Buffett surprised shareholders, announced retirement
Greg Abel recommends for the successor.
Omaha. The investor and philanthropist Warren Buffett unexpectedly announced on Saturday at a meeting with his company Berkshire Hathaway that he would retire at the end of the year.
The 94-year-old billionaire will recommend the company to be replaced by Greg Abel, who had previously chosen as his successor.
Informed AP.
Already in February of this year, the legendary investor announced that this May meeting of shareholders, which usually meet tens of thousands of people, will be shorter. According to AP, it could have been due to his age. A man who has been headed by the company for 60 years has recently used a stick to walk.
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Buffett also told shareholders that business policy US President Donald Trump It increased the risk of global instability by angry with the rest of the world.
« We should try to trade the rest of the world. We should do what we know best, and they should do what they know best, » he said.
Buffett is sometimes nicknamed « Omaha Fortunately », as it can well evaluate the available information and signs of the future performance of companies and the economy.
Last summer, Berkshire Hathaway reduced the share in Apple in half. Reuters interpreted it so that Buffett could worry about the development of the US economy or the too high award award.
Apple’s shares then began to decline sharply this April after the announcement of extensive tariffs by Trump’s administration.
Last year, Buffett’s company increased the operating profit by 27 percent to $ 47.44 billion. The profit was record -breaking for the third consecutive year.
Berkshire Hathaway, originally textile in Nebraska, Buffett dominated in 1965. Gradually it extended its activities to other segments. Today, the investment conglomerate has shares in approximately 90 companies of various fields.
It owns significant shares in a number of well -known companies, for example in the world’s largest soft drink manufacturer Coca-Colathat Buffett loves.
