Warren Buffett, the 94-year-old investor known as the Oracle of Omaha, has announced he will retire as CEO of Berkshire Hathaway at the end of the year. During his company's annual meeting, he shared the news with around 40,000 attendees, stating he believes it’s time for Vice-Chairman Greg Abel to take charge. Buffett humorously noted that while he appreciated the audience's applause, it could be interpreted in different ways.
The decision was kept secret until now, with only his children, Howard and Susie, being aware. Interestingly, Abel seemed surprised by the announcement, despite being Buffett's successor for four years. Buffett affirmed he won’t sell his Berkshire stock, declaring, "It will get given away," which stirred cheers from the crowd.
Business leaders, including Apple’s Tim Cook, praised Buffett’s significant legacy in the industry. Even though Buffett has hinted at retirement in past letters, he remained active as he guided Berkshire Hathaway, which owns over 60 companies, including Geico and Duracell and holds substantial shares in major firms like Apple and Coca-Cola. Despite his immense wealth, Buffett has maintained a modest lifestyle, living in the same Omaha home for over 65 years.
Buffett has been a vocal critic of the use of trade tariffs as a weapon and emphasized the importance of global trade relations during his recent address, highlighting his longstanding belief in cooperation over conflict.
The decision was kept secret until now, with only his children, Howard and Susie, being aware. Interestingly, Abel seemed surprised by the announcement, despite being Buffett's successor for four years. Buffett affirmed he won’t sell his Berkshire stock, declaring, "It will get given away," which stirred cheers from the crowd.
Business leaders, including Apple’s Tim Cook, praised Buffett’s significant legacy in the industry. Even though Buffett has hinted at retirement in past letters, he remained active as he guided Berkshire Hathaway, which owns over 60 companies, including Geico and Duracell and holds substantial shares in major firms like Apple and Coca-Cola. Despite his immense wealth, Buffett has maintained a modest lifestyle, living in the same Omaha home for over 65 years.
Buffett has been a vocal critic of the use of trade tariffs as a weapon and emphasized the importance of global trade relations during his recent address, highlighting his longstanding belief in cooperation over conflict.
