Billionaire Warren Buffett announces the culmination of his illustrious career: after sixty years of leading Berkshire Hathaway, he will step down from his position as CEO, a company that has become a true legend in the world of finance and investment
He shared his intentions on May 3 during the company's annual shareholders' meeting held in Omaha — his hometown and the headquarters of Berkshire Hathaway. At age 94, the dictator of the American business universe and one of the world's biggest investors signals that a new chapter has begun in his career: “I am stepping down as CEO, but I remain part of the company and perhaps will be useful in several areas,” he stated. At the same time, the decision to transfer leadership has been definitively made, and the “final word” belongs to the new leader — Vice Chairman Greg Abel, who controls the majority of Berkshire Hathaway’s investment assets. This is a historic event not only for the entire financial industry but also for the American business world as a whole. According to analysts and Reuters sources, Buffett, who turned this company into one of the largest and most successful conglomerates with a capital of over $1.16 trillion, is concluding a legendary era that has lasted over six decades. Throughout all these years, his leadership transformed Berkshire Hathaway — once an unsuccessful textile company — into a powerful investment giant in finance, insurance, manufacturing, and many other sectors. Buffett himself, in his speeches, does not hide that his primary goal was not only to preserve the company but also to continuously improve its strategies and expand its investment portfolio. According to Forbes, the billionaire’s wealth remains impressive — around $168.2 billion — with nearly all of these assets concentrated in his shares of Berkshire Hathaway. Buffett firmly states that he has no intention of selling his stakes and plans to donate them actively after his death. This reflects his philosophy — to leave the company in reliable hands and ensure the most efficient transfer of assets accumulated through years of diligent work. Equally important is Berkshire Hathaway’s role in the global economy. The holding company controls more than forty different enterprises operating in financial services, food industry, media business, jewelry, furniture manufacturing, carpets, construction materials, and more. Experts say that Buffett’s current decision opens a new chapter not only for the company’s management but also for the entire investment world, as it involves not only the transfer of assets but also the values of governance and long-term strategy that he has managed throughout these years. Thus, Warren Buffett’s historic role in American and global business will be fulfilled not only through his activities but also through the legacy he leaves in the form of traditions, values, and experience for a new generation of investors and leaders. By remaining involved in the company and supporting the new leadership, he is laying a solid foundation for Berkshire Hathaway’s continued success in the future, as this corporate giant has become a true life project for him and a part of the history of American business evolution.