At the end of the year, the legendary American investor Warren Buffett wants to hand over the management of his Holding Berkshire Hathaway. The billionaire is known to have a particularly good nose for market developments. Before his departure he missed US President Donald Trump a memo.
He would propose to the Board of Directors to lift his designated successor Greg Abel at the top post at the end of the year, said the 94-year-old during the shareholders’ meeting of Berkshire. He then wanted to help as a consultant, but the decisions will make Abel, the multimilliarist emphasized.
“Trade should not be a weapon,” said the 94-year-old Buffett during the shareholders’ meeting of his holding company Berkshire Hathaway and criticized Trump’s anti-trade strategy without calling him.
Buffett warned the United States against raising the rest of the world. According to him, it would be “a big mistake” if 7.5 billion people did not like one and 300 million how good they are. “I don’t think that’s right – and I don’t think that’s the way,” Buffett emphasized.
Legendary Shortangng
Berkshire was originally a small textile company. Buffett bought it in the sixties and transformed it into an extremely successful investment company. His sense of good things ensured that Berkshires investments in various companies have developed considerably better over the years than the stock market on average.
Berkshire Hathaway includes the Geico insurer, the BNSF Railway Company, the Fast Food Chain Dairy Queen and the battery manufacturer Duracell. Moreover, the Holding has investments in many other companies, for example Apple and Coca-Cola.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
