Warren Buffett to Step Down as CEO, Retains Significant Berkshire Stake

Warren Buffett confirmed on Monday that he will step down as Chief Executive Officer of Berkshire Hathaway at the end of this year. Despite his impending departure, the 95-year-old billionaire plans to retain a “significant amount” of shares in the conglomerate for the time being. This decision underscores his commitment to ensuring a smooth transition to his successor, Greg Abel, who is set to take over the role in January 2026.

In his annual Thanksgiving letter to shareholders, Buffett expressed confidence that Berkshire investors will soon become comfortable with Abel. “That level of confidence shouldn’t take long,” he noted, adding that both his children and the company’s board of directors are fully supportive of Abel’s leadership. Currently, Buffett holds approximately 30 percent of the total voting shares in Berkshire Hathaway, with the company’s “A” shares offering 10,000 times the voting power of “B” shares.

Buffett’s announcement in May regarding his planned resignation was met with disappointment from many investors. Known as the “Oracle of Omaha,” Buffett has long been admired for his straightforward investment strategies that focus on long-term growth rather than quick profits. His ability to articulate complex financial concepts in simple language has made him a beloved figure in the investment community.

While Buffett remains generally optimistic about his health, he acknowledged some challenges in his recent letter. “I move slowly and read with increasing difficulty,” he wrote, reflecting on the changes that come with aging. He also indicated that he would cease writing Berkshire’s annual report but would continue to provide an annual Thanksgiving message to shareholders.

With a diverse workforce of 2,400 employees from over 100 nationalities, Berkshire Hathaway continues to thrive under Buffett’s guidance. As he prepares to hand the reins to Abel, many investors are eager to see how the company will evolve under new leadership while maintaining the principles that have defined its success.