Warren Buffett has announced that he will step down as the chief executive of Berkshire Hathaway end of 2025.
According to CNN, the American investor and philanthropist, after 60 years with the company and 55 years as the CEO of the multinational conglomerate, said that he will retire by the end of the year.
He made the announcement that many investors knew was coming on Saturday, April 4, 2025 , during the annual shareholder meeting of the company at CHI Health Centre in Omaha, Nebraska.
The 94-year-old veteran investor, known as the Oracle of Omaha, also named his successor in the meeting and said he would hand over the reins to Vice-Chairman Greg Abel, who is also the chairman and CEO of Berkshire Hathaway Energy.
Buffett said, “Greg should become the chief executive officer of the company at year-end, and I want to spring that on the directors effectively.”
Buffett breaks silence on tariffs: ‘Big mistake’
The chairman of Berkshire Hathaway finally shared his views on the ongoing tariff war and called it a “big mistake.”
“Trade should not be a weapon, trade could be an act of war. The United States won. I mean, we have become an incredibly important country, starting from nothing 250 years ago... (America) should do what we do best, and (other countries) should do what they do best.”
Talking about the effect of the trade war on the company, he acknowledged that it might affect the growth “negatively.”
“Changes in macroeconomic conditions and geopolitical events, including changes in international trade policies and tariffs, may negatively affect our operating results and the values of our investments in equity securities and of our operating businesses,” he noted.
But one of the richest men in the world also assured, “I have no intention, zero, of selling one share of Berkshire Hathaway. It will get given away.”
Who is Warren Buffett?
Warren Edward Buffett is arguably the world's most successful investor and chairman and CEO of Berkshire Hathaway , a multinational conglomerate company worth $1.16 tn (£870 bn).
Berkshire Hathaway owns more than 60 companies, including insurer Geico, battery-maker Duracell and restaurant chain Dairy Queen, and has major stakes in Apple, Coca-Cola, Bank of America and American Express, among others.
He earned his first money as a six-year-old, bought his first shares at 11 and filed his first tax return at 13.
Buffett in April 2025 was ranked as the world's fourth-wealthiest person by Bloomberg with a net worth of $154 bn. Despite being one of the richest people in the world, Mr Buffett has lived in the same modest house in Omaha for more than 65 years.
