Charles Esther
Warren Buffett, the legendary investor and longtime CEO of Berkshire Hathaway, has announced that he plans to step down from his position at the end of this year.
The 94-year-old billionaire broke the news during Berkshire Hathaway’s annual shareholders meeting in Omaha, Nebraska, receiving two standing ovations and a wave of heartfelt applause from the audience.
He told shareholders that he would recommend Greg Abel, vice chair of non-insurance operations, as his successor.
A Transformational Legacy: From Textile Mill to $1 Trillion Giant
Buffett’s tenure at Berkshire Hathaway spans 55 years.
In 1965, he purchased the struggling textile company and slowly transformed it into a powerhouse conglomerate now valued at over $1 trillion.
Under his leadership, Berkshire acquired or invested in iconic companies like Geico, See’s Candies, BNSF Railway, Coca-Cola, and American Express.
Berkshire’s Class A shares soared by roughly 5,500,000% under Buffett’s stewardship—compared to the S&P 500’s 39,000% over the same period.
Greg Abel: The Successor to a Legend
If the board agrees, Greg Abel will officially take the reins in early 2026.
Abel currently oversees all of Berkshire’s non-insurance businesses and is widely seen as a capable and trusted lieutenant of Buffett.
While Buffett is stepping aside, he leaves behind massive shoes to fill and a company shaped by his investing philosophy and leadership values.
Abel will now be tasked with leading Berkshire in the face of market turbulence and high investor expectations.
Exiting at a Peak
Buffett’s exit comes during a high point in Berkshire’s history.
The company’s stock has surged 20% this year alone, even as the broader S&P 500 declined by 3%.
This strong performance underscores Buffett’s ongoing influence in navigating uncertain economic conditions, including trade tensions and inflationary pressures.
An Icon of Value Investing and Stewardship
Buffett, also known as the “Oracle of Omaha,” built a legacy defined by disciplined investing, long-term value creation, and transparent communication with shareholders.
His annual letters to investors became must-reads, filled with wisdom on business, life, and leadership.
Despite giving away more than half of his shares to philanthropic causes, Buffett still ranks as the fifth-richest person in the world, with a net worth of $169 billion.
Looking Ahead
As Warren Buffett prepares to pass the torch, the investment world reflects on his remarkable contributions to global business.
From guiding Berkshire to historic heights to shaping generations of investors, Buffett’s legacy is cemented as one of the greatest CEOs in history.
His departure will mark the end of an era—but also the beginning of a new chapter under Greg Abel’s leadership.
