Warren Buffett, legendary billionaire investor, hasofficially resigned as the chief executive officer (CEO) of Berkshire HathawayInc. Buffett’s resignation took effect on Wednesday, New Year’sEve, marking the last day of his tenure after 60 years. The billionaire, who turned Berkshire from a strugglingtextile manufacturer to a global conglomerate, first announced his plan to stepdown in his annual CEO message in November 2025. He had said he would hand over to Greg Abel, CEO ofBerkshire Hathaway Energy, and vice-chairman of the firm’s non-insuranceoperations, on December 31, 2025. “I can’t think of a CEO, a management consultant, anacademic, a member of government – you name it – that I would select over Gregto 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 oneof the world’s most successful investors ever, with a net worth of $152billion. Once the world’s richest person, the billionaire businessmannow resigns as the tenth-wealthiest individual on earth, according toBloomberg. He is said to have inspired a generation of entrepreneurs,such as Bill Gates, Microsoft founder, and Bill Ackman, Pershing Squarefounder. Under Buffett’s leadership, Berkshire Hathaway has morphedinto 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.
Related Articles
Don't miss out on breaking stories and in-depth articles.