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4d ago

Warren Buffett Prepares to Step Down as Berkshire CEO, Passing the Reins to Greg Abel

Buffett will transition to chairman by the end of 2025, leaving Abel to lead a company with a record $347.7 billion cash reserve and a legacy shaped by transformative investments like Apple.

Greg Abel will succeed Warren Buffett as the head of Berkshire Hathaway.
On Saturday Warren Buffett announced he would step down from his role as CEO of Berkshire Hathaway, the company he has led for 60 years.
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Warren Buffett became CEO in 1970 after his investment partnership acquired Berkshire, then a textile business, in 1965.

Overview

  • Warren Buffett, 94, announced he will step down as CEO of Berkshire Hathaway at the end of 2025, transitioning to the role of chairman.
  • Greg Abel, vice chairman overseeing non-insurance operations, will assume the CEO role starting January 1, 2026, as confirmed by Berkshire's board.
  • Berkshire Hathaway holds a record $347.7 billion in cash and short-term investments, highlighting its opportunistic capital allocation strategy.
  • Buffett credited Apple CEO Tim Cook for delivering unprecedented returns, with Berkshire's Apple stake valued at $174 billion in 2024 after an initial $40 billion investment starting in 2016.
  • Retail investors showed strong confidence in Berkshire's future, pouring over $24 million into Class B shares on Monday, marking the largest inflows since 2016.