Who is Howie Buffett? All about Warren's successor as Berkshire Hathaway non-executive chairman
Warren Buffett has chosen his middle child, Howard “Howie” Buffett, to take over as Berkshire Hathaway’s non-executive chairman after his passing.
Warren Buffett, 94, turned Berkshire Hathaway from a struggling textile company into a global powerhouse worth nearly $1 trillion. As the legendary investor nears the end of his career, all eyes are on succession. One of the most important jobs, non-executive chairman, will go to his son, Howard “Howie” Buffett.
The move is part of Warren’s long-term plan to protect Berkshire’s culture and ensure shareholder interests remain at the center of its operations.
Who is Howie Buffett?
As per Investopedia, born in December 1954, Howie is Warren Buffett’s middle child. Unlike his famous father, Howie did not complete college, but he built an unusual and wide-ranging career.
He has been a farmer, sheriff, philanthropist, author, and board member of several big companies. His corporate resume includes being on the boards of Coca-Cola, ConAgra, Archer-Daniels-Midland (ADM), Coca-Cola Enterprises, Lindsay Corporation, Sloan Implement, and Berkshire Hathaway itself.
In addition, Howie manages farms and runs the Howard G. Buffett Foundation, which supports humanitarian projects worldwide.
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Warren Buffett reveals why he chose his eldest son
Warren Buffett has often said that his biggest concern after his time is Berkshire falling into the wrong hands. He fears that short-term investors might break up the company and strip away its culture.
{{/usCountry}}Warren Buffett has often said that his biggest concern after his time is Berkshire falling into the wrong hands. He fears that short-term investors might break up the company and strip away its culture.
{{/usCountry}}That is why he wanted someone he deeply trusts in the chairman’s seat. Howie, who has sat on Berkshire’s board for over 30 years and grew up listening to his father’s business calls, was the natural choice.
{{/usCountry}}That is why he wanted someone he deeply trusts in the chairman’s seat. Howie, who has sat on Berkshire’s board for over 30 years and grew up listening to his father’s business calls, was the natural choice.
{{/usCountry}}Also read: Warren Buffett to donate Berkshire Hathaway stocks worth $6 million to these 5 foundations
{{/usCountry}}Also read: Warren Buffett to donate Berkshire Hathaway stocks worth $6 million to these 5 foundations
{{/usCountry}}In an interview with the Wall Street Journal, Buffett opened up about Howie taking over the company and said, “He is getting it because he's my son. I'm very, very, very lucky in the fact that I trust all three of my children.”
{{/usCountry}}In an interview with the Wall Street Journal, Buffett opened up about Howie taking over the company and said, “He is getting it because he's my son. I'm very, very, very lucky in the fact that I trust all three of my children.”
{{/usCountry}}Warren has explained that the chairman's role is not about running the day-to-day business, but about ensuring that the CEO and leadership act in Berkshire’s long-term interests.
Greg Abel named as CEO
In a surprise statement at Berkshire’s annual shareholder meeting on May 3, Warren Buffett said: “I think the time has arrived where Greg should become the Chief Executive Officer of the company at year end.”
This ended years of speculation over who would succeed him. Despite being seen as Warren’s heir apparent, Greg Abel himself was not told in advance, as per Business Insider.
Why not Howard as CEO?
While Howard Buffett will step in as non-executive chairman, Warren explained that the CEO’s role requires deep investment expertise, something Abel, who currently manages Berkshire’s non-insurance businesses, is well-suited for.
Howard’s role is instead about protecting Berkshire’s culture, ensuring no outsider strips the company apart. He will act as a guardian of values rather than a chief decision-maker.
The Buffett children’s inheritance
One of the largest wealth transfers in modern history took place as Warren’s three children inherited $140 billion in Berkshire stock. But this inheritance comes with a twist: the shares are pledged to philanthropic causes, meaning they will not personally keep most of the wealth.
FAQs
1. Who is Howie Buffett?
Howie Buffett, born in 1954, is Warren Buffett’s middle child. He is a philanthropist, farmer, author, and long-time board member of Berkshire Hathaway.
2. Will Howie Buffett become CEO of Berkshire Hathaway?
No. Howie will not be CEO. Instead, Greg Abel has been chosen as CEO, while Howie will take over as non-executive chairman to preserve Berkshire’s culture.
3. What is Howie Buffett’s role at Berkshire Hathaway?
As non-executive chairman, Howie’s role will be to protect Berkshire’s values, ensure shareholder trust, and maintain the company’s culture, not run the day-to-day operations.
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