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Warren Buffett, the legendary investor and longtime CEO of Berkshire Hathaway, announced during the company’s annual meeting that he will step down as CEO at the end of 2025. At 94, Buffett surprised thousands of shareholders by recommending Greg Abel, current head of non-insurance operations and long-designated successor, to succeed him.
Abel will assume full control over capital allocation and company decisions, while Buffett plans to remain an advisor without selling his shares. This marks the end of Buffett’s six-decade tenure since transforming struggling textile firm Berkshire Hathaway in 1965 into a global investment powerhouse with an approximately $300 billion stock portfolio and $350 billion cash reserves. Under Buffett, Berkshire acquired companies like Geico, Dairy Queen, and BNSF Railway, while achieving remarkable returns—its Class A stock rose from $20 in 1965 to over $809,000 in 2025.
Though his exit signals the end of an era, Abel has already taken a larger role following Charlie Munger’s death in 2023 and pledges to maintain Berkshire’s investing philosophy. Analysts anticipate a smooth transition, though investors seek clarity on the future of stock selection previously managed largely by Buffett.
