Warren Buffett Announces Retirement, Greg Abel to Succeed as CEO of Berkshire Hathaway
Warren Buffett, 94, will retire at year-end, naming Greg Abel as successor. Buffett emphasizes continued involvement and expresses concern over U.S. trade policies.
Overview
At the Berkshire Hathaway annual meeting, Warren Buffett, 94, announced his retirement at the end of 2025, naming Greg Abel as his successor. Buffett highlighted his ongoing involvement post-retirement and reiterated concerns about U.S. tariffs impacting global trade stability. With $347.7 billion in cash reserves, he remains optimistic about the U.S. economy. The meeting featured a five-hour Q&A where Buffett’s lasting influence on investing was celebrated, alongside Abel's readiness to lead. Investors expressed confidence in Abel, while Buffett pledged to keep his shares in the company, underscoring his belief in its future under Abel's management.
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Greg Abel was selected due to his proven track record managing Berkshire's noninsurance businesses and being Buffett's long-designated successor[1][4][5]. Buffett explicitly stated 'the time has arrived' for Abel to lead[4].
Buffett criticized Trump-era tariffs, warning they risk global instability by antagonizing trade partners and violating his principle that 'trade should not be a weapon'[1][4].
Buffett pledged to keep his fortune invested in Berkshire and made no mention of relinquishing his chairman role, implying continued oversight[4][5].
Abel must prove his investment acumen with Berkshire's $347.7B cash reserves while maintaining Buffett's culture and managing a conglomerate spanning insurance, energy, and railroads[4][5].
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