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Why Warren Buffett didnot choose his kids as successors

IndiaTimes Monday, 5 May 2025 ()
Warren Buffett, at 94, has announced Greg Abel as his successor as CEO of Berkshire Hathaway, surprising many by choosing an outsider over his children. Buffett's children, Howard, Peter, and the late Susan, received substantial financial support but were not considered for leadership roles. Buffett emphasized merit over nepotism, believing large inheritances can hinder ambition.
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News video: Buffett Steps Down: What Happens to Berkshire’s $348 Billion Empire Now? | | Who’s the New CEO?

Buffett Steps Down: What Happens to Berkshire’s $348 Billion Empire Now? | | Who’s the New CEO? 03:08

 Warren Buffett has announced he’ll step down as CEO of Berkshire Hathaway by the end of 2025, naming Greg Abel as his successor. Abel, a 30-year veteran of the firm, will inherit control of Berkshire’s $348 billion cash reserves and $1.16 trillion empire. The news broke during the annual...

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