Warren Buffett to Retire as CEO of Berkshire Hathaway at Year-End

Sun Oct 19 2025 04:47:13 GMT+0300 (Eastern European Summer Time)

In a significant leadership transition, Warren Buffett announces his retirement as CEO, passing the torch to Greg Abel.

Buffett, at 94, is widely regarded as one of the most successful investors globally, transitioning from managing a textile company to leading a $1.16 trillion investment giant.

Warren Buffett, the iconic investor known as the Oracle of Omaha, has confirmed his retirement as CEO of Berkshire Hathaway, effective at the end of this year. Speaking at the company's annual meeting, Buffett stated that he believes the time has come for Vice-Chairman Greg Abel to step into the role. “I think the time has arrived where Greg should become the chief executive of the company at year end,” Buffett, 94, remarked amidst applause from the audience of around 40,000 attendees.

This surprise announcement was notably unexpected even for Abel, whom Buffett selected as successor four years prior. Buffett revealed that only his two children, Howard and Susie, were aware of his decision prior to the meeting.

Notably, Buffett underscored his commitment to Berkshire by stating that he has “no intention, zero, of selling one share of Berkshire Hathaway,” emphasizing that his stocks would eventually be donated. The crowd responded warmly to his dedication.

In a show of respect, Apple CEO Tim Cook and other business leaders praised Buffett's remarkable influence on the industry. Cook emphasized that no one compares to Buffett, whose wisdom has inspired countless individuals, including himself.

Buffett, despite facing retirement, previously shared that while he had no immediate desire to step down, he acknowledged he was in “extra innings.” Under his leadership, Berkshire Hathaway has expanded to encompass over 60 companies, including notable names like Geico and Duracell, and holds significant stakes in major corporations such as Apple and Coca-Cola.

Bloomberg ranked Buffett as the world's fourth-wealthiest individual, with a net worth of $154 billion, underscoring his immense success. Despite his wealth, he remains grounded, having lived in the same modest home in Omaha for over 65 years.

Buffett's announcement coincided with his commentary on trade policies under President Donald Trump, where he advocated for global trade relations rather than using trade as a weapon, showcasing his forward-thinking perspective in both business and national economics.