The Sage of Omaha Finally Clocked Out for Good
After six decades of running the show at Berkshire Hathaway, Warren Buffett has officially stepped down as chairman.
At 96, Warren Buffett has finally decided he might be done with the daily grind. The man who basically turned value investing into a competitive sport is handing the keys to the kingdom over to his son, Howard Buffett.
Greg Abel is already running the actual business, but Howard is stepping in as the official guardian of the company's culture. Essentially, the world's most famous investor is turning his massive financial empire into a family legacy project.
It’s wild to think that a guy who started in 1965 is just now finding a reason to call it a day, but at least he’s finally taking his own advice on long-term holding. He isn’t leaving the building entirely, though—he's sticking around the board as a director, because old habits die hard.
One does not simply quit when there are still dividends to be collected until the very end.
Source: CNBC
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