28-year-old Harvard graduate to take over Warren Buffett after he retires?
- Jun 13, 2013, 14:21 PM IST
It seems that a 28-year-old Harvard graduate will be taking over from Warren Buffett, the 82-year-old who in 2012 was named the world's third wealthiest person, after he retires. Buffett hired Tracy Britt in 2009 as a financial assistant, and in four short years has become a trusted confidante of the billionaire. She is also working as chairwoman of four of his companies, which bring in $4 billion annually.
Speculations are mounting that Britt is the successor 6 years after, in a letter to shareholders; Buffett announced that he was looking for a younger successor, or perhaps successors, to run his investment business.
According to Daily Mail, “Britt told Haravard Magazine in 2007, ‘Every minute that I had to work on the farm, I hated it. But it actually shaped my dedication, my work ethic, and the way I follow through on the commitments I have made’. She also wrote on Lean In, ‘I had to drown out a great deal of unsolicited advice saying that I absolutely must work before going to business school. I was told again and again that I didn’t have sufficient experience, I wasn’t prepared, and I was downright crazy to think that anyone would hire me in the investing field straight from business school. During one of my classes, we were assigned to write a hypothetical personal reflection for our 10-year reunion. Mine... included this sentence: My goal is to work with a great investor, who even more importantly is a wonderful teacher and mentor. After reading my thoughts, one of my classmates – an individual who worked for large investment firms for several years before business school – told me that I was naive and as a direct admit, I wasn’t aware of what the real world was like and that after I worked a few years, I’d realize just how unrealistic my personal reflection was’. But Britt received the wonderful teacher and mentor of her dreams.”
Buffett first met Britt when she and a fellow graduate founded a not-for-profit organization Smart Woman Securities focused on investment education for undergraduate women in 2006 and he agreed.
Britt’s next met Buffett when she was fresh out of business school in 2009. Following this meeting, she was made Buffett’s financial assistant and has gone from strength to strength.
According to Daily Mail, “In March after Berkshire and Brazilian investment firm 3G Capital announced they would buy ketchup maker H.J. Heinz & Co. for $23 billion, Buffett sent Britt to Brazil. According to the Washington Post, he wanted Britt to be familiar with 3G's operations.”
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