Warren Buffett formally announced his retirement from his role as the CEO of Berkshire Hathaway in May 2025, marking a significant milestone in his illustrious career that has spanned over six decades. Following his departure, Buffett will remain actively involved with the company as its chairman, continuing to influence its strategic direction. His long-standing tenure with Berkshire Hathaway has positioned him as one of the wealthiest individuals globally, with his net worth ranking as the fifth highest on the planet according to Forbes. This transition signifies not just a personal decision, but a pivotal moment in the corporate landscape.
In May 2025, Buffett convened with shareholders of Berkshire Hathaway to share the momentous decision regarding his retirement. This gathering was not just a routine meeting; it was an opportunity for Buffett to reflect on his journey, share insights, and prepare the company for a future under new leadership, ensuring transparency and continuity during the transition.
“Tomorrow, we’re having a board meeting of Berkshire, and we have 11 directors. Two of the directors, who are my children, Howie and Susie, know of what I’m going to talk about there,” Buffett began, indicating the gravity of the discussions to come. “The rest of them, this will come as news to, but I think the time has arrived where Greg [Abel] should become the chief executive officer of the company at year end,” he stated, emphasizing his confidence in Abel’s leadership capabilities.
In the following paragraphs, discover more about Warren Buffett, delve into his impressive net worth, and explore the intricate details surrounding his retirement from Berkshire Hathaway. This information will provide a comprehensive understanding of who Buffett is and the legacy he leaves behind as he transitions into retirement.
Warren Buffett just got a 10 minute long standing ovation after announcing his retirement.
Curtain call for the captain.
— Spencer Hakimian (@SpencerHakimian) May 3, 2025
Discover Warren Buffett’s Age and Lifelong Achievements
As of May 2025, Warren Buffett is 94 years old, a remarkable age that reflects his extensive experience and wisdom accumulated over a lifetime dedicated to investing and business leadership. Throughout his life, Buffett has become a symbol of financial success and acumen, inspiring countless individuals to pursue their financial goals with diligence and strategic thinking.
Explore Warren Buffett’s Impressive Net Worth
As reported in May 2025, Warren Buffett boasts a staggering net worth of $160.1 billion, as highlighted by Forbes. This substantial wealth is a testament to his savvy investment strategies, including his ability to identify promising companies and industries that yield significant returns over time. Buffett’s financial journey serves as a powerful example of the impact of wise investing and long-term planning.
Understanding Warren Buffett’s Decision to Retire from Berkshire Hathaway
While Warren Buffett did not explicitly disclose the reasons behind his decision to step down as the CEO of Berkshire Hathaway by the end of 2025, his focus was primarily on lauding his successor, Greg Abel, and expressing confidence in his leadership abilities. This decision signifies a thoughtful transition, ensuring that the company is poised for future success under capable management.
“I would add this — the decision to keep every share is an economic decision because I think the prospects of Berkshire will be better under Greg’s management than mine,” Buffett graciously stated to an arena of shareholders in May 2025, according to NBC News. “It’s working way better with Greg than with me because, you know, I didn’t want to work as hard as he works. I could get away with it because we’ve got a basically good business, very good business.” His words reflect a commitment to the company’s success beyond his tenure.
Meet Warren Buffett’s Designated Successor and Future CEO
Greg Abel, a 62-year-old Canadian businessman, has been appointed as Buffett’s successor. He has held the position of vice chairman of non-insurance operations at Berkshire Hathaway since January 2018 and is also the CEO of Berkshire Hathaway Energy, a key subsidiary of the company. Abel’s extensive background and leadership experience make him a fitting choice to carry forward Buffett’s legacy.
Four years prior to Buffett’s announcement about his retirement as CEO, he confirmed in May 2021 that Abel would be his successor. During that time, Buffett assured CNBC, “The directors are in agreement that if something were to happen to me tonight, it would be Greg who’d take over tomorrow morning.” This foresight highlights Buffett’s dedication to ensuring a seamless leadership transition for Berkshire Hathaway.
