Other fund managers also hold major stakes in Berkshire Hathaway Class B shares. BlackRock owns nearly 111.6 million Class B shares, roughly 8.3% of the total outstanding shares. State Street Corporation ranks high on the list as well, with nearly 71.7 million Class B shares making up 5.35% of the total.

What is Buffett’s legacy?Start the day smarter. Get all the news you need in your inbox each morning. Buffett took over Berkshire in 1965 with a value approach to investing. Value investing includes focusing on identifying and purchasing stocks that are trading below their perceived intrinsic or fair value.

Abel was named vice chairman of Berkshire Hathaway in 2018. Although he has been at the company for more than two decades, he is considered to be much more guarded and hands-on than Buffett.