Warren Buffett will leave the Berkshire Hathaway command, but not the markets. At age 94, the mega -coating said he will retire from the role of CEO until the end of this year, but will continue to attend the company’s office in Omaha, Nebraska, as he has been doing for decades.
“I won’t stay at home watching soap operas,” he told Wall Street Journal in an interview published on May 14.
Despite the departure from the main position, Buffett said he still intends to contribute to his analysis and investment decisions. “My interests are still the same,” he said.
The choice of successor had already been made in 2021. At the time, Buffett appointed Greg Abel, then vice president of Berkshire insurance operations. Since then, the transition has gained strength.
“The difference in the energy level and how much [Abel] I could do it on a 10 -hour day compared to what I could do… it became increasingly dramatic, ”admitted Buffett.
Although it recognizes natural limitations of age – as sometimes forgetting names – the investor states that his financial reasoning remains sharp, especially in times of uncertainty.
Continues after advertising
“I’ll be useful here if there is panic in the market, because I’m not afraid when prices fall.”
According to Wall Street JournalBuffett had never publicly announced his retirement until the company’s annual meeting on May 3.
Internally, however, it had already established the criterion: “Staying CEO as long as it was more useful than any other.”
Buffett Retirement
Permanence at work after 75 is still unusual, but it has been growing in the United States. Business leaders, such as Microsoft co-founder Bill Gates, and Costco’s former CEO Jim Sinegal follow the same way.
Continues after advertising
“My friend Warren Buffett still goes to the office six days a week,” Gates, 69, told CNBC Make It in September 2024.
Also read:
Sinegal, in turn, left CEO position in 2012, but some Tuesdays still appear in the office. At the same publication, he said he always saw his role as a hobby.
Continues after advertising
The logic resonates with Buffett’s own advice, registered in his 2022 letter to Berkshire’s shareholders: choose a job that you would do even if you didn’t need money.
For him, this is the recipe for a solid career – and a longer and more happy life. “I think a happy person lives more than someone who is doing things who do not admire much in life,” he concluded.
(With information from Wall Street Journal and CNBC)
Continues after advertising
Content generated with the aid of artificial intelligence.
