From Yahoo Finance: 2025-05-05 15:11:00

Warren Buffett is stepping down as CEO of Berkshire Hathaway after an incredible run of stock outperformance against the S&P 500. From 1965 to 2024, Berkshire Hathaway stock returned 5,502,284%, with a compound annual gain of 19.9%. During the annual shareholders meeting, Buffett addressed the company’s $347.7 billion cash pile.

Buffett announced his plan to step down as CEO and recommended Greg Abel as his successor. Berkshire Hathaway’s board unanimously approved the move, with Abel set to become CEO on Jan. 1, 2026. Buffett will remain chairman of the board of directors. Buffett emphasized the importance of not making investments just to reduce cash holdings.



Read more at Yahoo Finance: One chart shows how Warren Buffett trounced the S&P 500 over the past 60 years