Legendary Berkshire Hathaway CEO Warren Buffett is ready to hang up his hat and announced on Saturday that he intends to step down and name billionaire investor and Vice Chairman Greg Abel as his replacement.
“I think the time has arrived where Greg should become the chief executive of the company at year end,” Buffett said at Berkshire’s annual shareholders meeting in Omaha, Nebraska.
Abel, 62, has been vice chair since 2018.
Buffett has reached the ripe old age of 94, and sees now as the time to pass on his legacy.
Warren Buffett just got a 10 minute long standing ovation after announcing his retirement.
Curtain call for the captain.
🥹
— Spencer Hakimian (@SpencerHakimian) May 3, 2025
Buffett said that he was not going to just disappear, though; he would still lurk in the background:
Abel joined the former MidAmerican Energy,…
