End of an era: Warren Buffett retires from the Berkshire Hathaway's leadership after a 60 -year -old career
Legendary investor Warren Buffett has announced that he will withdraw from the position of general manager of Bershire Hathaway at the end of 2025. Thus, he will end a career over 60, who has transformed the company into a 1.16 trillion trillion.
Warren Buffet. Photo: x / @amitisinvesting
The succession will be provided by Greg Abel, currently Berkshire vice -president, of which Buffett said he is ready to take over: “I think the time has come when Greg should become the executive director of the company”, said Warren Buffett, 94 years old, at the end of the Berkshire's annual meeting in Omaha, Reuters reports.
His decision has aroused reactions from business leaders and investors. Jamie Dimon, CEO JPMORGAN CHASE, Described on Buffett Right “The symbol of everything that is good in American capitalism.” Tim Cook, CEO Apple, wrote in a post: “There was never someone like Warren, and countless people, including me, were inspired by his wisdom. He was one of the great privileges of my life to know him.”
Buffett said he will remain involved in the company in a advisory role, but “The last word” It will belong to Abel, 62 years old.
During his management, Buffett turned Berkshire from a difficulty textile business into a diversified colossus, with major investments in companies such as Apple, Coca-Cola and American Express. Buffett's wealth, estimated at over $ 168 billion, is largely invested in Berkshire – and will be almost completely donated after his death.
Buffett mentioned in his withdrawal message that he trusts the future of the company: “I think Berkshire's prospects will be better under Greg's leadership than under mine.”
“It's the end of an era,” said Cole Smead, CEO of Smead Capital Management. “It's sad, but that's life.”
Buffett has won the reputation of “Oracol in Omaha” For his success in investments, as well as for his popular wisdom and modest lifestyle. While Berkshire shares increased by 5,502,284% between 1965 and 2024, Buffett never moved from the house he bought for $ 31,500 in 1958.
