Warren Buffett acknowledges he won't live forever, tells investors: 'Don't worry'
What should Warren Buffett do with his billions?
Huntington Private Bank CIO John Augustine discusses what Berkshire Hathaway CEO Warren Buffett should buy next.
Warren Buffett isn’t getting any younger, but the “Oracle of Omaha” doesn’t want Berkshire Hathaway investors to worry: The company will remain in good hands after his death.
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Buffett, 89, plainly addressed his eventual demise and that of 96-year-old vice chairman Charlie Munger in his annual letter to shareholders Saturday, writing that the company is “100 percent prepared for our departure.”
“Charlie and I have very pragmatic reasons for wanting to assure Berkshire’s prosperity in the years following our exit: The Mungers have Berkshire holdings that dwarf any of the family’s other investments, and I have a full 99 percent of my net worth lodged in Berkshire stock,” Buffett wrote. “I have never sold any shares and have no plans to do so.”
Charlie Munger and Warren Buffett (File photo) WHY WARREN BUFFETT LIKES ELEPHANTS AND MOATS Additionally, Buffett wrote that his will directs that his executors and trustees should not sell any Berkshire shares, and to slowly distribute his stake as non-voting shares to various foundations. “In all, I estimate that it will take 12 to 15 years for the entirety of the Berkshire shares I hold at my death to move into the market,” he wrote. CLICK HERE TO READ MORE ON FOX BUSINESS Warren Buffett at Berkshire Hathaway’s annual meeting in May 2019. (AP Photo/Nati Harnik) WARREN BUFFETT’S 5 BIGGEST STOCK HOLDINGS Buffett’s investment strategy has grown Berkshire to a nearly $560 billion valuation. His decades of leadership at the company have made him a legend among investors. But he’s confident that Berkshire will remain a good investment even after he’s gone. Here’s why: “I myself feel comfortable that Berkshire shares will provide a safe and rewarding investment,” Buffett said, even after his own death. GET FOX BUSINESS ON THE GO BY CLICKING HERE Source: Read Full Article