巴菲特卸任伯克希尔董事长，格雷格·阿贝尔接棒

Warren Buffett announcing he is stepping down as chairman of Berkshire Hathaway. He becomes chairman Emeritus effective immediately. We're being on the company's board of directors. His eldest son, Howard Buffett, taking over as chairman for Bloomberg US insurance for Alex. Rajmandari joins us now here on set, in New York. Bit of a surprise announced in classic Berkshire fashion. We get the release and then a, note from the the man himself.

Right. It's a bit of a surprise, but at the same time, it's kind of been telegraphed a little. You know, he stepped down as CEO a year ago. He was chairman. He was involved in the day to day business with Greg Abel, but eventually, it didn't appear at the annual meeting in May. Greg Abel was actually the one handling the reins of, you know, the company. So, it's been long in the making. It's still a surprise, but this is not something that investors do nothing about.

We look at this as a process, this leadership transition. I I look at the note that Warren Buffett had this morning. He's 96 years old. So, again, to the point of surprise, he's a nonagenarian. Perhaps not a surprise in that way, but he says, my expectations for Greg Abel were sky high from the start, and he has exceeded them. Just give us the broader context here about how this transition has been going. As you Warren Buffett not at that annual meeting.

Greg Abel was there. The reviews are in. How was it? Investors were really convinced by Greg Abel. He I mean, it was a very exhaustive business review of O'Brien. They got a lot of details that were not shared with investors before. It still is a change in or because the presence of Warren Buffett on stage was, you know, unparalleled, and this is something that will not exist for Russia Hathaway anymore. But, you know, Greg Gable has been making some changes.

He resumed some buybacks, which is good news for investors. He did do some multibillion deals, back to back deals over the first part of the year, which is something that had not happened over the past years under Buffett. He kinda shied away from market valuation that he seemed to be deemed too high. So there are a few changes, but, again, it's more of the same, and I that's the whole point of that very smooth transition is to ensure continuity.

Very quickly here, Alex, introduce us to Howard, his son. As Warren points out, he's, had a lot of on the job training. He's been on the board for for while. He's been on the board since 1993. He's been on boards of several other companies. He does run his own charity, one of the, you know, Buffett kids charity that have to deploy the 140,000,000,000, dollars of net worth that he has now. So this is gonna be, you know, his main job now.

He will be in tandem with Greg Gable. He will be the guardian of the values of the company, which, Warren Buffett said this morning in his letter that we're more than anything more more than anything on his balance sheet. So, we'll see how it displays out.