Today's News: Warren Buffett to Step Down as Berkshire Hathaway CEO

Buffett will step down as CEO at the end of 2025, with Vice Chairman Greg Abel slated to succeed him, pending board approval. He will remain as chairman.

Terrence Dorsey

May 03, 2025

Photo: The Asahi Shimbun/Getty Images

Date: May 3, 2025
Topic: Warren Buffett Announces Plan to Step Down as Berkshire Hathaway CEO at End of 2025
Summary: Warren Buffett announced during Berkshire Hathaway’s annual shareholder meeting that he will step down as CEO at the end of 2025, with Vice Chairman Greg Abel slated to succeed him, pending board approval. The announcement marks the end of an era for the $1.1 trillion conglomerate Buffett has led since 1965. Abel, a longtime Berkshire executive, is expected to maintain the firm’s decentralized culture while bringing a more active leadership style. Buffett also addressed concerns over tariffs and emphasized Berkshire’s record cash reserves amid reduced investment opportunities.

Sources

Key Points

Warren Buffett will retire as CEO of Berkshire Hathaway by the end of 2025; Greg Abel is his chosen successor.
Buffett will remain chairman until his death, after which his son Howard Buffett is expected to become non-executive chairman.
Abel will have final authority over operations and capital deployment; Buffett may stay on in an informal advisory role.
Buffett and multiple sources praised Abel’s hands-on leadership and long tenure with Berkshire Hathaway Energy.
Berkshire continues to hold a record cash reserve of $347 billion, reflecting few attractive investment opportunities.
Buffett criticized U.S. tariffs, labeling trade wars a “mistake” and warning of global economic consequences.

Unique Highlights

CNN details Buffett’s personal investment history from childhood and includes reflections on market volatility, Apple investments, and deficit concerns tied to the Department of Government Efficiency.
The New York Times reports Berkshire’s Q1 net income dropped 64%, and includes Buffett’s indirect political criticism of former President Donald Trump’s trade policies.
NBC News includes commentary from board member Ron Olson comparing Buffett’s future role to Charlie Munger’s past influence.
Fox Business notes Buffett’s public statement that Berkshire’s prospects are stronger under Abel’s leadership and that he will not sell any shares.
The Washington Post emphasizes Buffett’s surprise announcement and includes Abel’s onstage reaction, where he expressed humility and readiness.
The Wall Street Journal highlights the emotional response from shareholders and the symbolic significance of Buffett’s final annual meeting as CEO.

Contrasting Details

CNN and The Wall Street Journal refer to the CEO transition happening at year-end 2025, while Fox Business and NBC News suggest it could occur by the end of this year.
CNN extensively covers macroeconomic commentary and Berkshire’s earnings, while Fox Business and NBC News focus more narrowly on the leadership change.
The New York Times and CNN offer more analysis on tariffs and their impact on Berkshire’s operations, which is largely absent from Fox Business and NBC News.
The Wall Street Journal emphasizes the shareholder sentiment and legacy aspects of the transition more than the financial or political implications discussed elsewhere.

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