Warren Buffett Resigns From Berkshire Hathaway

Quick overview

Warren Buffett asked Berkshire Hathaway’s board to appoint Greg Abel as the company’s CEO at the end of the year.

Abel will have the final call, but Buffett said he will still ‘hang around’ to assist. Buffett claimed he would never sell a single share during the annual meeting commemorating his sixty years as CEO of Berkshire.

The investment legend stated, “I would add this, the decision to keep every share is an economic decision because I think  Berkshire will be better under Greg’s management than mine.”

Buffett and Abel told CNBC’s Becky Quick after the shareholder meeting that the two would discuss what role, formally, they would discuss for Buffett’s role at the company during a Sunday board meeting, post-shareholder meeting. He is currently the CEO and chairman of the conglomerate, aged 94.

It remains uncertain if Abel will also take over the position of chairperson

Berkshire Hathaway holds significant stakes in five major companies: Apple, Coca-Cola, Bank of America, American Express, and Chevron. Notably, a substantial part of Berkshire Hathaway’s investment value is linked to Apple, which, as reported in Berkshire’s third-quarter earnings for 2024, was valued at nearly $70 billion by the end of September.

ABOUT THE AUTHOR See More

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.

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