In a highly anticipated announcement, Warren Buffett, the 94-year-old co-founder, chairman, and CEO of Berkshire Hathaway, has named his middle child, 70-year-old Howard Graham Buffett, affectionately known as Howie, as his successor. Howie will take over as non-executive chairman of the $1 trillion conglomerate, marking a significant moment in the legacy of one of the world’s most successful investors.
A Thoughtful Transition: Why Howie Was Chosen
Warren Buffett revealed that the delay in naming his successor was due to his careful search for an individual capable of managing the vast $8.2 trillion asset group in a manner reflective of his own stewardship. “I’m very, very, very lucky in the fact that I trust all three of my children,” Buffett said, emphasizing that Howie was chosen because of their strong bond of trust and his deep understanding of the business.
Howie’s Background and Preparation for the Role
Howie Buffett’s career path has been diverse and multifaceted, preparing him for the top role. Growing up, Howie often listened to his father’s telephone conversations and sought advice on various topics. Over the years, he gained significant experience as a director on Berkshire Hathaway’s board, providing him with a front-row seat to the company’s growth and success.
In a recent interview, Howie expressed his confidence in stepping into the role, stating, “I feel I’m prepared for it because he prepared me. That’s a lot of years of influence and a lot of years of teaching.”
Howie Buffett’s Diverse Career Path
Outside of his role at Berkshire Hathaway, Howie Buffett has an extensive and varied career. He has served as a sheriff, a member of the Nebraska ethanol board, and a farmer. His corporate board experience includes significant tenures with Berkshire, Coca-Cola Enterprises, Lindsay Corporation, Sloan Implement, and ConAgra Foods. Additionally, Howie was a partner and investor at GSI Group, an agricultural equipment manufacturer.
Between 2017 and 2018, Howie served as the sheriff of Macon County, Illinois, after previously working as an auxiliary deputy.
Family Life and Personal Background
Howie, who has one son, Howard Warren Buffett, with his first wife Devon Morse, also has four stepdaughters from his marriage to Morse. His family background and diverse experiences have shaped him into a well-rounded individual capable of stepping into the leadership role at Berkshire Hathaway.
A Legacy of Trust and Preparedness
As Warren Buffett transitions out of his executive role at Berkshire Hathaway, Howie’s appointment marks a new chapter in the company’s leadership. With decades of experience and a strong sense of duty to his father’s teachings, Howie Buffett is poised to carry on the values that have made Berkshire Hathaway a global financial powerhouse.
