United States of America

Buffett to Step Down as Berkshire Hathaway CEO by End of 2025

Published MAY 4 2025

Story

Above: Berkshire Hathaway signage at the annual shareholders meeting in Omaha, May 3, 2025. Image credit: Dan Brouillette/Bloomberg via Getty Images

The Facts

On Saturday, Warren Buffett — known as the "Oracle of Omaha" — announced his intention to step down as CEO of Berkshire Hathaway by the end of 2025 at the company's annual shareholder meeting in Omaha, Nebraska.
BBC News
Daily Mail
Buffett has led Berkshire since 1965 and, with his business partner, Charlie Munger, transformed it from a failing textile company into a $1.1 trillion conglomerate with over 60 companies, including Geico, BNSF Railway, and Dairy Queen.
CNN
FOX News
At the event, Buffett declared that he would recommend to the board that Berkshire’s vice chairman, Greg Abel, succeed him as CEO. Buffett will remain chair, however, until his death, when it will be turned over to his son, Howard Buffett.
CNN
FOX News
Abel, a Canadian executive, joined Berkshire in 2000 when it acquired MidAmerican Energy, where he eventually became the CEO in 2008. Since 2021, Abel has been Buffett’s designated successor.
nytimes
CNBC
Buffett also stated that he had “no intention – zero – of selling one share of Berkshire Hathaway,” which he said he would “give away eventually.” Buffett has been offloading his fortune since 2006 as part of a pledge to give 99% of his wealth to philanthropic causes.
The Telegraph
BBC News
New York Post
The Daily Beast
Shortly following the meeting, Buffett and Abel told CNBC that the pair would discuss further on Sunday what Buffett’s formal role will be from next year, with Buffett confident that the board will be "unanimously in favor" of his choice as successor.
CNBC
Daily Mail

Sources Split

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CENTER

RIGHT

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CRIT

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ESTAB

The Spin

Narrative A

Buffett's retirement marks the end of an extraordinary era in American capitalism. His patient, value-oriented investments created unprecedented shareholder value over six decades, turning a failing textile company into one of the world's most valuable businesses. The smooth succession plan demonstrates Buffett's foresight, ensuring Berkshire's unique culture and investment approach will continue under Abel's leadership.

CNN

CNBC

Narrative B

Buffett's departure raises significant questions about Berkshire's future direction and performance. The company already faces declining earnings in a growingly volatile market, and Abel lacks Buffett's iconic status and proven track record in capital allocation decisions. Without Buffett, Berkshire may struggle to find the transformative investments needed to maintain its historical growth rates in an increasingly competitive landscape.