Warren Buffett, the popular American billionaire investor, has announced that he will step down as the Chief Executive Officer (CEO) of Berkshire Hathaway, the investment company he has led for almost 60 years. The announcement was made during the company’s annual shareholders meeting in Omaha, Nebraska, United States, on Saturday, May 3, 2025.
Buffett, who is now 94 years old, has been the CEO of Berkshire Hathaway since 1965. Under his leadership, the company grew from a struggling textile business into one of the biggest and most successful investment conglomerates in the world. Berkshire Hathaway is currently valued at $1.16 trillion and owns or holds shares in many companies including insurance firms, railways, energy businesses, and popular brands like Coca-Cola, Apple, and Dairy Queen. Over the years, Berkshire Hathaway’s Class A shares have gone up by over 5.5 million percent, making Buffett one of the richest men in the world.
The person who will take over from Buffett is Greg Abel. Abel is currently the Vice Chairman in charge of all the non-insurance businesses at Berkshire Hathaway. He joined the company in 1992 and became Vice Chairman in 2018. He is expected to take full control as CEO by the end of 2025. Even after stepping down as CEO, Buffett will still be part of the company. He will remain as Chairman of the Board, which means he will still help guide the company’s overall direction.
Following the announcement of Buffett’s plan to retire, the company’s Class B shares dropped by nearly 2% in early trading. This shows that some investors are worried about what the future holds for the company without its long-time leader. However, market analysts say that the daily running of the business may not change much because Greg Abel has experience, and the company is already structured in a way that allows its businesses to operate independently.
The board of directors at Berkshire Hathaway has fully supported Abel’s appointment, saying they believe he will keep the company’s culture and strong performance going. Abel is known for having a leadership style that is similar to Buffett’s. He is expected to continue with the company’s usual strategy of making long-term investments and building value for shareholders.
Warren Buffett’s decision to leave the role of CEO marks the end of a very important era for Berkshire Hathaway and the global business world. Known as the “Oracle of Omaha,” Buffett is famous for his simple but effective investment strategies and his yearly letters to shareholders, which are read by investors around the world. Aside from business, he is also known for giving away a large part of his wealth to charity. Through the Giving Pledge, he has promised to donate more than 99% of his fortune to charitable causes.
Now that the company is preparing for a leadership change, many investors and observers will be watching closely to see how it performs under Greg Abel. The goal is to ensure that Berkshire Hathaway remains strong, stable, and successful in the coming years.
