Getting to Know Howard Buffett: The Middle Child and Heir of Warren Buffett

Wealthy investor and Berkshire Hathaway co-creator Warren Buffett has designated his second child, Howard “Howie” Buffett, as his successor. The 70-year-old will assume the role of the non-executive chairman of the $1 trillion (approximately Rs 86.55 lakh crore) business empire.

The 94-year-old billionaire, in an interview with The Wall Street Journal, disclosed that almost all of his remaining wealth will be directed to a new charitable trust. Mr. Buffett, who has been “planning for decades” for the change, has guaranteed that his three children – Susie, Howard, and Peter – will not inherit the majority of his fortune but will instead oversee the new trust. The trio will manage $140 billion worth of Berkshire stocks dedicated to charitable efforts.

In selecting Howie as his successor, Mr. Buffet stated, “He is receiving it because he’s my son. I’m incredibly fortunate in the fact that I trust all three of my children.”

Howie, who has been a board member at Berkshire for more than 30 years, expressed his readiness to take on the position. “I believe I am prepared for it because he has trained me. That’s many years of influence and many years of instruction,” he shared with the WSJ.

Who is Howie Buffet?

• Howie Buffett faced challenges during his university years but eventually found his path with guidance from his father, according to a WSJ report. Following Warren Buffett’s advice, Howie relocated to Los Angeles to work at See’s Candies, a firm owned by Berkshire Hathaway, to gain practical business experience. He subsequently established his own excavating business before transitioning to agriculture.
• Warren Buffett acquired a farm for Howie, who paid his father market-rate rent to manage it, as per WSJ. Over time, Howie became a strong proponent of no-till farming, emphasizing soil conservation and sustainable agricultural methods.
• In 1989, Howie Buffet joined the county board of commissioners and later served as a member, eventually becoming the chairperson of the Nebraska ethanol board. From 2017 to 2018, he held the position of sheriff of Macon County, Illinois, following his previous role as an auxiliary deputy.
• Since 1993, Howie Buffet has been a board member of various prominent companies, including Berkshire Hathaway, Coca-Cola Enterprises, Lindsay Corporation, Sloan Implement, ConAgra Foods, and agricultural equipment manufacturer GSI Group.
• Howie Buffet founded a charitable foundation focused on conservation and other philanthropic initiatives. He has also written eight books on conservation, wildlife, and related subjects. Howie Buffett married Devon Morse, with whom he has a son, Howard Warren Buffett. He also had four stepdaughters from his marriage to Morse.