(Image Source: Dealbreaker)
BY JUSTIN PROCHASKA
ANCHOR LAUREN ZIMA
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The “Oracle of Omaha” has run Berkshire Hathaway for almost 50 years. Warren Buffett says when the day does come for him to step down, he has a successor in mind. He announced it to shareholders in his annual letter Saturday — sort of.
“The billionaire says his company, Berkshire Hathaway, has identified his successor. He offered these details today in his annual letter to the Berkshire shareholders.”
(AOC)
Buffett is staying tight-lipped about who the mystery man or woman is. But the Telegraph breaks down who it thinks the successor might be -- looking at likely candidates.
“Matthew Rose...the 52-year-old head of Burlington Northern Santa Fe Railroad.”
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“Ajit Jain...Indian-born, the 60-year-old [who] runs Berkshire's reinsurance operations”
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“Tony Nicely...built Berkshire's Geico property-insurance unit into one of the nation's largest car insurers in his 18 years at the helm...
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“and James Hambrick...who was singled out on the first page of the letter to shareholders saying: "James is a disciplined buyer and a superb operator.”
But 81-year-old Buffett has no plans to jump off-board his billion-dollar train anytime soon. In a report from CNBC, the investor said even though he’s thinking of a successor, it by no means means he is planning on stepping down.
"Do not, however, infer from this discussion that Charlie and I are going anywhere; we continue to be in excellent health, and we love what we do."
Also of note from Saturday’s letter, Buffett admitted he was, quote, “dead wrong” about the extent of the housing market. He previously said it would begin recovery by late 2011 or early 2012.
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