Warren Buffett says his successor will still be able to make most deals for Berkshire
Posted May 5, 2012 11:17:00 AM.
This article is more than 5 years old.
OMAHA, Neb. – Billionaire Warren Buffett says some of the deals he’s made for Berkshire Hathaway might not be available to his successor one day, but that person will still make deals.
Buffett said some of the deals he made during the financial crisis of 2008 might not be deals his successor could make because Goldman Sachs and General Electric both wanted his endorsement along with Berkshire’s money.
But Buffett says his successor will still be able to make big deals because Berkshire has nearly $40 billion cash on hand and is willing to invest large amounts quickly.
Buffett says deals like the Goldman and GE ones haven’t been as important to Berkshire as investing in Coca-Cola stock or buying entire businesses such as Iscar metalworking and the Burlington Northern Santa Fe railroad.
