Warren Buffett to step down from Berkshire at year's end, Greg Abel to succeed Oracle of Omaha
Source: CNN
In a shock announcement, famed investor Warren Buffett said Saturday at Berkshire Hathaway’s annual shareholder meeting at CHI Health Center in Omaha, Nebraska, that he would step down as CEO at the end of the year.
Greg Abel would take over at the end of the year, pending board approval, and Buffett said he would not sell one share of Berkshire stock. Abel, the vice-chairman of non-insurance operations of Berkshire, was designated as Buffett’s successor in 2021. It is not clear whether Abel would assume the chairman role.
Buffett said only his children knew he would be stepping down.
Read more: https://www.cnn.com/2025/05/03/business/warren-buffett-berkshire-hathaway-meeting

Bernardo de La Paz
(56,052 posts)LetMyPeopleVote
(163,817 posts)Back in 1996 or so, I got to meet Warren Buffett. Berkshire purchased a client and there was a dinner at a client's house for the signing of the merger. I pulled my ex-wife from stroke judging at a swim meet at the neighborhood pool and got her to come. There were a ton of Solomon Brothers people, investment banking types and a number of clients/friends of the firm at this dinner. This was a small deal for Berkshire Hathaway but Buffett likes furniture stores and my client had one of the chains that Buffett wanted to buy.
Buffett is a very nice man. Buffett noticed that my ex-wife had wet hair and went to talk to her. They spent ten or fifteen minutes discussing swim meets while the senior partner of a local accounting firm tried to butt in and was shushed by Buffett.
Buffett is a very nice and smart man.
fujiyamasan
(210 posts)Maybe it was hbo.
He struck me as very humble and pretty down to earth.
LetMyPeopleVote
(163,817 posts)Buffett is very down to earth and humble
TexasBushwhacker
(20,891 posts)He said wealthy people should give their children enough that they feel they can do anything, but not so much that they feel they can do nothing.
Bernardo de La Paz
(56,052 posts)Of course the "can do nothing" varies from person to person. For some, 50 K a year would make them very happy being a beach bum, even if they had been raised in opulence. For others, give them a million a year gratis, and they would be beavering away operating a car dealership, worrying about the next year's country club membership.
Bernardo de La Paz
(56,052 posts)I caught about 90 minutes of him and Greg Abel answering questions and I understand there was about 90 minutes before that. He told anecdotes about his early years and stuff. Then five minutes at the end he dropped the news.
Bernardo de La Paz
(56,052 posts)I did not know this until a few minutes ago.