Buffet Sokol investment scandal

BoardroomWarren Buffet has long been viewed as one of the most respected investors in the field, amassing a personal fortune in the billions of dollars.  His skills and ethics are often made the measuring rod of the industry, but the actions of one of his top lieutenants and Buffet’s own distancing dance from him calls into question his overall method of doing business.  David Sokol, formerly the chairman of MidAmerican Energy Corp and Buffet’s presumed successor, has been accused of misleading Buffet’s company, Berkshire Hathaway, and the public about his investments in the Lubrizoil Corp.  He has since resigned his position.

Initially, Buffet stated that he felt Sokol had never intentionally misled anyone, but the report released by Berkshire Hathaway seems to contradict this, as it places all blame squarely on Sokol.  Buffet clearly distances himself and his company from the scandal and condemns the actions of his former lieutenant.  Many are skeptical at Buffet’s attempt, and his upcoming stockholders meeting later this month should prove interesting.

 



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Warren Buffet has long been viewed as one of the most respected investors in the field, amassing a personal fortune in the billions of dollars.  His skills and ethics are often made the measuring rod of the industry, but the actions of one of his top lieutenants and Buffet’s own distancing dance from him calls into question his overall method of doing business.  David Sokol, formerly the chairman of MidAmerican Energy Corp and Buffet’s presumed successor, has been accused of misleading Buffet’s company, Berkshire Hathaway, and the public about his investments in the Lubrizoil Corp.  He has since resigned his...

BoardroomWarren Buffet has long been viewed as one of the most respected investors in the field, amassing a personal fortune in the billions of dollars.  His skills and ethics are often made the measuring rod of the industry, but the actions of one of his top lieutenants and Buffet’s own distancing dance from him calls into question his overall method of doing business.  David Sokol, formerly the chairman of MidAmerican Energy Corp and Buffet’s presumed successor, has been accused of misleading Buffet’s company, Berkshire Hathaway, and the public about his investments in the Lubrizoil Corp.  He has since resigned his position.

Initially, Buffet stated that he felt Sokol had never intentionally misled anyone, but the report released by Berkshire Hathaway seems to contradict this, as it places all blame squarely on Sokol.  Buffet clearly distances himself and his company from the scandal and condemns the actions of his former lieutenant.  Many are skeptical at Buffet’s attempt, and his upcoming stockholders meeting later this month should prove interesting.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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