Warren Buffett, the man who never moved out of his modest Omaha home, yet became the fifth richest person on Earth, knew something had shifted when he turned 94. After nearly 55 years at the helm, the “Oracle of Omaha” finally decided to let go of the wheel, but not the map.
Buffett, the man whose investment instincts seemed ageless, finally acknowledged his time as the CEO of Berkshire Hathaway was up.
Also Read: 5 tips from Warren Buffett you can apply to earn solid returns
“There was no magic moment,” he told The Wall Street Journal. “How do you know the day that you become old?” But after noticing he was forgetting names, wobbling more, and watching his younger successor Greg Abel “accomplish in a 10-hour day” what he no longer could, Buffett knew it was time.
Buffett said the realization became “irreversible.”
The move was announced unexpectedly at the company’s annual meeting on May 3, 2025, and even took Abel by surprise.
Yet Buffett isn’t walking away entirely, he will remain chairman of Berkshire’s board and continue working from its Omaha office. “I’m not going to sit at home and watch soap operas,” he quipped. “My interests are still the same.”
He’s still in the office. And in a world that still watches every word he says, Warren Buffett isn’t gone. Not even close.
Who is Buffett’s successor, Greg Abel?
Also Read: It's not just Japan and China, Warren Buffett's Berkshire Hathaway also owns a major chunk of U.S. Treasuries
Greg Abel, a Canadian-born executive, joined Berkshire in 1999 through its acquisition of MidAmerican Energy Holdings Company. He rose through the ranks to become CEO of Berkshire Hathaway Energy and was appointed vice chairman in 2018. Buffett has long praised Abel's capabilities, stating, "Really great talent is rare. It's rare in business. It's rare in capital allocation. It's rare in almost every human activity you can name."
Buffett will remain as chairman of Berkshire's board, despite stepping down as the CEO and plans to continue working from the company's Omaha, Nebraska office. He emphasized that his investment acumen remains sharp and that he intends to be "useful" during times of market volatility, saying, "I'm not going to sit at home and watch soap operas. My interests are still the same."
What is Berkshire Hathaway?
Berkshire Hathaway is a massive American conglomerate based in Omaha, Nebraska, best known for its long-time leader, Warren Buffett.
Berkshire Hathaway ranks 5th on the Fortune 500 list of the largest U.S. companies by total revenue and 9th on the Fortune Global 500. It is also one of the top ten components of the S&P 500 and one of the largest employers in the United States. Its Class A shares hold the highest price per share of any publicly traded company in the world, surpassing $700,000 in August 2024
Buffett transformed it into one of the world’s most powerful holding companies after taking control in 1965. Today, Berkshire owns a wide range of businesses, including GEICO, BNSF Railway, and Dairy Queen, and holds major investments in companies like Apple, Coca-Cola, and American Express. With nearly 400,000 employees and a market value of over $1 trillion, it has become a symbol of long-term, value-driven investing.
The transition is set to take effect on January 1, 2026, with Abel officially stepping in as the CEO. The move has been met with a mix of surprise and support from shareholders and industry peers.
Apple CEO Tim Cook expressed his admiration, stating, "There's never been someone like Warren, and countless people, myself included, have been inspired by his wisdom."
Buffett, the man whose investment instincts seemed ageless, finally acknowledged his time as the CEO of Berkshire Hathaway was up.
Also Read: 5 tips from Warren Buffett you can apply to earn solid returns
“There was no magic moment,” he told The Wall Street Journal. “How do you know the day that you become old?” But after noticing he was forgetting names, wobbling more, and watching his younger successor Greg Abel “accomplish in a 10-hour day” what he no longer could, Buffett knew it was time.
Buffett said the realization became “irreversible.”
The move was announced unexpectedly at the company’s annual meeting on May 3, 2025, and even took Abel by surprise.
Yet Buffett isn’t walking away entirely, he will remain chairman of Berkshire’s board and continue working from its Omaha office. “I’m not going to sit at home and watch soap operas,” he quipped. “My interests are still the same.”
He’s still in the office. And in a world that still watches every word he says, Warren Buffett isn’t gone. Not even close.
Who is Buffett’s successor, Greg Abel?
Also Read: It's not just Japan and China, Warren Buffett's Berkshire Hathaway also owns a major chunk of U.S. Treasuries
Greg Abel, a Canadian-born executive, joined Berkshire in 1999 through its acquisition of MidAmerican Energy Holdings Company. He rose through the ranks to become CEO of Berkshire Hathaway Energy and was appointed vice chairman in 2018. Buffett has long praised Abel's capabilities, stating, "Really great talent is rare. It's rare in business. It's rare in capital allocation. It's rare in almost every human activity you can name."
Buffett will remain as chairman of Berkshire's board, despite stepping down as the CEO and plans to continue working from the company's Omaha, Nebraska office. He emphasized that his investment acumen remains sharp and that he intends to be "useful" during times of market volatility, saying, "I'm not going to sit at home and watch soap operas. My interests are still the same."
What is Berkshire Hathaway?
Berkshire Hathaway is a massive American conglomerate based in Omaha, Nebraska, best known for its long-time leader, Warren Buffett.
Berkshire Hathaway ranks 5th on the Fortune 500 list of the largest U.S. companies by total revenue and 9th on the Fortune Global 500. It is also one of the top ten components of the S&P 500 and one of the largest employers in the United States. Its Class A shares hold the highest price per share of any publicly traded company in the world, surpassing $700,000 in August 2024
Buffett transformed it into one of the world’s most powerful holding companies after taking control in 1965. Today, Berkshire owns a wide range of businesses, including GEICO, BNSF Railway, and Dairy Queen, and holds major investments in companies like Apple, Coca-Cola, and American Express. With nearly 400,000 employees and a market value of over $1 trillion, it has become a symbol of long-term, value-driven investing.
The transition is set to take effect on January 1, 2026, with Abel officially stepping in as the CEO. The move has been met with a mix of surprise and support from shareholders and industry peers.
Apple CEO Tim Cook expressed his admiration, stating, "There's never been someone like Warren, and countless people, myself included, have been inspired by his wisdom."
