Investing legend Warren Buffett at age of 95 – will step down as CEO
Warren Buffett to Step Down as CEO of Berkshire Hathaway
New York: Legendary investor and billionaire Warren Buffett has officially announced that he will step down as the CEO of Berkshire Hathaway at the end of this year.
The 95 year old, known as the “Oracle of Omaha,” has been leading the conglomerate since 1965, making this announcement a truly historic moment in corporate America.
Buffett revealed that while he will no longer head the company, he does not plan to retire completely. Instead, he will take a quieter role and dedicate more time to philanthropy and personal causes.
Buffett Ending His Annual Letters, But Continue his Thanks giving Message
For decades, Buffett’s annual letters to shareholders have been a masterclass in investment wisdom and business insight. However, in his latest message, he said he would no longer write the company’s annual report letter.
Still, Buffett will continue to release a yearly Thanks giving message a personal note reflecting on gratitude, business, and life lessons.
He explained that his focus will now shift toward giving back to society, pledging to donate his $149 billion Berkshire Hathaway fortune through his family’s charitable foundations.
Greg Abel to Take Over as the New CEO of Berkshire Hathaway
Buffett confirmed that Greg Abel, aged 63, will succeed him as the next CEO of Berkshire Hathaway.
Abel currently serves as Vice Chairman for Non-Insurance Operations and was officially named Buffett’s successor in 2021.
Praising Abel, Buffett wrote,
“He has more than met the high expectations I had for him when I first thought he should be Berkshire’s next CEO.”
The announcement marks a smooth transition, as Abel has been working closely with Buffett for years, ensuring that the company’s culture, discipline, and long-term strategy remain intact.
Buffett’s Health and Work Routine
In his message, Buffett offered a candid health update, saying,
“To my surprise, I generally feel good. Though I move slowly and read with increasing difficulty, I am at the office five days a week where I work with wonderful people.”
Despite his age, Buffett continues to work full-time, showing his unwavering dedication to Berkshire and its employees.
Accelerating Philanthropy and Lifetime Giving
To speed up the process of distributing his wealth, Buffett recently converted 1,800 Berkshire Hathaway shares — worth approximately $1.35 billion — into Class B shares.
He then donated these shares to four family foundations.
Buffett explained that he wants to ensure that his entire estate is donated during his lifetime, rather than waiting for trustees to manage it after his death.
This move aligns with Buffett’s long-held belief in “giving while living”, a philosophy shared by many modern philanthropists.
Berkshire Hathaway’s Strong Performance
Under Buffett’s leadership, Berkshire Hathaway (BRK.B) shares have risen more than 10% this year, pushing the company’s market capitalization above $1 trillion for the first time.
Buffett expressed confidence in the company’s future, stating,
“In aggregate, Berkshire’s businesses have moderately better-than-average prospects, led by a few non-correlated and sizable gems. However, our size takes its toll.”
This acknowledgment reflects Buffett’s realism — even as he celebrates Berkshire’s scale and strength, he recognizes that growth becomes harder for companies of such magnitude.
The Legacy of the Oracle of Omaha
Warren Buffett’s six-decade-long journey at Berkshire Hathaway has made him a symbol of American capitalism and disciplined investing.
Through his humble demeanor, plainspoken wisdom, and extraordinary track record, Buffett inspired millions of investors worldwide.
Known for his optimism about America, he often referred to himself as a “cheerleader for the country and its citizens.”
As he steps away from his CEO duties, Buffett leaves behind a company built on principles of patience, value investing, and integrity — values that will guide Berkshire Hathaway well into the future.
FAQ –
Q1. Who will be the new CEO of Berkshire Hathaway after Warren Buffett?
➡️ Greg Abel, currently Vice Chairman for Non-Insurance Operations, will take over as CEO starting next year.
Q2. What will Warren Buffett do after stepping down?
➡️ Buffett plans to focus on philanthropy, donating his $149 billion Berkshire Hathaway stock holdings through his family foundations. He will also continue writing a Thanksgiving message each year.
