From Yahoo Finance: 2025-05-03 16:31:00

Warren Buffett, CEO of Berkshire Hathaway, announced plans to step down by the end of the year, succeeded by Greg Abel. Details of the departure are still being finalized, with Abel set to take over as CEO on Jan. 1, 2026. Buffett’s announcement surprised attendees at Berkshire’s annual meeting.

Buffett, a highly successful investor, emphasized the importance of free trade during the meeting, urging against using trade as a weapon. He plans to remain involved after stepping down, offering guidance on big deals. Buffett also noted he has no intention of selling any of his Berkshire shares, holding a significant stake in the company.

Berkshire Hathaway, under Buffett’s leadership, has become one of the largest conglomerates in the US with diverse holdings like Geico, BNSF Railway, and Apple. The company’s value, including its massive investment portfolio, ranks among the top in the market. Buffett’s legacy includes strategic investments and a focus on value investing principles.

Read more: Warren Buffett plans to step down as Berkshire CEO