Warren Buffett formally hands over the reins to Greg Abel at the Berkshire Hathaway Annual Shareholders Meeting in Omaha. Class A shares slip 1.4% on Abel’s first day as CEO. Despite trailing the S&P 500 in 2025, Buffett remains confident in Berkshire’s long-term prospects under Abel’s leadership.

Buffett reassures shareholders of Berkshire’s enduring future, emphasizing its potential to last 100 years. Abel takes the helm with $381.6 billion in cash reserves, with final say on capital allocation. Buffett expresses belief in Abel’s ability to outperform other top investment advisors and CEOs in managing Berkshire’s assets.

As Buffett steps down, Berkshire shares face uncertainty over Abel’s ability to maintain the conglomerate’s success. Buffett leaves behind an unparalleled legacy of transforming Berkshire into a compounding powerhouse, delivering a remarkable compounded annual return of 19.9% over six decades.

Read more at CNBC: Berkshire Hathaway shares dip as Warren Buffett exits and Greg Abel era begins