In a 45-minute video that Warren Buffett showed thousands of Berkshire Hathaway shareholders this weekend, one investor recounted his worst nightmare: a headline reading “Buffett Kicks Bucket”.
Concern over how long the 92-year-old will be at Berkshire’s helm have stalked its investors for years. But at this year’s annual meeting in Omaha, they got their best view yet of the man whom Buffett regards as the answer to the succession question: Greg Abel, the 60-year-old vice-chair of the company’s businesses outside insurance.
At the same event in 2022, the media-shy Abel was able to walk around the convention floor largely unnoticed. But this year Abel — heir apparent to lead the $710bn conglomerate that includes the BNSF railroad, private jet operator NetJets and insurer Geico, as well as the other public and private groups Berkshire has invested in over the years — was surrounded by dozens of people hoping for a picture together. He took a moment with each, thanking them for attending.