93 year old "stock god" Buffett: entering the "extra time" of life and selecting a suitable successor
jhj888jhj
发表于 2023-11-22 18:02:09
3757
0
0
On the eve of Thanksgiving, which symbolizes family reunion in the United States, 93 year old "stock god" Buffett donated nearly $870 million worth of Berkshire Hathaway stock to four family foundations.
Buffett also wrote a rare letter to Berkshire's shareholders, reiterating that he would donate over 99% of his wealth to charitable organizations and have his children serve as executors. He also stated that even without his supervision, the company would withstand the test of time and have a suitable board of directors and CEO to replace him.
Currently, Greg Abel, a 61 year old vice chairman in charge of non insurance business at Berkshire, has been appointed as Buffett's successor, taking over as CEO. And Buffett's son, Howard Buffett, will become the non-executive chairman.
In this letter, Buffett supplemented his physical condition with parentheses: "At 93 years old, I feel good, but I am also fully aware that I am playing extra time
Give investors reassurance
Buffett is the fifth richest person in the world, with a wealth of approximately $120.5 billion. In 2006, Buffett made a promise to donate most of his wealth to charity. As of the middle of this year, Buffett's total charitable donations have exceeded $50 billion.
Most of Buffett's wealth was accumulated through the Berkshire company he had been operating since 1965. At present, the company has grown into a diversified holding company. Its subsidiaries cover multiple fields such as insurance, energy, transportation, manufacturing, and retail. Some of the more famous subsidiaries include GEICO, BNSF, and Clayton Homes.
In addition, Berkshire also holds a large number of shares in other companies, such as Apple, American Express, Bank of America, Chevron, Coca Cola, HP, and Moody's. Buffett is known for value investing when choosing stocks, and he likes to look for companies that are undervalued but have long-term growth potential.
Berkshire's stock price hit a historic high in September this year and has risen nearly 17% so far this year.
In the short term, the distinctive characteristics and behavior of Berkshire are due to my significant stake in Berkshire. However, it won't be long before Berkshire gains the reputation it deserves, "Buffett said in a letter to shareholders, All types of large institutions, whether government agencies, charitable organizations, or profit seeking organizations, may experience decline. However, this is not inevitable. Berkshire's advantage is that it has been continuously developing
Donated to four family foundations
This time, Buffett stated in a regulatory document that he donated 1.5 million Berkshire B-shares to the Susan Thompson Buffett Foundation. The foundation is named after Buffett's deceased first wife and is dedicated to working in the field of reproductive health. He also donated 300000 B-shares to each of the three foundations run by his children, namely the Howard Buffett Foundation, Sherwood Foundation, and Novo Foundation.
Buffett's three children are his executors and designated trustees of a charitable trust that will receive almost all of Buffett's wealth.
Buffett said, "My children and their fathers share a common belief that although huge wealth is legal and common in many parts of the world, including the United States, it is not what we aspire to. In addition, we have many opportunities to observe that wealth does not make people wise or evil
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Stock god Buffett's latest move exposed: cashed out 6.3 billion yuan! Why does he frequently sell Bank of America?
- Buffett's deputy sells Berkshire Hathaway stocks
- What signal did Berkshire Hathaway receive from Buffett's "big disciple" unexpectedly selling?
- Buffett continues to sell! Reduce holdings by nearly $8.1 billion in 2 months
- Buffett has sold again! Accumulated reduction of nearly 9 billion US dollars since July
- Buffett has sold again! Accumulated sell-off of nearly $9 billion in Bank of America
- Stock god Buffett sells Bank of America stocks again, cashing out nearly 9 billion yuan in total
- Buffett sold stocks again to cash out nearly $230 million! Bank of America CEO praises him as a great shareholder
- Buffett's' liquidation 'of Bank of America approaching regulatory threshold: selling for three consecutive days, cashing out $460 million!
- Take action! What did Buffett smell?
-
9月が終わり、映画・テレビ業界が暗躍している。最近、愛奇芸の創始者でCEOのGONG宇氏は、映画・テレビ業界が長短の変化、AIの変化、中国映画・テレビドラマの海外進出の変化の3つの変化を経験していると発表した。 ...
- 寒郁轩良
- 前天 14:17
- 支持
- 反对
- 回复
- 收藏
-
10月1日、理想自動車が9月に納入したデータによると、9月に理想自動車が新車53709台を納入し、前年同月比48.9%増となった。 今年第3四半期、理想自動車は前年同期比45.4%増の152831台を納入した。今年9月30日現在、 ...
- 就放荡不羁就h
- 8 小时前
- 支持
- 反对
- 回复
- 收藏
-
ネットワーク状況監視サイトDownDetectorによると、オーディオストリーミングプラットフォームSpotifyは日曜日に約3時間にわたる障害を経験した後、正常に回復し、ピーク時には米国の4万人以上のユーザーに影響を与 ...
- hecgdge4
- 前天 09:33
- 支持
- 反对
- 回复
- 收藏
-
10月1日、極クリプトン自動車が発表したデータによると、今年第3四半期に新車が累計14万2900台納入され、前年同期比81%増となった。このうち、9月に新車を納入したのは2万13万人で、前年同期比77%、前月比18%増だっ ...
- 内托体头
- 昨天 16:17
- 支持
- 反对
- 回复
- 收藏