Possible Buffett heir Abel has small Berkshire stake,
likely to grow
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 [January 20, 2018]
(Reuters) - Greg Abel,
considered by many investors the top contender to succeed Warren Buffett
as Berkshire Hathaway Inc's <BRKa.N> chief executive officer, on Friday
reported owning about $2.1 million of the conglomerate's stock.
Abel, who along with Ajit Jain was named a Berkshire vice chairman and
director last week, disclosed his stake a day after Jain reported a $109
million ownership stake.
The stakes were disclosed in regulatory filings.
Abel, 55, who has run the Berkshire Hathaway Energy unit, was appointed
vice chairman to oversee non-insurance operations such as the BNSF
railroad, Dairy Queen ice cream, Fruit of the Loom underwear and NetJets
planes.
Jain, 66, Berkshire's top reinsurance executive and the other strong
contender to succeed Buffett, was appointed vice chairman to oversee
insurance operations such as Geico auto insurance and General Re
reinsurance.
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Abel reported holding his Berkshire stake indirectly for the benefit of his
family. Berkshire Hathaway Energy said about a year ago that Abel owned a stake
in that unit that could be converted into Berkshire stock worth more than $400
million at the time.
Omaha, Nebraska-based Berkshire said last week that relevant factors in its
succession planning were that both possess "integrity, business savvy, an
owner-oriented attitude and a deep genuine interest in Berkshire."
Buffett, 87, has run Berkshire since 1965 and has not signaled any plans to
leave soon. He owns roughly one-sixth of the company, comprising most of what
Forbes magazine said on Friday is his $91.6 billion fortune.
(Reporting by Jonathan Stempel in New York; Editing by Cynthia Osterman)
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