Warren Buffett to step down as Berkshire Hathaway CEO in 2025, Greg Abel to succeed

From Nasdaq: 2025-05-05 03:06:00

Warren Buffett, CEO of Berkshire Hathaway, has overseen a 6,540,015% gain in the company’s Class A shares over the past 60 years. He announced his plans to step down at the end of the year, recommending Greg Abel as his successor. Abel aims to maintain continuity and uphold the long-term ethos built by Buffett and Charlie Munger. Berkshire Hathaway will continue to benefit from its cyclical ties to the U.S. economy under Abel’s leadership. The biggest change will be in the final approval of acquisitions and investments, which will now be Abel’s responsibility. Buffett will remain as non-executive chairman to provide guidance when needed. Todd Combs and Ted Weschler have been making more short-term investments for Berkshire Hathaway, diverging from Warren Buffett’s traditional buy-and-hold strategy. They invested in companies like Snowflake that Buffett wasn’t involved in, showing a shift towards growth stocks and tech. This could lead to more active trading in the future. The Motley Fool Stock Advisor team didn’t include Berkshire Hathaway in their list of top 10 stocks to buy now, which have historically outperformed the S&P 500. Consider joining Stock Advisor for access to their latest recommendations and potential high returns. 1. The stock market reached new highs today, with the S&P 500 closing at a record high of 4,500 points. This marks the sixth consecutive day of gains for the index, driven by strong performances from tech and healthcare stocks.

2. In other news, the Labor Department reported that the unemployment rate fell to 5.2% in the month of August, down from 5.4% in July. This is the lowest unemployment rate since the start of the pandemic, indicating a strong recovery in the labor market.

3. Hurricane Ida made landfall in Louisiana as a Category 4 storm, causing widespread destruction and leaving over a million people without power. The storm is now moving inland, bringing heavy rain and strong winds to parts of the Southeast. Authorities are urging residents to stay safe and evacuate if necessary.



Read more at Nasdaq: Warren Buffett Is Set to Step Down as Berkshire Hathaway CEO at the End of 2025: Here’s What Will and Won’t Change (and What Already Has)