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Investing legend Warren Buffett stepped down as CEO of Berkshire Hathaway, handing over the reins to Greg Abel. After a six-decade run at the helm of affairs, Buffett formally relinquished the CEO role on December 31.
During his leadership, he turned the failing textile business into a trillion-dollar conglomerate. Berkshire now has stakes in companies like insurance, railways, energy and consumer brands. In an interview with an English news channel, he said: “The company has a better chance of being here 100 years from now than any company I can think of.”
Berkshire Hathaway was originally a struggling textile manufacturer based in New England. In 1965, Buffett took control of the company to revive the profits of the business. In the following years, he redirected the capital from Berkshire into insurance and investments, turning it into a diversified business empire. Under Buffett’s supervision, Berkshire Hathaway evolved into a global conglomerate valued at over $1 trillion.
When Buffett took charge of Berkshire, its shares traded around $19. By the end of 2025, a single Class A share was worth over $750,000.
As Buffett steps down from the top position, investors are increasingly worried over what would disappear with him. However, Buffett would continue to remain the chairman of Berkshire Hathaway. Without much public appearances, he will be confined to advisory and oversight roles.
Popularly known as the “Oracle of Omaha,” the 95-year-old has always remained patient with the stock market, never chasing quick gains. He emphasized long-term, value-based investing, believing it leads to sustainable profits.
Warren’s successor Greg Abel joined Berkshire Hathaway in 2000, when it acquired MidAmerican Energy. Buffett praised Abel as a tireless worker and honest communicator. Since 2018, the 63-year-old has been serving as the company’s vice-chairman and managing Berkshire’s non-insurance businesses.
Buffett was born in 1930. He graduated from the University of Nebraska and then studied at Columbia Business School. Later, he also pursued a course at the New York Institute of Finance and made a career in business.
Surprisingly, Buffet, at the age of 12, bought $114.75 worth of stock in natural gas company Cities Service. He said that he had saved money for the purchase since he was six-years-old. By the time Buffet became 16-year-old, his investment grew to the equivalent of $53,000. At 32, he was a millionaire and when he was 56 years old, he became a billionaire.
According to Bloomberg Billionaires, Buffett is now the 10th richest person in the world, with a fortune of $150 billion. Buffett dedicated much of his fortune to philanthropy.
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