Warren Buffett prepares his middle child for the job of a lifetime
Live MintWhen Howie Buffett first bought a front-end loader, he didn’t know how to start it. And as a director on Berkshire’s board for more than 30 years, he’s had a front-row seat as his father built Berkshire into one of the largest companies in the U.S. “I feel I’m prepared for it because he prepared me," Howie Buffett said. At Berkshire, Buffett has long said he wants his middle child, 70-year-old Howie, to succeed him as nonexecutive chairman to help preserve the company’s culture. Ahead of Berkshire’s 2013 annual meeting, Warren Buffett invited Doug Kass, a hedge-fund manager who was short Berkshire stock, to ask questions. Howie Buffett’s efforts to preserve Berkshire’s culture will intersect with the siblings’ task of giving away their father’s Berkshire holdings: The stake, mostly supervoting Class A shares, carries about 30% of the company’s voting rights.
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