- Warren Buffett made several jokes about his age at his annual shareholder meeting on Saturday.
- Buffett will turn 94 this year, but he is already making plans for his successor.
- “You shouldn't sign a four-year contract,” Buffett joked, according to CNBC.
Warren Buffett is well aware that he won't be at the helm of Berkshire Hathaway forever.
Berkshire Hathaway's 93-year-old chairman took to the stage Saturday at the company's annual shareholder meeting to consider how the company should be run once he is no longer in charge.
Mr. Buffett, who took over the investment firm in 1965, has long expressed a desire to continue making decisions at Berkshire Hathaway for as long as possible, and during a meeting he said, “Anyone who wants to retire at age 65 will be disqualified as CEO.'' It will be done,” he said. Berkshire's. ”
But the billionaire occasionally humorously acknowledged that he has his limits.
Buffett has expressed his thoughts on how the company will move forward without him, but the 90-year-old said he feels “fine” at his age.
“I know a little bit about actuarial statements, so I can tell you: I shouldn't sign a four-year contract like some people in this world do,” Buffett said, according to CNBC. No,” he said.
Buffett said his hand-picked successor, former Berkshire Hathaway Energy CEO Greg Abel, will take control of investment decisions after his death.
“I'd like to leave the capital allocation to Greg. He understands the business very well,” Buffett said during a question and answer session at the conference, according to CNBC. “If you understand business, you'll understand common stocks.”
Beyond his own death, Buffett also reflected on the death of his longtime business partner and friend Charlie Munger, who passed away last November. During Saturday's presentation, the chairman accidentally referred to his new right-hand man, Abel, as Munger.
Abel took it easy, saying that being mistaken for Munger was “a great honor.”
Buffett also spoke about his decision to reduce his Apple stock, expressed concerns about AI and deepfakes, and made clear his desire to continue well into next year's shareholder meeting.
“Not only do I hope you come next year, I hope you come next year,” Buffett said in his acceptance.
A representative for Buffett did not immediately respond to a request for comment from Business Insider.
