said on Saturday that Vice Chairman Greg Abel, who is next in line to succeed billionaire Warren Buffett as chief executive, sold his 1-per-cent stake in the company’s Berkshire Hathaway Energy unit for $870 million.
Berkshire now owns 92% of Berkshire Hathaway Energy, whose businesses include energy, utility and pipeline operations and a large U.S. real estate brokerage. “I suspect that if Abel is selling, Walter Scott’s estate might also liquidate,” said Edward Jones & Co analyst James Shanahan. He became MidAmerican’s chief in 2008, and Berkshire’s vice chairman overseeing its dozens of non-insurance businesses in 2018.
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