Warren Buffett to Retire as Berkshire Hathaway CEO by Year-End

Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, announced he will retire at the end of 2025, ending a historic six-decade tenure during which he transformed Berkshire into a massive conglomerate. Greg Abel, the current vice-chair, will succeed Buffett as CEO, a move that had long been anticipated but was nonetheless unexpected in its timing. Buffett emphasized he has no plans to sell any of his Berkshire shares and believes the company will thrive under Abel’s leadership. The announcement, made at Berkshire’s annual meeting, was met with a standing ovation from shareholders, reflecting Buffett’s enormous influence. His departure prompted immediate volatility in financial markets, including a brief drop in major cryptocurrencies like Bitcoin and Ethereum, as investors reassessed risk amid uncertainty. Buffett also reiterated his commitment to philanthropy, planning to donate the vast majority of his wealth to charity after his death.