The End of An Era! Warren Buffett To Step Down as CEO Of Berkshire Hathaway

Warren Buffett, the 94-year-old billionaire investor known as the "Oracle of Omaha," announced on Saturday that he will step down as CEO of Berkshire Hathaway by the end of 2025, concluding a 60-year tenure that transformed the company from a failing textile mill into a $1.16 trillion conglomerate.

The announcement, made at the annual shareholder meeting in Omaha, Nebraska, stunned attendees, with Buffett recommending Vice Chairman Greg Abel, 62, as his successor.

Buffett, who informed only his children Susie and Howard, both board members, of his decision, said Abel would assume full control, though Buffett plans to “hang around” in an advisory role.

Also Read: Tension Continues to Brew! PM Modi Meets IAF Chief for 45 Minutes

“The time has arrived for Greg to become CEO,” Buffett stated, earning two standing ovations from the 40,000-strong crowd. Abel, who joined Berkshire Hathaway Energy in 1992 and became vice chairman in 2018, was endorsed by Buffett for his ability to outperform.

The meeting, dubbed “Woodstock for Capitalists,” also saw Buffett criticize President Donald Trump’s tariffs, warning, “Trade should not be a weapon,” amid global economic concerns.

Business leaders like Apple CEO Tim Cook praised Buffett’s legacy, with Cook noting, “There’s never been someone like Warren.” Investors expressed confidence in Abel but acknowledged the end of an era for Berkshire, which owns stakes in Geico, Apple, and Coca-Cola.

Also Read: Deal Failed! Tata Play and Airtel Call off DTH Merger Talks