David Sokol, who has spent most of his career with Berkshire Hathaway, has resigned from the company. He said that he has taken the decision so that he can spend more time with his family and make some philanthropic efforts.

Mr. Sokol was the head of MidAmerican Energy and was also placed as the in charge of company's fractional jet-sharing program, NetJets. He has played a significant role in the investments of Berkshire Hathaway. He was also involved in Buffett's decision to purchase a 10% stake in the Chinese electric car company, BYD. Buffett was surprised by Sokol's decision to resign.

Sokol has become the third leader of Berkshire Hathaway to resign over the past years. The reason behind his resignation is not known yet. Rumors indicate that David Sokol was involved in some kind of illegal insider trading related to the company. He was mainly involved in the business of making investments.

He was purchasing shares in other companies with ties to Berkshire. This move of David Sokol has raised many questions. Specifically, questions have been raised regarding his decision to personally purchase shares of Lubrizol, even before the company was acquired by Berkshire Hathaway.