Warren Buffett seems to have chosen his successor

August 16th, 2011 - 10:43 pm ICT by Aishwarya Bhatt  

New York, Aug 16 (THAINDIAN NEWS) Multi billionaire and investment mogul Warren Buffet has revealed that his successor has been chosen. The man regarded as having the magic wand for the stock market is confident that his successor is the right person to take over from him. The 80-year-old is the head and the founder of Berkshire Hathaway.

During an interview on Monday, Buffet failed to identify his successor by name but he hinted that the board of Hathaway has already “agreed” on a successor. He said the board would name his successor as soon as he steps down or die.

Buffet revealed that, “if I die tonight, tomorrow morning it won’t take the board an hour to have announced my successor.”

Todd Combs was last year named as the new investment manager of the $372 billion investment company. Buffet hinted at that time that he could end up as his successor.

Buffet has been at the forefront in suggesting ways that the US economy could be brought back on track. He recently disagreed with S&P for downgrading the credit rating of the United States. The action caused the US and the world stock market to plummet.

Buffet has often argued that the rich in the United States should be made to pay more in taxes.

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