Legendary investor Warren Buffett, the fifth richest person on earth with a fortune worth $162 billion, announced Saturday he will retire as CEO of Berkshire Hathaway later this year.
Buffett, 94, told his annual shareholder meeting, dubbed the Woodstock for Capitalists, that he would ask the board to hand over the reins to his hand-picked successor Greg Abel, 62.
The ‘Oracle of Omaha’ appeared to suggest Abel had been kept in the dark about the timing of his retirement plans until the final minutes of the marathon Q&A session.
The death of his longtime friend and business partner Charlie Munger two years ago had led to increasing speculation about when Buffett might finally call it a day as CEO.
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Warren Buffett to step down from Berkshire Hathaway after decades at the helm of one of America’s most successful firms
- by: James Franey
- 2025-05-03
- Source:
NY Post
- 05/05/2025
