Warren Buffett will say goodbye to Berkshire
New Delhi: World-renowned successful investor Warren Buffett on Saturday said his farewell to Berkshire Hathaway. He issued his annual letter to shareholders, which stated – Berkshire Hathaway is 100 percent ready to bid farewell to him and Charlie Munger. There is a possibility that India-born Ajit Jain will take over the reins of the company.
Omaha veteran investor Buffett issues letters every year. Let me tell you that Warren Buffett has been writing an annual letter to his investors for the last 40 years. Investors from all over the world are waiting for this letter because the thinking of Buffett and his team is expressed. They also tell many things about their strategy for investment. Berkshire Hathaway’s annual general meeting is scheduled to take place on 2 May 2020, in which their successors will be announced.
In his annual letter, 89-year-old Warren Buffett said, he and Charlie joined Berkshire a long time ago and their departure may not be good news for shareholders. However, they need not panic. The company is all set for his departure.
In 2018, Ajit Jain and Greg Abell were inducted on the board in Berkshire. On both of these appointments, Buffett said that these were steps towards new leadership. In the annual meeting held in May last year, there were indications that both of them could be handed over the reins of the company. According to Bloomberg, many investors are focused on Abel, who takes decisions related to all non-insurance businesses in Berkshire.
Ajit has been associated with Berkshire Hathaway’s insurance business since 186. He was born in Odisha and studied B.Tech from IIT Kharagpur, has worked in IBM and MBA from USA. He soon learned and mastered the business of insurance.