Warren Buffett is stepping down as CEO of Berkshire Hathaway, which owns more than 20% of Apple shares
The 94-year-old billionaire will hand over leadership to Greg Abel at the end of 2025, but will remain with the company in an advisory role.
The 94-year-old billionaire will hand over leadership to Greg Abel at the end of 2025, but will remain with the company in an advisory role.
During Berkshire Hathaway’s annual shareholder meeting on May 3, Warren Buffett announced that he would ask the board of directors to appoint Greg Abel as the company’s new CEO starting at the end of 2025, CNBC reported. His successor will be Greg Abel, 62, vice president of non-insurance operations who has been with the company since 2000. Buffett said that the time has come for Abel to lead the company, although the final decision must still be approved by the board of directors.
Warren, who led Berkshire Hathaway for 55 years, transformed it from a textile mill into a conglomerate worth more than $1 trillion. Under his leadership, the company invested in various industries, including insurance, energy and technology. In particular, even after selling some of its Apple shares, the company remains Berkshire’s largest asset, accounting for more than 20% of its investment portfolio.
Who is Greg Abel?
He began his career as an accountant at PricewaterhouseCoopers and later joined CalEnergy, which was acquired by Berkshire Hathaway in 2000. Greg quickly rose through the ranks, becoming CEO of Berkshire Hathaway Energy in 2008. Within 10 years, Abel was appointed vice chairman of Berkshire Hathaway’s non-insurance operations and joined the company’s board of directors.
Although Buffett is stepping down as CEO, he plans to remain with the company in an advisory role. He also confirmed that he has no intention of selling his Berkshire Hathaway shares, but plans to donate them to charity.
How did Buffett make money on Trump’s tariffs?
Warren owns shares in major American companies. However, due to the new tariffs imposed by the Trump administration, his fortune has not decreased. So far, Buffett has earned more than $ 11.5 billion from raising tariffs.
Buffett’s resignation announcement sparked widespread reactions in the business community, with Bill Gates calling him «one of the greatest CEOs in history» and Tim Cook highlighting his «undisputed integrity and positive impact on American capitalism.»
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