Sat, 03 May 2025

Sat, 03 May 2025 Warren Buffett, 94, stepping down as Berkshire Hathaway CEO

The veteran investor known as the Sage of Omaha told his company's annual meeting that he would hand over the reins to Vice-Chairman Greg Abel.

* Warren Buffett will retire as CEO of Berkshire Hathaway at the end of the year.
* He will be succeeded by Vice-Chairman Greg Abel, who was handpicked by Buffett four years ago but had no idea he would take over as CEO.
* Buffett built Berkshire Hathaway from a failing textile maker into an investment juggernaut worth $1.16tn (£870bn) and is considered the world's most successful investor.
* He has no plans to sell his Berkshire stocks, saying "I have no intention, zero, of selling one share of Berkshire Hathaway."
* Apple CEO Tim Cook was among those praising Buffett's business legacy and welcoming Abel as his successor.
* Berkshire Hathaway owns more than 60 companies, including Geico, Duracell, and Dairy Queen, and has major stakes in Apple, Coca Cola, Bank of America, and American Express.
* Buffett is the world's fourth-wealthiest person, with a net worth of $154bn, but lives in a modest house he's owned for over 65 years.
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