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Warren Buffett to Step Down as Berkshire Hathaway CEO by 2025

Word on the StreetSaturday, May 3, 2025 6:11 pm ET

1min read

Warren Buffett, the 94-year-old CEO of berkshire hathaway, announced on Saturday that he will step down from his role at the end of 2025, handing over the reins to Vice Chairman Greg Abel. This news has sparked a range of reactions from industry leaders and experts.

Jamie Dimon, CEO of a prominent financial institution, praised Buffett's contributions to American capitalism, highlighting his integrity, optimism, and common-sense approach to investing. Dimon expressed his honor in calling Buffett a friend and acknowledged the profound impact Buffett has had on his own career.

Tim Cook, CEO of a leading technology company, echoed similar sentiments, noting that Buffett's wisdom has inspired countless individuals, including himself. Cook described meeting Buffett as one of the greatest honors of his life and endorsed the decision to hand over the leadership of Berkshire Hathaway to Abel.

Art Hogan, a strategist at a wealth management firm, commended Buffett's outstanding track record and acknowledged the logical timing of his departure. Hogan noted that Buffett has assembled a strong team that has increasingly played a crucial role in decision-making. He predicted that Abel will have ample resources to drive the company forward.

Ross Monahan, a legal expert, expressed concerns about the environmental impact of Berkshire Hathaway's energy operations under Abel's leadership. Monahan criticized the company for operating some of the dirtiest coal-fired power plants in the United States and questioned its commitment to addressing climate change.

Nate Garrison, Chief Investment Officer at a global investment advisory firm, acknowledged that Buffett's decision to step down was anticipated, though the exact timing was uncertain. Garrison highlighted the strong leadership team at Berkshire Hathaway and expressed confidence in the company's future under Abel's guidance.

Jack Ablin, Chief Investment Officer at a capital management firm, downplayed the significance of Buffett's announcement, noting that the transition of power had been hinted at for some time. Ablin advised clients not to sell or reduce their holdings in Berkshire Hathaway, emphasizing the company's strong financial position and Abel's reliability as a successor.

The announcement has set the stage for significant changes at Berkshire Hathaway, with investors and industry experts closely watching Abel's leadership and the company's strategic direction. Buffett's legacy as a visionary investor and leader will continue to influence the company, even as it enters a new era under Abel's guidance.

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