Overview

• Warren Buffett has officially proposed Greg Abel as his successor to lead Berkshire Hathaway starting in 2026, ending his six-decade tenure as CEO.
• Buffett will transition to an advisory role, retaining influence but ceding operational decision-making to Abel.
• At Berkshire's annual meeting, Buffett criticized the use of tariffs as a weapon, warning that antagonizing global trade partners is a 'big mistake' for the U.S.
• Buffett reaffirmed his belief that global economic prosperity benefits the U.S. and called for balanced trade policies over protectionist measures.
• Under Buffett's leadership, Berkshire Hathaway evolved from a struggling textile firm into a $1 trillion conglomerate with stakes in Apple, Coca-Cola, and other major companies.