Warren's son takes the helm

Howard Buffett, 71, became chairman of Berkshire Hathaway on Friday when his father stepped down. He's spent most of his life farming, serving as a sheriff, and photographing war zones across 130 countries.

A career outside finance

Howard has been a Berkshire director for 33 years but built his career in farming, conservation, and humanitarian work. He operates a 1,500-acre family farm in Illinois and runs research farms spanning over 11,000 acres across Arizona and South Africa.

Sheriff and photographer

Howard served as Sheriff of Macon County, Illinois from 2017 to 2018 and still holds the position of undersheriff. He's also published photography from conflict zones including Ukraine and wildlife habitats across roughly 130 countries.

Guarding culture, not operations

Greg Abel continues as CEO handling day-to-day operations and capital decisions. Warren Buffett said Howard's role is to guard Berkshire's culture and values, acting as a check against any future leadership that might unwind the company's buy-and-hold philosophy.

“Greg runs the company; Howard will guard its culture and values, both worth more than anything on our balance sheet.”

Distributing 145 billion dollars

Howard and his two siblings are responsible for distributing most of Warren Buffett's 145 billion dollar fortune through their own foundations, which now distribute roughly 500 million dollars annually combined.

Funding alone won't fix poverty

Howard has emphasized that money can't solve problems in countries like Congo and Sudan without addressing rule of law. He believes funding without addressing governance issues will go nowhere.

“There's a lot of things you can fund that will go nowhere. If you're not addressing the real issue of rule of law then you just can't have success.”