Warren Buffett to Step Down as Berkshire Hathaway CEO by End of 2025

He led the company for about 60 years.

• At the annual shareholders meeting, Buffett announced that his successor will be Berkshire Hathaway Vice Chairman Greg Abel, writes Bloomberg.
• Buffett spoke about plans to make Abel the next CEO back in 2021. Abel will lead the company after approval from the board of directors, whose meeting will take place on May 4, 2025 — in Buffett's opinion, they will unanimously support his decision.

• Buffett noted that he will still 'be around' to help, but the final say will be Abel's. At the board meeting, they will also discuss what role Buffett will take in the company in 2026.
• In the Bloomberg Billionaires Index, Buffett ranks fifth, with his fortune estimated at $169 billion — the majority consists of Berkshire Hathaway shares. He does not plan to sell them.

• Buffett bought Berkshire Hathaway in 1965 — at that time, it was a bankrupt textile mill. Based on the company, he created a holding company involved in investments and insurance business. Berkshire's portfolio includes shares of companies like American Express, Bank of America, Apple, Chevron, Coca-Cola, and many others.

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