From Yahoo Finance: 2025-05-03 14:37:00

Warren Buffett announced plans to step down as CEO of Berkshire Hathaway by year-end, naming Greg Abel as his replacement. Buffett, 94, will remain involved with the conglomerate. He has no plans to sell his shares, expecting them to be donated after his death. Abel has been groomed for years as his successor. Buffett received a standing ovation for his decades of service. Berkshire Hathaway is now worth over $1 trillion, with Buffett’s net worth exceeding $168 billion. Buffett took over the failing textile company in 1965 and has led it for 60 years. His son, Howard, is expected to become non-executive chairman.



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