From Yahoo Finance: 2025-05-03 06:06:00

Warren Buffett will step down as Berkshire Hathaway CEO at the end of 2025, handing over to Greg Abel. Buffett, 94, plans to stay involved but give Abel the final word. The move was praised by CEOs and investors. Abel, 62, has been a vice chairman since 2018 and was named the expected successor in 2021. Buffett’s fortune is $168.2 billion according to Forbes. Berkshire’s stock has risen 19% this year. Buffett has given away more than half his shares to charity since 2006. Abel faces challenges in growing Berkshire while preserving its culture. Howard Buffett, 70, is expected to become non-executive chairman.

Read more: Buffett to step down as Berkshire CEO after 60 years at helm, passes baton to Abel