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. yuuu · 1789734967 · focus · HN ↗
    I thought he was giving away 99% of his wealth?
    mrlonglong · 1789735636 · focus · HN ↗
    Can he give me a few million then?
    ozim · 1789739614 · focus · HN ↗
    Few million?
    I would be set for the rest of my life if I got half a mill falling from sky today, I guess I could even make it work with 250k.
    Currently I am pondering how absurd amount of money a billion of dollars is. When loads of people can only -earn and eat through/spend not save- $1 million; working their asses off for something like 20 years.
    stockresearcher · 1789831817 · focus · HN ↗
    > pondering how absurd amount of money…
    You may enjoy reading Brewster’s Millions, or watching one of the many movie adaptations made over the years.
    <a href="https://en.wikipedia.org/wiki/Brewster's_Millions" rel="nofollow">https://en.wikipedia.org/wiki/Brewster's_Millions

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