In a historic development, Warren Buffett, the billionaire investor and one of the most influential figures in global finance, has announced his retirement as CEO of Berkshire Hathaway by the end of 2025. The announcement was made during Berkshire Hathaway’s annual shareholder meeting, where Buffett expressed confidence in his successor, Greg Abel, currently serving as Vice Chairman of Non-Insurance Operations.

Buffett, now 94, has long been known for his disciplined value investing strategies, ethical business practices, and long-term vision. Under his leadership, Berkshire Hathaway transformed from a struggling textile company into a multinational conglomerate with holdings in insurance, utilities, consumer goods, and tech, including major stakes in Apple, Coca-Cola, and American Express.

Despite a 14% dip in Q1 2025 earnings, Berkshire stock hit a record high, buoyed by a cash reserve of $347.7 billion, showcasing the company's resilience and investor trust.

Also Read: Elon Musk Establishes 'Starbase' City in Texas

The transition to Abel signals a new chapter for Berkshire. Abel has been instrumental in managing the company’s vast portfolio of non-insurance businesses and is praised for his operational expertise and alignment with Buffett’s core values.

Buffett's departure marks the end of a legendary tenure but also reinforces the company’s preparedness for life beyond his leadership. Investors, while nostalgic, appear confident that Berkshire’s future remains in steady hands.