Warren Buffett Announces Retirement After 60-Year Tenure, Receives Standing Ovation from 40,000 Shareholders

Warren Buffett, the legendary investor and longtime CEO of Berkshire Hathaway, announced his retirement at the 2025 annual shareholders meeting in Omaha, receiving a lengthy standing ovation from over 40,000 attendees. Buffett, 94, revealed that Greg Abel will succeed him as CEO by the end of the year, a decision known only to his two children prior to the announcement. The news marks the end of Buffett’s six-decade leadership, during which he transformed Berkshire into a $1.2 trillion conglomerate and nearly doubled the S&P 500’s returns. Prominent business leaders, including Bill Gates, Apple’s Tim Cook, and JPMorgan’s Jamie Dimon, praised Buffett’s wisdom, integrity, and lasting impact on business and philanthropy. The meeting underscored Buffett's unique role as the 'Oracle of Omaha' and the deep respect he commands across the financial and corporate worlds. Abel, previously responsible for Berkshire’s noninsurance businesses, will now assume full leadership as Buffett remains chairman.