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After six decades in the job he bought for himself with what he’s called the “dumbest” investment of his life, Wednesday was Warren Buffett’s last day as Berkshire Hathaway’s CEO.
His strategy of using insurance premiums, “float,” to make brilliant investments in stocks and to help buy entire companies transformed the struggling textile mill into a $1 trillion conglomerate and made him one of the wealthiest people in the world with a net worth of more than $150 billion.
He has already given away stock currently valued at $208 billion and has directed his children to eventually donate virtually all that’s left.
