Warren Buffett announces retirement as Berkshire Hathaway CEO

The 'Oracle of Omaha' has also announced Vice Chairman Greg Abel as his successor

by e4m Staff
Published: May 5, 2025 4:05 PM | 2 min read

One of the world’s most successful investors, Warren Buffett has announced his retirement as CEO of Berkshire Hathaway at the end of the year.

In so doing, he has also announced a handover to Vice Chairman Greg Abel. "I think the time has arrived where Greg should become the chief executive of the company at year end," said Buffett is quoted to have said.

He told an audience of 40,000 people about his decision on Sunday and announced that he won’t be selling a single share of Berkshire Hathaway.

Born in 1930 in Omaha, Nebraska, he’s often called the "Oracle of Omaha" for his financial wisdom. Despite being one of the richest people in the world, he’s also known for his frugality, simple lifestyle, and commitment to philanthropy—he’s pledged to give away most of his wealth through the Giving Pledge, a campaign he co-founded with Bill and Melinda Gates.

Berkshire Hathaway is a massive holding company led by Buffett, known for owning a wide range of businesses outright—like GEICO, BNSF Railway, and Dairy Queen—while also holding large stock positions in companies like Apple, Bank of America, and Coca-Cola.

Back in January, Buffett named his middle child Howard, aka Howief Buffett, as the successor of Berkshire Hathway.

As per reports, Howie will be the Non-Executive Chairman of Berkshire Hathway.

Buffett, who is 94, has said in an interview to the Wall Street Journal that his remaining wealth will be handled by a new charitable trust.

The trust will be run by Buffett's children - Susie, Howie and Peter Buffett.