Warren Buffett announces his plans for retirement from Berkshire Hathaway
- finminati
- May 16
- 2 min read
Updated: Jun 12
16 May 2025, Friday
On 3rd May 2025, Warren Buffett, the most influential investor in the world, shocked thousands of shareholders by announcing his plans to step down as CEO of Berkshire Hathaway by 2025 end.
The 94-year-old Mr. Buffett’s CEO position would be passed on to current Vice Chairman Greg Abel, his designated successor for years.
When he made the announcement, it was a shock to everyone (except his 2 children), including Greg Abel.
Reason behind the decision
Mr. Buffett cited his physical health as the reason for this decision. He mentioned several heartbreaking moments, such as losing balance, forgetting names and difficulty in reading newspapers.
He also mentioned that he and his successor Mr. Abel, were operating at different speeds, with his own pace slowing due to age.
His future plans
Despite these challenges, Mr. Buffet remains mentally sharp and plans to continue investing actively, as it is his main interest.
"I don't have any trouble making decisions about something that I was making decisions on 20 years ago, or 40 years ago or 60 years ago. I will be useful here if there's a panic in the market because I don't get fearful when things go down in price or everybody else gets scared. … And that really isn't a function of age," he told the Journal.
Mr. Buffet, the Legend
After his retirement announcement, Mr. Buffett received a prolonged standing ovation from thousands of investors present at the Omaha arena, in recognition of his 60 years leading the company.
Over the past 60 years, the company nearly doubled the returns of the S&P 500, achieving a 19.9% compounded annual growth rate compared to the index’s 10.4% gain.
He helped make Berkshire Hathaway the 1st non-tech company to cross $1 trillion market capitalisation.
Today, his conglomerate owns dozens of businesses, from Duracell batteries to US insurer Geico, and shares in companies like Coca-Cola and Bank of America.
Sources / References
Image: Insurance Insider, Link, ESG News
DISCLAIMER
The content is for informational and news reporting purposes only, and readers should not rely on it for professional advice or take it as a definitive source of truth. This news is solely for educational purposes.
The securities / investments quoted here are not recommendatory. It is not to be used or considered as financial or investment advice, a recommendation, an offer to sell, or a solicitation to buy any securities or other financial assets. Any similarity / overlap between the securities, stocks, or assets mentioned in the blog post / website / social media handles and those personally owned is purely coincidental, meaning it is not intentional or planned.
This post might contain links to external websites that are not provided or maintained by or in any way affiliated with the website / blog.
Comments