the oracle of omaha

Warren Buffett Still Isn’t Ready to Name His Successor

Photo: NICHOLAS KAMM/AFP/GettyImages

On Saturday, around 35,000 people made their way to Omaha, Nebraska to soak up the wisdom of folksy billionaire Warren Buffet at Berkshire Hathaway’s annual shareholders meeting. This year’s get-together did not produce any big news, though guests were treated to a skit featuring Buffett and partner Charlie Munger as peanut brittle dealers in a turf war against Breaking Bad’s Roger White (Bryan Cranston) and Jesse Pinkman (Aaron Paul).

As he has in the past, Buffett said that the Berkshire board is “solidly in agreement” on who will eventually take over for him as CEO of the company, though he declined to name the successor. However, he was more open when it came to his feelings on social media. Though he gamely joined Twitter last week, Buffett said that he disagreed with a recent SEC announcement that allows businesses to release company information on social networks. “I do not want it, if I am buying Wells Fargo, to keep hitting up their web page and hoping I’m not 10 seconds behind someone else for some important announcement,” said Buffett, whose many holdings include Business Wire, a press release service. “The key to disclosure is accuracy and simultaneity.” To be fair, Twitter users are close to achieving the latter, though the former will definitely take some time.

Buffett Still Isn’t Ready to Name His Successor