Warren Buffett is set to step down as CEO of Berkshire Hathaway at the end of 2025, marking the end of his legendary six-decade tenure. Vice Chairman Greg Abel will take over leadership, with Buffett remaining as chairman.
The announcement led to a sharp decline in Berkshire Hathaway shares, with Class B shares falling over 5%, erasing billions in market value. Investors remain uncertain about how the conglomerate’s diverse holdings will perform without Buffett’s direct oversight.
Buffett built Berkshire Hathaway into a financial powerhouse, earning him the title “Oracle of Omaha.” Abel has overseen key operations since 2018, and analysts expect him to follow Buffett’s investment philosophy, focusing on capital allocation and strategic growth. With Berkshire’s substantial cash reserves and investment strategy in the spotlight, Abel’s leadership will be closely watched as the company navigates this transition.