Howard Buffett is the right kind of nepo baby
The new structure at Berkshire Hathaway is designed to separate some of the benefits of a family business from the downsides of installing a scion as CEO.
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Howard Buffett is inheriting the duty of guarding his father’s legacy at Berkshire Hathaway.
PHOTO : REUTERS
Beth Kowitt
Facts are facts, so let’s just state it plainly: Howard Buffett is a nepo baby. And this is one of the rare cases where I think we should be OK with it.
Howard, 71, wouldn’t have been tapped as chairman of Berkshire Hathaway if it weren’t for his dad – the 96-year-old Warren Buffett, who on Sept 18 became chairman emeritus. “He is getting it because he’s my son,” he bluntly told the Wall Street Journal last year. The same was true when Howard was named to the board 33 years ago.