Thread

Warren Buffett Steps Down as Berkshire Chairman, Names Son to Replace Him

323 points · 221 comments · saimiam

dugmartin · 1789732295 · focus · HN ↗
I guess Warren’s quote only applies to other people, not him. "It’s like choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics." (<a href="https://www.nytimes.com/2001/02/14/us/dozens-of-rich-americans-join-in-fight-to-retain-the-estate-tax.html" rel="nofollow">https://www.nytimes.com/2001/02/14/us/dozens-of-rich-america...)
1. runjake · 1789743880 · focus · HN ↗
  Warren's son has been a leader at Berkshire for a very long time. He was voted in by the board, not Warren.
  Here's his Wikipedia page: <a href="https://en.wikipedia.org/wiki/Howard_Graham_Buffett" rel="nofollow">https://en.wikipedia.org/wiki/Howard_Graham_Buffett
  1. NegativeLatency · 1789744238 · focus · HN ↗
    I’m sure his dad had nothing to do with it and it’s just a coincidence.
    lesuorac · 1789745366 · focus · HN ↗
    His dad probably has a lot to do with it.
    You think he didn't teach his children anything about finance?
    avdwrks · 1789746508 · focus · HN ↗
    The guy is 71 years old and has built a life long career of his own, people are acting like he just elected a 21 year old nepo baby to run the company.
    moate · 1789749535 · focus · HN ↗
    Exactly! They elected a 71 year old nepo baby to run the company. Vastly different.
    jpk2f2 · 1789753286 · focus · HN ↗
    His son isn't running the company. The company has a CEO, who isn't a member of the Buffet family.
    moate · 1789754807 · focus · HN ↗
    If you want to split hairs as to what the responsibility of the Chairman of the Board of Directors does, you win.
    IDK, maybe I'm a mushbrain but it seems like if someone said they're the chairman of the board, and you told them to their face "well it's not like you run the company..." they'd finish their drink and go talk to someone else for the rest of the night.

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