Buffett to step down as Berkshire CEO after 60 years at helm

4/5/2025 17:43

Warren Buffett is ending his career as perhaps the world's most famous and revered investor, saying he will step down as chief executive of Berkshire Hathaway at the end of 2025, and hand over the reins to Vice Chairman Greg Abel.



The move caps an era for Berkshire after Buffett's extraordinary 60 years at the helm, which made him a household name, a multi-billionaire and an American success story.



"I think the time has arrived where Greg should become the chief executive officer of the company at year end," Buffett, 94, said on Saturday as he wrapped up Berkshire's annual meeting in Omaha, adding he would still "hang around and conceivably be useful in a few cases" but that the "final word" would be Abel's.



Buffett's move will propel Abel into the spotlight at Berkshire. Abel, who has long been identified by Berkshire to be Buffett's successor, may not have the star power of Buffett although he is expected to preserve the culture of the conglomerate.