A New Chapter for Berkshire Hathaway: Warren Buffett Passes the Torch at 94

Warren Buffett, the legendary investor known as the Oracle of Omaha, has made a groundbreaking announcement: he will retire as the CEO of Berkshire Hathaway at the end of this year. At the company’s annual meeting, attended by approximately 40,000 people, Buffett revealed his successor will be Greg Abel, the current Vice-Chairman, whom he had handpicked four years prior.

Buffett, at the remarkable age of 94, expressed his belief that the time had come for Abel to take over the reins, sharing this decision with barely anyone, aside from his two children. This announcement was met with a lengthy applause, and Buffett humorously noted the mixed reactions it might generate.

During the meeting, he reaffirmed his commitment to Berkshire Hathaway, stating, “I have no intention, zero, of selling one share of Berkshire Hathaway. It will get given away,” to the delight of the audience.

The legacy of Buffett, who transformed Berkshire from a declining textile company into a $1.16 trillion investment powerhouse, has captivated many, including Apple CEO Tim Cook. Cook praised Buffett’s wisdom and expressed confidence in handing the company over to Abel. Buffett recently remarked that, although he had no desire to retire, he acknowledged he was currently “playing in extra innings.”

Berkshire Hathaway boasts a diverse portfolio of over 60 companies, including major brands like Geico, Duracell, and Dairy Queen, in addition to significant stakes in giant corporations like Apple, Coca Cola, and Bank of America.

Remarkably down-to-earth despite his immense wealth of $154 billion, Buffett has lived in the same modest home in Omaha for over 65 years. He is also known for his philanthropic efforts, having donated billions to charity. Amidst his retirement announcement, he also criticized President Donald Trump’s tariffs, advocating for a cooperative global trading approach.

As Warren Buffett steps down, he leaves behind an indelible mark on the investment world, transitioning leadership with confidence in Greg Abel to uphold the company’s legacy.