Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, announced at the 2025 annual meeting that he will step down by year’s end, recommending Greg Abel as his successor. The 94-year-old Buffett, who has led Berkshire since 1, surprised shareholders with the timing, though Abel has long been seen as the heir apparent
Abel, 6, currently oversees Berkshire’s non-insurance operations and has been a key figure in the company for over two decades Buffett reassured shareholders he will remain involved to support Abel and emphasized he won’t sell any of his Berkshire shares after the transition
The board is set to formalize Abel’s appointment soon, marking a historic leadership change for the conglomerate. Berkshire’s stock has surged 19% this year, and the company’s cash reserves have reached a record $347 billion, leaving Abel with both strong momentum and high expectations as he steps into Buffett’s iconic role
