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. nlitened · 1789734152 · focus · HN ↗
  As I understand, the son is there not to lead the company (Greg Abel is the CEO), but to oversee their family's share in the enterprise.
  1. inopinatus · 1789750216 · focus · HN ↗
    It's more a ceremonial thing, since as the headline plainly indicates, his son, until today known only as Placeholder Buffet, has been waiting to receive a name for 71 years
    Onavo · 1789752869 · focus · HN ↗
    He didn't actually name his son Placeholder right?
    yesitcan · 1789761543 · focus · HN ↗
    Yes he did. It’s a popular Gen Z name.
    pixl97 · 1789777425 · focus · HN ↗
    Heh, when I was young some old guy told me if you lived long enough all the new names you'd see would be stupid or crazy.
    He wasn't wrong.

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