Billionaire investor Warren Buffett, aged 94, will step down as CEO of Berkshire Hathaway at the end of 2025, he announced Saturday during the company's annual shareholders’ meeting in Omaha.
Speaking at the tail end of the gathering, Buffett made it clear that the board would soon formalise the transition. “Tomorrow, we’re having a board meeting of Berkshire, and we have 11 directors. Two of the directors, who are my children, Howie and Susie, know of what I’m going to talk about there. The rest of them, this will come as news to, but I think the time has arrived where Greg should become the chief executive officer of the company at year end,” said Buffett.
His decision, though not wholly unexpected, stunned many of the thousands present. Buffett had previously named Greg Abel as his successor in 2021. Yet the timing of the announcement took many by surprise.
A record-breaking net worth in a volatile year
Buffett’s departure comes at a time when his financial acumen continues to outpace his peers. According to the Bloomberg Billionaires Index, his net worth now stands at $169 billion. Forbes offers a close estimate of $168.2 billion as of May 3, 2025. This marks an increase of $16.4 billion this year alone — the largest gain among the world’s top ten billionaires.
His ability to grow wealth while others faltered stands out. Elon Musk’s fortune dropped by $135 billion, Jeff Bezos lost $42.6 billion, and Mark Zuckerberg saw a decline of $24.5 billion. Buffett, meanwhile, charted a cautious course: selling stakes in tech and banking at strong prices, stockpiling cash, and favouring high-yield U.S. Treasuries. The result? A growing war chest and a thriving portfolio.
Also Read: Meet Greg Abel, the man who will lead Berkshire Hathaway after Warren Buffett
A lifetime of investment discipline
Buffett’s strategy has long been defined by patience and prudence. His February letter to shareholders summed up his position: “Nothing looks compelling.” By the end of 2024, Berkshire had accumulated $334 billion in cash. Analysts saw this not as hesitation but foresight — a possible buffer against economic uncertainty.
This disciplined approach underpins Buffett’s investment philosophy. “People who get too upset with price fluctuations … shouldn’t own a stock at all,” he told CNBC back in 2018. And in a 2008 New York Times op-ed, he wrote, “Be fearful when others are greedy, and be greedy when others are fearful.”
His belief in long-term thinking has remained consistent. “Our horizon for such commitments is almost always far longer than a single year. In many, our thinking involves decades,” Buffett reiterated earlier this year.
Also Read: Warren Buffett to retire by the end of the year, recommends Greg Abel as Berkshire CEO
Managing a $267 billion portfolio
As of late 2024, Buffett managed a $267 billion stock portfolio. His holdings span some of the largest and most recognisable global companies. Among them:
He doesn’t cling to investments forever. Instead, he adjusts to risk. This year’s performance proves that adaptability still matters.
Modest lifestyle, monumental wealth
Despite his immense fortune, Buffett leads a notably modest life. He still lives in the Omaha house he bought in 1958 for $31,500. Now valued at about $1.4 million, it’s a far cry from the multi-million-dollar mansions of his billionaire peers. He also owns a holiday home in Laguna Beach, California.
Buffett has committed to giving away most of his wealth, chiefly to the Bill & Melinda Gates Foundation. His philanthropic outlook has become as notable as his investing.
Buffett’s resignation marks the close of a 54-year tenure leading Berkshire Hathaway. From a young boy inspired by a book called One Thousand Ways to Make $1000 to the head of one of the world’s largest conglomerates, Buffett's story has captivated investors for decades.
His legacy now passes to Greg Abel. With the company’s fundamentals intact and its strategy firmly in place, Berkshire Hathaway enters a new chapter — still shaped by Buffett’s enduring philosophy.
Speaking at the tail end of the gathering, Buffett made it clear that the board would soon formalise the transition. “Tomorrow, we’re having a board meeting of Berkshire, and we have 11 directors. Two of the directors, who are my children, Howie and Susie, know of what I’m going to talk about there. The rest of them, this will come as news to, but I think the time has arrived where Greg should become the chief executive officer of the company at year end,” said Buffett.
