Meet Tracy Britt, Warren Buffett's 28-year-old protege
The 82-year-old investor is grooming the former farm girl and Harvard MBA for a senior role at Berkshire Hathaway when he steps down.
Warren Buffett is arguably the best-known and most successful investor in America. But one big question tugging at his Berkshire Hathaway (BRK.B) shareholders is what his company will look like when he steps down.
While that remains a mystery, one 28-year-old employee is emerging as a rising star and being groomed by Buffett to take on a senior role when he's no longer running the show, The Wall Street Journal reports.
That employee is Tracy Britt, who holds a Harvard MBA and shares Buffett's Midwestern roots, having grown up on a Kansas farm. She's emerging as one of his top executives and serves as chairman of four companies in his conglomerate (she's not among those pictured).
Buffett last month said he knows who his successor is but is not ready to disclose that information. Leading candidates include investment managers Todd Combs and Ted Weschler, as well as MidAmerican CEO Greg Abel, the Atlantic reports.
Like Combs and Weschler, Britt was picked by Buffett from relative obscurity and then tapped to handle major Berkshire responsibilities.
Here are five more facts about Britt:
She took a bushel of corn to her interview. When she arrived in Omaha, Neb., in 2009 to meet Buffett, she took a gift that underscored their shared roots to the Plains states -- a bushel of corn and some tomatoes.
Britt is the chairman of companies with $4 billion in annual sales. Four years after her initial interview, Britt now serves as the chairman of paint manufacturer Benjamin Moore and building products company Johns Manville.
Some people see her as a replacement for David Sokol. He was Buffett's former protege and a former Berkshire business manager who resigned in 2011 amid a conflict-of-interest controversy.
Britt has an "internal guiding system." Jane Hanson, the founder of the women's networking group 85 Broads, describes Britt as having "some sort of internal guiding system that was propelling her forward." When Hanson asked her interns to pick stocks they thought were good investments, Britt avoided highfliers like BlackBerry (BBRY) and picked Unilever (UL), the type of practical company Buffett favors.
Britt's family farm started in 1948. She grew up on Britt's Garden Acres, outside Manhattan, Kan., started by her family in 1948. The farm grows produce ranging from sweet corn to strawberries and runs tours and barn parties.
Follow Aimee Picchi on Twitter at @aimeepicchi.
When you "meet" someone, it is normally face to face or at least for us, a good picture would do. All we have now is a bushel of corn and some tomatoes to relate to.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market capped the trading week with losses across the major averages. The S&P 500 fell 0.5% to surrender its weekly gain, while the Dow Jones Industrial Average (-0.7%) and Russell 2000 (-0.9%) underperformed. The two indices posted respective losses of 0.8% and 0.6% for the week.
Equity indices were pressured from the get-go after several heavyweights disappointed the market with their earnings and/or guidance, which led to some broader profit-taking. After ... More
More Market News
The idea of US crude being a shelter from turmoil abroad may not be as far fetched as it seems.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'