Video: Bloomberg Says He’s Made Succession Plans for His Company’s Future

I’m 81 years old. Common sense says I should have succession plans, and so I’ve straightened out — everybody knows who’s going to run the company down the road. I’ve got a board that I think can contribute a lot to how they will behave in a world where I’m not there, and I’m a very lucky guy and I have a chance to make the world better. It’s a wonderful chance to make a difference and shame on people who don’t do it. What else are you going to do with — if you make a lot of money, you have to do something with it. It’s not clear that we haven’t already passed a point where there is no coming back. We used to talk about by 2050 we would do something, then about 2040, then 2030. It’s not clear that 2025 isn’t going to step over the line where these things feed on themselves. We are not going to get away from using oil for the next 10 or 15 years, and we’re not going to say everybody that has a gas-guzzling car can’t drive it anymore, and they’ll have to start walking today. You have to be practical Because you’ve just got to get big oil to try to co-opt them and have their practices somewhat better. But it’s irrational to think that they’re all going to go away.