George Soros, 92, said on Monday he is passing down his US$25bln empire to his son, further reducing the number of super veterans still running global businesses.
Soros, known for netting US$1bln through shorting the pound back in the 90s, will now let his son, Alexander, take control of his Open Society Foundation (OSF).
The OSF helps back liberal projects, educational organisations, human rights cases and the US democratic party.
So, with Soros’s departure, we take a look at the other members of the old brigade.
Warren Buffett
Warren Buffet Source: NBC News
Arguably the greatest investor ever, Buffett, 92, still chairs and heads Berkshire Hathaway.
In his time, he led the way the investing in Apple, Coca-Cola and the Bank of America, helping Berkshire outperform both the S&P 500 and Dow Jones.
His hand-picked successor and current boss of Berkshire Hathaway Energy, Greg Abel, isn’t expected to take over anytime soon either.
Last month Ron Olson, a long-time board member, said Buffet’s “energy is amazing”.
“Don’t count on Greg taking over tomorrow,” he added.
Charlie Munger
Vice president of Berkshire Hathaway and long-time partner of Buffett, the 99-year-old could become one of the first Centenarian bosses when we reach 2024.
Munger made headlines earlier this year for his comments about cryptocurrency, calling it “worthless” and “crazy, stupid gambling”.
The serial investor has offered little sign of retiring and has even written several tips for living a happy life, including not overspending your income – not too difficult when your net worth is US$2.5bln.
Rupert Murdoch
Rupert Murdoch alongside sons Lachlan, left, and James. Source Guardian
Another nonagenarian at the head of a giant corporation, Murdoch at 92 runs the media conglomerate News Corp (NASDAQ:NWS), which encompasses firms like Fox News, The Wall Street Journal and The Times.
With a net worth of US$17.3bln the question of Murdoch’s successor has been a talking point for years.
It initially appeared that eldest son and head of Fox Corp, Lachlan Murdoch, would take over the empire when his father passes.
Yet, Australian reporter Paddy Manning revealed in a book about that family that analysts wouldn’t be surprised if “Lachlan gets fired the day Rupert dies”.
The fight to take over from the empire has been parodied in HBO’s Succession, as the fictional Roy family battle for the top role of multinational media conglomerate Waystar Royco.
Nelson Peltz
Nelson Peltz Source: The New York Times
Slightly younger than others on this list at 80 years old.
Peltz is worth US$1.5bln and manages around US$8.5bln in assets at his investment firm, Train Fund Management.
An activist investor, he’s battled with companies like Procter & Gamble (NYSE:PG), and Unilever for a board seat which they initially did not want to give, but ultimately Peltz won.
Most recently Peltz launched a proxy fight with Disney after a slump in the company’s share price post-pandemic.
However, the New York native quickly bowed out of this battle following the return of CEO Bob Iger and plans to restructure the company.
Peltz appears to have no plans of retiring soon and is yet to announce a successor at Train.