Warren Buffett Prepares to Hand Over Berkshire Reins After Six Decades
Warren Buffett, the legendary figure behind Berkshire Hathaway’s rise, has officially announced plans to step away from his CEO role by the end of 2025.
Speaking to a packed arena at the company’s annual gathering in Omaha, the 93-year-old investor confirmed that Greg Abel is next in line to take the helm.
Buffett’s decision marks the end of an era. After guiding Berkshire for over 60 years, he assured shareholders that his departure wouldn’t mean disconnecting entirely — he plans to remain closely involved, though without final decision-making power. Notably, Buffett emphasized that he has no intention of selling any of his shares, saying his faith in Abel’s leadership is rooted in economic rationale, not sentiment.
The company’s board is now preparing to meet and define Buffett’s future responsibilities, if any, as well as Abel’s official title. Whether Abel assumes both chairman and CEO duties or only one remains to be seen.
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The event wasn’t only about leadership changes. Addressing a wide range of topics, Buffett expressed concern over current U.S. trade policy, particularly the use of tariffs under President Donald Trump. He cautioned that weaponizing trade could destabilize global relationships, arguing that mutual prosperity through free trade is a better path to peace and long-term growth.
Meanwhile, Berkshire Hathaway is sitting on an enormous war chest — nearly $348 billion in cash. Buffett explained that, while attractive investments are scarce at the moment, having capital on hand will be invaluable when the right opportunities arise.
He also reflected on the United States’ economic resilience and enduring potential, saying if he had the choice of where to be born today, he’d wait for the chance to land in America.
Despite the upcoming transition, shareholders showed confidence in Abel. Many believe his management style — more hands-on, but respectful of Berkshire’s decentralized model — will serve the company well. Longtime investor Steven Check noted that most of the businesses under the Berkshire umbrella already operate independently, and Abel is unlikely to disrupt that autonomy.
Kosta Gushterov
Reporter at Coindoo
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