Warren Buffett Passes the Torch: End of an Era at Berkshire Hathaway

Warren Buffett, the iconic investor and CEO of Berkshire Hathaway, announced he will step down at the end of 2025, marking the end of a 60-year era. Greg Abel, Vice Chairman, has been named his successor, steering the conglomerate into its next chapter.

The announcement has spurred an outpouring of admiration from business leaders. Jamie Dimon praised Buffett as a paragon of American capitalism, and Tim Cook lauded his wisdom. Shareholders of the $1.16 trillion conglomerate await Abel's leadership, given his previous roles in capital allocation at Berkshire.

As Abel leads, he faces challenges such as maintaining growth without overpaying for acquisitions. Buffett, meanwhile, plans to retain all his Berkshire shares, emphasizing confidence in the company's future. His fortune, largely tied to Berkshire, is earmarked for charity, setting a philanthropic example.

(With inputs from agencies.)