“The directors are in agreement that if something were to happen to me tonight, it would be Greg who’d take over tomorrow morning,” he said.
If BHE, one division of the $630 billion Berkshire Hathaway, were a stand-alone public company, it probably would be worth well over $50 billion, Barron’s reports.
Abel has been with Buffett for more than two decades, most recently leading Berkshire Hathaway Energy.
Yet count Berkshire Hathaway as one of the companies most criticized by the influential Climate Action 100+ investor group.
“If you look at our investment through the end of 2020, we’ve invested $30 billion, or in excess of $30 billion, into renewables, and have really completely changed the way our businesses do business, i.e.
Buffett, whose vision still captures the imagination of investors, has no doubt embraced clean energy, but on a slower timeline.
“Our country’s electric utilities need a massive makeover in which the ultimate costs will be staggering,” he said in the recent shareholder letter.
BHE would also need to deal with hundreds of landowners and execute complicated contracts with both the suppliers that generated renewable power and the far-away utilities that would distribute the electricity to their customers.
The phrase “unrealistic visionaries” rings out as a shot against the most aggressive calls for the U.S.