End of an era: Warren Buffett steps down as CEO

Warren Buffett has officially stepped down as CEO of Berkshire Hathaway, ending a remarkable 60-year career at the trillion-dollar holding firm.

However, the 95-year-old legendary investor will remain as chairman and continue writing his famous annual shareholder letters.

Nicknamed the “Oracle of Omaha,” Buffett has handed the reins to his handpicked successor, Greg Abel, who joined Berkshire in 2000. He has been effectively managing the company’s non-insurance operations for years.

Abel’s transition marks a definitive shift for the company that grew from a struggling textile mill into a global powerhouse. 

Berkshire currently holds a $350 billion cash reserve, and all eyes are on the new CEO to see how he will manage the funds.

Stakeholders remain cautious
The company’s stock trailed the S&P 500 in 2025 after investors reacted to Buffett’s succession announcement in May.

Under Buffett’s leadership, Berkshire became a beacon of the American economy, with a diverse portfolio that includes Geico, BNSF Railway, Dairy Queen, Apple, and Coca-Cola.