Updated
Updated · Barron's · May 2Warren Buffett explains Greg Abel succession choice and citizenship plans
11 articles · Updated · Barron's · May 2
- At Berkshire Hathaway's shareholder meeting, Buffett said Abel, born in Canada, is well on his way to becoming a US citizen.
- Buffett said he chose Abel as his successor because he is "very, very, very smart about businesses" and strongly wants American citizenship.
- Earlier, Buffett said Abel does everything he did "better in all cases", reinforcing the handover as the 95-year-old stepped back from centre stage.
Can Berkshire's new CEO deploy a record $397B cash pile to reverse falling earnings and escape Buffett's long shadow? With Berkshire's stock lagging, will new tech investments finally outperform the market where old methods have struggled?