"In the letter, the legendary investor mused on his 64-year friendship with Charlie Munger and the extensive connections that emerged from his humble hometown in Nebraska. He outlined the acceleration of his giving plan to wind down his vast fortune through charitable organizations led by his children. He said Monday that he converted 1,800 Class A shares into 2.7 million Class B shares to fund the effort. Those shares are worth about $1.35 billion. He also offered life advice for leaders and workers alike facing tough decisions, and echoed his long-standing view of always betting on America."
"To My Fellow Shareholders:I will no longer be writing Berkshire's annual report or talking endlessly at the annual meeting. As the British would say, I'm "going quiet."Sort of.Greg Abel will become the boss at yearend. He is a great manager, a tireless worker and an honest communicator. Wish him an extended tenure.I will continue talking to you and my children about Berkshire via my annual Thanksgiving message. Berkshire's individual shareholders are a very special group who are unusually generous in sharing their gains with others less fortunate. I enjoy the chance to keep in touch with you."
Warren Buffett issued his third annual Thanksgiving letter as he prepares to step down as CEO at yearend. He reflected on a 64-year friendship with Charlie Munger and the deep ties to his Omaha roots. He accelerated his giving plan, converting 1,800 Class A shares into 2.7 million Class B shares to fund charities led by his children, a stake worth about $1.35 billion. He named Greg Abel as his successor, praising Abel's management and communication skills. He offered concise life advice about continual improvement and reiterated confidence in America while promising to continue annual Thanksgiving messages.
Read at Business Insider
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