Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, announced during the company’s annual meeting that he will step down as CEO at the end of 2025. Buffett, 94, will hand over leadership to Vice Chairman Greg Abel, who has been with the company since 1992 and was previously designated as his successor in 2021.
Buffett transformed Berkshire from a struggling textile firm into a $1.16 trillion conglomerate, amassing a fortune of $168.2 billion. Known as the “Oracle of Omaha” for his value investing approach, Buffett has committed to donating nearly all his wealth to charity.
Greg Abel, a 62-year-old Canadian executive, has been named Warren Buffett’s successor as CEO of Berkshire Hathaway, set to take over at the end of 2025. Having managed key Berkshire businesses like BNSF railroad, See’s Candies, and Dairy Queen over the past seven years, Abel has been a trusted lieutenant to Buffett.
Abel is expected to preserve the company’s long-standing culture, including maintaining its strategy of making long-term investments and avoiding dividend payouts. He now oversees non-insurance operations like BNSF and Berkshire Hathaway Energy, and has recently taken on some of Buffett’s prior responsibilities, including capital allocation and oversight of the stock portfolio.
