The Latest Breaking News from Berkshire Hathaway

Billionaire investor Warren Buffett says he wants to step down as chief executive of Berkshire Hathaway at the end of the year

‘Oracle of Omaha’ stuns shareholders, but says he will maintain investments in group and will still be ‘hanging around’.

When Warren Buffett announced at his annual shareholder meeting that he is stepping down as CEO of Berkshire Hathaway at the end of the year, he elevated a 62-year-old Canadian executive named Greg Abel who has long been one of his top lieutenants

Admired for his investing prowess and a taste for the simple things in life rather than luxury, billionaire Warren Buffett has won public affection even as he amassed a fortune for the ages -- riches that the "Oracle of Omaha" has pledged to give away.

Billionaire shocked audience of investors with disclosure and said his vice-chair, Greg Abel, should take over

The 94-year-old made the announcement at the company’s 2025 investor conference on Saturday

Billionaire investor Buffett – who will turn 95 in August – announced Abel as the man to take over his investing juggernaut back in May 2021

"I think they'll be unanimously in favor of it, and that would mean that at year-end Greg would be the chief executive officer of Berkshire and I would still hang around."

“You’re going to have your life progress in the general direction of the people that you work with, that you admire, that become your friends.”

“It’s gimmicky, but it’s certainly a lot better than anything I think we’re talking about now,” Buffett said of his idea.

Buffett defended Berkshire's stance on keeping its powder dry, telling shareholders that "we have made a lot of money by not wanting to be fully invested at all times."