Investment mogul and Berkshire Hathaway co-founder Warren Buffett has finally named his successor. The 94-year-old billionaire's middle child, Howard "Howie" Buffett, 70, will take over as non-executive chairman of his $1 trillion company, according to the Wall Street Journal.
The report mentioned that the investment guru was “upfront” about naming his heir.
“He is getting it because he's my son. I'm very, very, very lucky in the fact that I trust all three of my children,” Warren Buffett was quoted as saying by WSJ.
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Howie has served as director of Berkshire's board for more than three decades.
On his upcoming takeover, Howie told the newspaper that he feels “prepared” because his father had “prepared” him.
“That's a lot of years of influence and a lot of years of teaching,” he said.
All About Howie Buffett
Born in 1954, Howie Buffett is the middle child of Warren Buffett. He grew up with his two siblings — older sister Susan and younger brother Peter — in Nebraska.
Howie has worked as a farmer, county commissioner, corporate board member, philanthropist, and even a sheriff.
The heir to Berkshire Hathaway struggled with college and moved to Los Angeles on his father's advice. There, he began working at See's Candies, a company owned by Berkshire Hathaway.
Later, Howie began farming on land bought by his father, where he used to pay market-appropriate rent. In 1989, he took over the county board of commissioners office and later also served as the chairman of the state ethanol board.
Since 1993, Howie has been a director on several corporate boards, including those of Berkshire, Coca-Cola Enterprises, Lindsay Corporation, Sloan Implement and packaged food company, ConAgra Foods.
In 2017, Howie Buffett was sworn in as Sheriff of Macon County, Illinois.
Howie Buffett has been married to Marcia Sue Duncan since 1977 and has a son named Howard Warren Buffett.
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