Warren Buffett announces retirement from Berkshire Hathaway, causing drop in shares
From Yahoo Finance: 2025-05-18 17:43:00
Warren Buffett’s Berkshire Hathaway is valued at just under $1.1 trillion, ranking among the top U.S. companies. Berkshire is up 13% in 2025, outperforming Tesla. Buffett announced his retirement after 60 years; Greg Abel will be the new CEO.
Buffett’s decision to retire has led to a drop in Berkshire’s shares by nearly 5%. The uncertainty following his retirement has affected investor confidence. Berkshire has a diverse portfolio, including utilities, insurance, and popular brands like Dairy Queen.
Buffett’s investment prowess includes successful bets on Apple and American Express, stabilizing Wall Street during the 2008 financial crisis. Berkshire’s 28% stake in Occidental Petroleum faces challenges due to low oil prices. Berkshire’s cost basis in Occidental is estimated to be in the low $50s.