Berkshire Hathaway has a better chance of being here 100 years from now than any other company: Warren Buffett

Warren Buffett has expressed strong confidence in Berkshire Hathaway’s long-term future and in his successor Greg Abel, saying the company has a better chance of enduring for the next century than any other that he can think of.

"It has a better chance I think of being here 100 years from now than any company I can think of," Buffett told Becky Quick in a special interview, parts of which aired on CNBC on Friday.

Buffett said Abel will take over key decision-making responsibilities.

"Greg will be the decider. I can’t imagine how much more he can get accomplished in a week than I can in a month. I would rather have Greg handling my money than any of the top investment advisors or any of the top CEOs in the United States."

Highlighting Abel’s grounded personality, Buffett said, "He’s not a distorted individual. You know, I mean, he likes to play ice hockey with his kids."

He added that Abel’s stature is not obvious in daily life. 

"If the neighbours didn’t know who he was, they wouldn’t have any idea that on Jan. 1, he’s going to be the decider on a company that employs close to 400,000 people, and has got plans to be around 50 or 100 years from now."

Buffett also said his role at Berkshire will change but not disappear.

"Everything will be the same. I will come in. I won’t be up there speaking at the annual meeting, but I’ll be in the directors’ section," he said.