93-year-old Warren Buffett has not shown any signs of stepping down from the company’s board, according to a recent report by Reuters. Buffett, an American investor legend and chairman of the board at Berkshire Hathaway, stated at a weekend general meeting that his successors are well-equipped to lead the company when the time comes for him to step aside. He also expressed confidence in the current vice-chairmen of the board, Greg Abel and Ajit Jain.
During the meeting, Buffett praised technology company Apple, despite Berkshire Hathaway’s reduced ownership stake in the company. Despite selling off its shares in Apple, Berkshire Hathaway’s cash reserves have reached a record high, exceeding $200 billion. Buffett indicated that he is ready to invest these funds if a suitable opportunity arises but acknowledged that market conditions and geopolitical uncertainties limit their potential.
Buffett emphasized the importance of finding low-risk, high-return opportunities for investment while navigating market uncertainties. He remains committed to ensuring a smooth transition in leadership after the passing of his longtime partner and vice chairman Charlie Munger. Overall, Buffett is actively involved in Berkshire Hathaway’s operations and is confident that his successors will be able to lead the company successfully.