His decision, though not wholly unexpected, stunned many of the thousands present. Buffett had previously named Greg Abel as his successor in 2021. Yet the timing of the announcement took many by surprise.
A record-breaking net worth in a volatile year
Buffett’s departure comes at a time when his financial acumen continues to outpace his peers. According to the Bloomberg Billionaires Index, his net worth now stands at $169 billion. Forbes offers a close estimate of $168.2 billion as of May 3, 2025. This marks an increase of $16.4 billion this year alone — the largest gain among the world’s top ten billionaires.
His ability to grow wealth while others faltered stands out. Elon Musk’s fortune dropped by $135 billion, Jeff Bezos lost $42.6 billion, and Mark Zuckerberg saw a decline of $24.5 billion. Buffett, meanwhile, charted a cautious course: selling stakes in tech and banking at strong prices, stockpiling cash, and favouring high-yield U.S. Treasuries. The result? A growing war chest and a thriving portfolio.
Also Read: Meet Greg Abel, the man who will lead Berkshire Hathaway after Warren Buffett
A lifetime of investment discipline
Buffett’s strategy has long been defined by patience and prudence. His February letter to shareholders summed up his position: “Nothing looks compelling.” By the end of 2024, Berkshire had accumulated $334 billion in cash. Analysts saw this not as hesitation but foresight — a possible buffer against economic uncertainty.
This disciplined approach underpins Buffett’s investment philosophy. “People who get too upset with price fluctuations … shouldn’t own a stock at all,” he told CNBC back in 2018. And in a 2008 New York Times op-ed, he wrote, “Be fearful when others are greedy, and be greedy when others are fearful.”
His belief in long-term thinking has remained consistent. “Our horizon for such commitments is almost always far longer than a single year. In many, our thinking involves decades,” Buffett reiterated earlier this year.
Also Read: Warren Buffett to retire by the end of the year, recommends Greg Abel as Berkshire CEO
Managing a $267 billion portfolio
As of late 2024, Buffett managed a $267 billion stock portfolio. His holdings span some of the largest and most recognisable global companies. Among them:
- Apple
- American Express
- Bank of America
- Coca-Cola
- Chevron
- Occidental Petroleum
- Amazon
- Japanese trading houses including Itochu, Marubeni, Mitsubishi, Mitsui, Sumitomo
- Domino’s Pizza
- Constellation Brands
- DaVita
- Sirius XM
- VeriSign
He doesn’t cling to investments forever. Instead, he adjusts to risk. This year’s performance proves that adaptability still matters.
Modest lifestyle, monumental wealth
Despite his immense fortune, Buffett leads a notably modest life. He still lives in the Omaha house he bought in 1958 for $31,500. Now valued at about $1.4 million, it’s a far cry from the multi-million-dollar mansions of his billionaire peers. He also owns a holiday home in Laguna Beach, California.
Buffett has committed to giving away most of his wealth, chiefly to the Bill & Melinda Gates Foundation. His philanthropic outlook has become as notable as his investing.
Buffett’s resignation marks the close of a 54-year tenure leading Berkshire Hathaway. From a young boy inspired by a book called One Thousand Ways to Make $1000 to the head of one of the world’s largest conglomerates, Buffett's story has captivated investors for decades.
His legacy now passes to Greg Abel. With the company’s fundamentals intact and its strategy firmly in place, Berkshire Hathaway enters a new chapter — still shaped by Buffett’s enduring philosophy.
You may also like
NEET aspirant dies by suicide in Kota; 14th case since January 2025
Beyonce has a sweet family moment on stage during her tour
The 'charismatic' cardinal Donald Trump wants as Pope - but key detail may prevent it
Ajit Pawar welcomes former minister Gulabrao Deokar's induction to NCP
Russian economy meltdown as gas and electricity bills soar 40% and mortgage rates rocket
