Who will succeed Warren Buffett? Greg Abel, says Berkshire VP Charlie Munger accidentally

The question as to who will succeed billionaire 90 year-old Warren Buffett has been a mysterious one. Until now. Berkshire Hathaway Vice Chairman Charlie Munger inadvertently revealed who would succeed Chairman Warren Buffett at the company's annual meeting on Saturday.

To a question if the company would become too complex to manage, 97 year-old Munger responded, Abel would manage, CNBC reported. Munger is long-time friend and business partner of Buffett.

CNBC has confirmed it would be 55 year-old Vice Chairman Greg Abel. “If, heaven forbid, anything happened to Greg tonight then it would be Ajit,” Buffett said, referring to 66 year-old Vice Chairman Ajit Jain, a report in CNBC said.

The news report cited Buffett who said the company's directors are in agreement that if something were to happen to him, then Abel would take over as CEO.

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Berkshire Hathaway is a multi-billion-dollar investment firm owned and run by legendary investor Buffett.

For a long time it was assumed David Sokol who helmed both MidAmerican Energy, now called Berkshire Hathaway Energy, and NetJets for Berkshire would be Buffett's successor. But Sokol left Berkshire in 2011.