Warren Buffett, renowned investor and CEO of Berkshire Hathaway, has announced his decision to step down from his role at the company at the end of 2025. This major transition marks the end of an era for Berkshire Hathaway, which Buffett has led for over six decades. During the recent annual meeting held in Omaha, Nebraska, Buffett revealed that he would be handing over the reins to Greg Abel, the company’s Vice Chairman, whom he has groomed for this role over the past several years.
Buffett, who is now 94 years old, expressed that the time has come for Abel to take over as CEO. He stated, “I think the time has arrived where Greg should become the chief executive of the company at year end”. This announcement was met with applause from the audience of approximately 40,000 shareholders, highlighting the respect and admiration Buffett commands within the investment community. Interestingly, Abel was reportedly unaware of the announcement prior to it being made, which underscores the surprise element of Buffett’s declaration.
Transformative leadership
Buffett’s tenure at Berkshire Hathaway has been nothing short of transformative. He took the company from a struggling textile manufacturer to a colossal investment conglomerate valued at approximately $1.16 trillion. His investment philosophy, characterized by value investing and a long-term perspective, has made him one of the most successful investors in history. Despite his immense wealth, Buffett is known for his modest lifestyle, having lived in the same house in Omaha for over 65 years.
In his remarks during the meeting, Buffett emphasized that he has no intention of selling any of his Berkshire shares. He stated, “I have no intention, zero, of selling one share of Berkshire Hathaway. It will get given away”. This commitment to his company and its future reflects his deep-seated belief in the strength of Berkshire Hathaway’s business model and its management team.
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A planned succession
The transition to Greg Abel as CEO has been anticipated for some time. Buffett had previously indicated that he was preparing for this moment, acknowledging in a letter last year that while he did not wish to retire, he was “playing in extra innings”. Abel has been with Berkshire Hathaway for many years and currently oversees all of the company’s non-insurance businesses. His appointment as CEO is seen as a continuation of Buffett’s legacy, as Abel shares similar values and management philosophies.
Buffett’s announcement also came amid discussions about broader economic issues, including his criticism of President Trump’s tariffs. He cautioned against using trade as a weapon, arguing that it could alienate global partners and harm the U.S. economy. “It’s a big mistake in my view when you have 7.5 billion people who don’t like you very well, and you have 300 million who are crowing about how they have done,” he remarked during the meeting. This perspective reflects Buffett’s long-standing belief in the importance of international trade and cooperation.
As Buffett prepares to step down, the future of Berkshire Hathaway remains a topic of great interest. The company owns a diverse portfolio of more than 60 subsidiaries, including well-known brands like Geico, Duracell, and Dairy Queen, as well as significant stakes in major corporations such as Apple and Coca-Cola. The transition to Abel is expected to be smooth, given the extensive planning and preparation that has taken place over the years.

Berkshire’s future with Abel
Greg Abel is set to succeed Warren Buffett as the CEO of Berkshire Hathaway, a transition that marks a significant moment in the company’s history. Buffett, who has led the conglomerate for over six decades, announced that Abel would take over at the end of 2025, a decision that has been anticipated for several years.
Abel, born in Alberta, Canada, has been with Berkshire Hathaway since 2000, when the company acquired MidAmerican Energy, where he was an executive. He later became the CEO of MidAmerican, which was rebranded as Berkshire Hathaway Energy. Under his leadership, the company grew to become the largest producer of wind energy in the United States. Abel has served as Vice Chairman of non-insurance operations since 2018, overseeing various sectors including utilities, railroads, and retail.
Known for his hands-on management approach, Abel is regarded as a capable leader who has earned the respect of Berkshire’s managers and shareholders alike. Buffett has praised Abel’s business acumen and has expressed confidence in his ability to lead the company into the future. Abel’s leadership style is expected to maintain the company’s decentralized management structure while potentially introducing a more active oversight of operations compared to Buffett’s more laissez-faire approach.
As Abel prepares to take the helm, he faces the challenge of upholding Buffett’s legacy while navigating the complexities of the modern investment landscape. His extensive experience within Berkshire Hathaway positions him well to continue the company’s tradition of value investing and long-term growth.