Potential Buffett heir reveals what may be just the start of his Berkshire stake
Bloomberg|
Updated: Jan 20, 2018, 11.34 AM IST
By Noah Buhayar
Greg Abel is seen by many analysts and investors as the likeliest candidate to one day lead Berkshire Hathaway Inc. The latest disclosure on his stock holdings offers just a glimpse of his potential stake in Warren Buffett's sprawling company.
A regulatory filing on Friday shows Abel indirectly holds about $2.1 million of stock in the Omaha, Nebraska-based company. But a separate disclosure last year noted an agreement that could catapult his holdings higher. That filing showed he could convert a stake in Berkshire's energy business into more than $400 million of stock in the conglomerate.
The new filing was triggered by his promotion last week to vice chairman for non-insurance operations at Berkshire, a position that will put him in charge of businesses ranging from BNSF Railway to Dairy Queen. Abel previously ran Berkshire's energy unit. Buffett elevated another executive, Ajit Jain, to be vice chairman of the insurance businesses. Both executives joined the board, and Buffett said the promotions were part of a "movement toward succession."
A filing on Thursday showed that Jain held more than $100 million in Berkshire stock.
Greg Abel is seen by many analysts and investors as the likeliest candidate to one day lead Berkshire Hathaway Inc. The latest disclosure on his stock holdings offers just a glimpse of his potential stake in Warren Buffett's sprawling company.
A regulatory filing on Friday shows Abel indirectly holds about $2.1 million of stock in the Omaha, Nebraska-based company. But a separate disclosure last year noted an agreement that could catapult his holdings higher. That filing showed he could convert a stake in Berkshire's energy business into more than $400 million of stock in the conglomerate.
The new filing was triggered by his promotion last week to vice chairman for non-insurance operations at Berkshire, a position that will put him in charge of businesses ranging from BNSF Railway to Dairy Queen. Abel previously ran Berkshire's energy unit. Buffett elevated another executive, Ajit Jain, to be vice chairman of the insurance businesses. Both executives joined the board, and Buffett said the promotions were part of a "movement toward succession."
A filing on Thursday showed that Jain held more than $100 million in Berkshire stock.
