Warren Buffett Steps Down As Berkshire Hathaway CEO; Greg Abel To Take Charge
Buffet still intends to come into the office after the transition.
Warren Buffett has stepped down as CEO of Berkshire Hathaway. Buffett, 95, served as chief executive of the multinational conglomerate for decades before his final day in the role on Wednesday, Dec. 31.
In May 2025 — seven months before relinquishing the position — Buffett told The Wall Street Journal that he still intended to come into the office after the transition.
“I’m not going to sit at home and watch soap operas,” he said. “My interests are still the same.”
In a farewell letter published last month, Buffett, famously known as the “Oracle of Omaha,” described Berkshire’s individual shareholders as “a very special group who are unusually generous in sharing their gains with others less fortunate.”
He also shared “a few business and personal observations,” including the reminder that “the cleaning lady is as much a human being as the Chairman.”
“Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government,” Buffett wrote. “When you help someone in any of thousands of ways, you help the world.”
He added, “Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior.”
Buffett began investing in 1942 at age 11, buying $114.75 worth of shares in the natural gas company Cities Service with savings he had started putting aside at age 6, according to NBC News.
He has used Berkshire Hathaway as his primary investment vehicle since 1964 and became CEO in 1970.
Buffett is currently the world’s 10th richest person, with an estimated net worth of $150 billion, according to Bloomberg.
Greg Abel, 63, will succeed Buffett as CEO, while Buffett will remain chairman, NBC News reported.
Buffett named Abel as his eventual successor in May 2021, per CNBC.
Writing about Abel in his Nov. 10 letter, Buffett said, “Greg Abel will become the boss at yearend. He is a great manager, a tireless worker and an honest communicator. Wish him an extended tenure.”
