## The End of an Era: Warren Buffett to Pass Berkshire Hathaway Reins to Greg Abel in 2025
In a move that marks a significant shift in the world of finance, legendary investor Warren Buffett announced today that he will be stepping down as CEO of Berkshire Hathaway at the end of 2025. The 94-year-old titan of industry will recommend to the company’s board that Greg Abel, currently Vice Chairman for non-insurance operations, succeed him.
“I think the time has arrived where Greg should become the chief executive officer of the company at year end,” Buffett stated during the company’s annual shareholder meeting, signaling the approaching change in leadership.
While relinquishing the CEO role, Buffett assured stakeholders that he plans to “hang around” in some capacity. Details of his future role will be discussed with Abel during the board meeting scheduled for Sunday, offering a glimpse into the continued, albeit modified, influence of the “Oracle of Omaha.”
Abel’s succession has been anticipated, having been previously identified by Buffett as his likely successor. However, the specific timeline remained uncertain until today’s announcement. The transition marks the end of an era for Berkshire Hathaway, a company synonymous with Buffett’s astute investment strategies and long-term vision.
While Berkshire Hathaway’s investments span numerous sectors, the company has made considerable inroads into the technology industry. Despite reducing its stake in Apple last year, the tech giant still represents a substantial portion – over 20% – of Berkshire Hathaway’s overall portfolio, highlighting the continued importance of technology in the company’s investment strategy under both Buffett’s and, presumably, Abel’s leadership. The world will be watching to see how Abel shapes the future of Berkshire Hathaway, and whether the company will continue its strong ties to the tech world.