OMAHA, Neb. (AP) — The two men who might eventually replace Warren Buffett as CEO of Berkshire Hathaway have disclosed how much stock they own in the conglomerate.
Ajit Jain and Greg Abel were both promoted to vice chairmen last week as part of Berkshire’s succession plan to replace Buffett one day. As a result, they had to disclose how much Berkshire stock they control.
Regardless of which man eventually takes over for the 87-year-old Buffett, there will be a significant change in CEO ownership. Buffett controls about 33 percent of Berkshire’s voting shares.
Jain, who will oversee Berkshire’s insurance operations, holds stock worth nearly $111 million although some shares are held by his charitable foundation and some by his wife.
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Abel, who will oversee Berkshire’s non-insurance businesses, owns stock worth $2.1 million.