Buffett Says Berkshire Stock Will Rise After He Dies

At Berkshire Hathaway’s annual meet last Saturday, CEO octogenarian Warren Buffett assured shareholders that they’ll be fine if he were to pass on, according to this week’s Bloomberg.

“If I die tonight,” Buffett said, “I think the stock would go up tomorrow.” He added, “And there’d be speculation about breakups and all that sort of thing, so it would be a good Wall Street story.” Buffett said, however, that if the stock were to lose value, Berkshire’s board would consider buying back shares if it were in the best interest of shareholders.

The billionaire CEO said that Berkshire will require significant capital allocation going forward, and his yet-to-be-named successor may have to allocate as much as $400 billion over the coming years, “maybe more.” He shared his hope that the successor would already be “very rich” and therefore wouldn’t be motivated by the desire to have 10 or 100 times as much money as they need, the article says.

Buffett makes one thing clear, however, and that is that Berkshire won’t need a consultant to figure out how to compensate whoever takes the reigns. “If the board hires a compensation consultant after I go,” he quips, “I will come back.”