The news of Mr. Warren Buffett’s suffering from prostate cancer has troubled many in the region. Moreover, people have also started worrying who will become Buffett’s successor.
Yes, the Chairman and the Chief Executive of Berkshire Hathaway, is suffering from prostate cancer. The news has been confirmed by the chairman himself this week.
Last year, it was a high profile event when David L. Sokol had attended the annual meeting at Berkshire.
People had been lining up near him for autographs, because they were sure he was going to be the next successor of Warren E. Buffett. There are now speculations being drawn as Mr. Sokol shall not be present at this year’s annual meeting of Berkshire.
In an unexpected move, David Sokol who is the heir-apparent to Warren Buffett has resigned from his position.
He was given the responsibilities of a very important role in billionaire investor's Berkshire Hathaway firm and it was not long time back when he had bought shares in a firm before convincing his boss to buy it out.
In the last letter to the company, before he actually take a final call on the terms of service with the company, Berkshire Hathaway Inc, has actually mentioned that there are lots features to be addressed in order to make sure that people have to be aware of all the necessary advantages of the company and there are also many features which have to be understood in the process.
Warren Buffett’s Berkshire Hathaway is faring the bad weather where the company’s second-quarter profit has declined 40 percent. This has largely been because of the derivative bets on equity indexes. The net income of the company fell down to $1.97 billion; or $1,195 a share, from $3.3 billion, or $2,123, in the same period as compared to last year.
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