Everyone will focus on the weird insidery-tradery aspect of David Sokol’s resignation from Berkshire Hathaway, where he was an heir apparent to Warren Buffett.
But this is interesting too, from the letter he delivered to Buffett:
“As I have mentioned to you in the past, it is my goal to utilise the time remaining in my career to invest my family’s resources in such a way as to create enduring equity value and hopefully an enterprise which will provide opportunity for my descendants and funding for my philanthropic interests. I have no more detailed plan than this because my obligations from Berkshire Hathaway have been my first and only business priority.”
This is precisely the opposite of the well-known Buffett philosophy of NOT passing on tons of wealth to future descendents.