That is the question. I'm not a Berkshire-head, but from what I know Buffett seems to run a pretty decentralized shop and take succession planning seriously.

He mentions how accolades belong to talented BH managers rather than himself in almost every letter.

He’s not the only one who knows the secret:

https://www8.gsb.columbia.edu/articles/columbia-business/sup...

He’s made his ideas known for half a century.

The real genius to Berkshire success is how Buffet has structured his business.

Their success is not just a sequence of good investments. They make sound investments but sometimes they fail and they may cling to them too long (IBM, textiles). Heinz may turn out to be bad investment when it seems that consumer tastes are changing. I'm not sure about Wells Fargo either.

Berkshire insurance and reinsurance business is producing of steady flow of cash and float they need to invest. It's the cheap money they have available at all times that is the secret sauce. The result is profitable investment opportunities without the middlemen.

TL;DR: Other companies go to Goldman Sachs to finance their investments. Goldman Sachs goes to Berkshire Hathaway to fiance their business.

I'll probably continue to own Berkshire as long as Buffett-selected managers (Jain, Abel, Combs, Weschler) are running the show. They've been making many of the important decisions for years now, and I would trust them to act in the spirit of Buffett & Munger when evaluating risks and opportunities.

I won't speculate on an era after that because ideally they would stay as the management/investment team for quite a long time.

Probably it will for quite a while. His potential successors are smart and the existing strategies sound.

His son is going to take over. Howie I believe, yes the one that spent some time digging basements for a living - source "the snowball"