Warren Buffett, the 94-year-old billionaire investor and long-time CEO of Berkshire Hathaway, has announced he will retire at the end of 2025. During the company’s annual shareholder meeting in Omaha, Nebraska, Buffett recommended that Vice Chairman Greg Abel succeed him as CEO. Buffett will remain as chairman of the board, ensuring a smooth transition. The Daily Beast+11The Guardian+11Fox Business+11Fox Business+6AP News+6AM Best News+6
Key Highlights
- Retirement Announcement: Buffett revealed his retirement plans during the annual shareholder meeting, catching many attendees by surprise. AP News+1Fox Business+1
- Successor: Greg Abel, currently overseeing most of Berkshire’s operations, was named as the next CEO. BBC+14The Guardian+14The Times+14
- Buffett’s Role: Post-retirement, Buffett will continue as chairman, providing guidance during the leadership transition.
About Greg Abel
Greg Abel, 62, has been with Berkshire Hathaway since 1999 and has served as Vice Chairman of Non-Insurance Operations since 2018. He has been instrumental in managing Berkshire’s vast array of businesses outside the insurance sector. Investopedia+6The Daily Beast+6Wikipedia+6The Guardian
Buffett’s Legacy
Under Buffett’s leadership since 1965, Berkshire Hathaway transformed from a struggling textile company into a conglomerate valued at over $1 trillion. His investment philosophy and strategies have been studied and emulated worldwide. BBC+3The Guardian+3Investopedia+3BBC
🔗 Sources
BBC News: Warren Buffett, 94, stepping down as Berkshire Hathaway CEOBBC
The Guardian: Warren Buffett announces retirement from leading Berkshire HathawayThe Guardian
Investopedia: Warren Buffett To Step Down as CEO of Berkshire Hathaway at Year-EndInvestopedia
