by Forbes magazine. Buffett gave another $330 million to four other charities. [...]
Bill Gates, Melinda Gates, and Warren Buffett are asking the nation’s billionaires to pledge to give at least half their net worth to charity, in their lifetimes or at death. If their campaign succeeds, it could change the face of philanthropy. Here’s Fortune with the report: Gates and Buffett started what can be called the [...]
A bidder has agreed to pay $2.63 million for a steak lunch with the billionaire investor Warren Buffett in a charity auction held on eBay Inc’s website. The highest bid in the 11th annual auction topped the previous record $2.11 million paid in 2008 by Zhao Danyang, a Hong Kong investor. Wealth manager Salida [...]
