Warren Buffett, legendary billionaire investor, has officially resigned as the chief executive officer (CEO) of Berkshire Hathaway Inc.
Buffett’s resignation took effect on Wednesday, New Year’s
Eve, marking the last day of his tenure after 60 years.
The billionaire, who turned Berkshire from a struggling
textile manufacturer to a global conglomerate, first announced his plan to step
down in his annual CEO message in November 2025.
He had said he would hand over to Greg Abel, CEO of
Berkshire Hathaway Energy, and vice-chairman of the firm’s non-insurance
operations, on December 31, 2025.
“I can’t think of a CEO, a management consultant, an
academic, a member of government – you name it – that I would select over Greg
to handle your savings and mine,” Buffet had said.
Although Abel will assume office from January 1, 2026,
Buffett is expected remain chairman of the multinational organisation.
Buffett, known as the “Oracle of Omaha”, is considered one
of the world’s most successful investors ever, with a net worth of $152
billion.
Once the world’s richest person, the billionaire businessman
now resigns as the tenth-wealthiest individual on earth, according to
Bloomberg.
He is said to have inspired a generation of entrepreneurs,
such as Bill Gates, Microsoft founder, and Bill Ackman, Pershing Square
founder.
Under Buffett’s leadership, Berkshire Hathaway has morphed
into one of the world’s largest companies with a market capitalisation of over
$1 trillion, according to CompaniesMarketCap.
The conglomerate now owns dozens of firms, including Geico,
an insurer; Duracell, a battery maker; and Dairy Queen, a restaurant chain.
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