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Warren Buffett Announces Retirement as Berkshire Hathaway CEO After 60 Years

The 94-year-old investor will step down by year-end, endorsing Greg Abel as his successor while retaining his shares and advisory role.

Overview

  • Buffett revealed his retirement plans during Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska, surprising attendees and board members alike.
  • Greg Abel, Berkshire's Vice Chairman, has been recommended as the next CEO, with Buffett expressing confidence in Abel's leadership and continuity of the company's values.
  • Buffett assured shareholders he will retain all his Berkshire shares, emphasizing his belief in the company's future under Abel's management.
  • He warned against the use of trade as a weapon, describing tariffs as potentially destabilizing and likening them to acts of war.
  • Buffett reflected on his six decades of leadership, transforming Berkshire from a struggling textile firm into a $1 trillion conglomerate.