Warren Buffett
The legendary investor has announced that he will leave the executive positions he maintains at Berkshire Hathaway at the end of the year, and will recommend Berkshire’s board of directors that Greg Abel has long become the next CEO of the company.
After 55 years of career, Warren e. BuffettCEO and Chairman from Berkshire Hathaway, announced this Saturday that it will leave the company’s lead, ending a legendary investment career, which dominated year after year and earned him the nickname of “Oracle of Omaha“.
According to, Buffet said that he will recommend to the Board of Directors of Berkshire Hathaway that Greg Abelthere is a long time considered its successor, take the lead of the conglomerate.
“I think The time has come where Greg is due to become the company’s executive director at the end of the year, ”said Buffett, 94, during the long -awaited annual meeting at Berkshire Hathaway in Omaha.
Abel is currently the president and CEO of the energy business and vice president of Berkshire Hathaway insurance operations. Buffett said that would “stay around” to helphaving not been clear if Abel will also assume the position of president of the company’s Ca.
“I think Berkshire’s prospects will be better under Greg’s management than under mine,” Buffett said during the meeting. “I hope Abel is still managing things in 50 years,” added the investor.
Barrel hunter
In 1965, Warren Buffett bought Berkshire, at the time a failed textile factoryand in the last six decades has transformed it into a valued conglomerate Millo Millions of euros from euroswhich has dozens of companies, including Geico, Dairy Queen and Duracell, and multimillion participations, among others, in Coca-Cola, Apple, AmazonVerizon, Chevron e American Express.
Between 1965 and 2024, the mythical “Omaha Oracle” was responsible for an appreciation of about 5,500,000% in Berkshire -arrested shares compared to about 39,000% for the S&P 500 index as a whole, note o. This appreciation, to a annual average of 19.9%made Buffett phenomenally rich.
The “guru” of investment markets, which rarely failed In his bets, he took over in 2021 when he acquired Precision Castparts for 32.1 billion euros in 2016. “My calculation error was unmasked By adverse developments throughout the aerospace industry, ”said Buffett.
Even after having donated more than half from fortune to beneficial causes, it is also, according to the sixth richest person in the worldwith a liquid heritage of about 140 billion euros.
Buffett, often called “barrel hunter“CEO leaves at a high point. Berkshire shares rose 20% this year to record levels, contrary to a 3% S&P drop.
When Buffett leaves his place, Greg Abel will have the ungrateful task of succeeding a of the greatest business leaders in American history.
Will be remembered as a CEO who built a of the most valuable companies from the world, created huge wealth for your investorsnourished a unique long -term property culture, and inspired legions of investors and executives with their Investment, Business, Management and Life Lessons.
