Warren Buffett Shocks Shareholders By Announcing He’ll Retire By Year-End

Billionaire Warren Buffett surprised an arena full of shareholders by announcing that he will retire at the end of 2025, concluding a legendary six-decade run leading Berkshire Hathaway, Josh Funk reported the story for the Associated Press (AP).

Only two board members—Buffett’s children, Howard and Susie—were aware of the decision beforehand. I Illustration: DonkeyHotey Flickr

Buffett said he would recommend Vice Chairman Greg Abel as his successor. “I think the time has arrived where Greg should become the CEO at year-end,” Buffett told the crowd.

Abel, who manages Berkshire’s non-insurance businesses, had long been viewed as the designated heir but was not expected to take over while Buffett was still alive.

The 94-year-old investment icon delivered the news at the end of a five-hour Q&A session, taking no questions on the matter.

Only two board members—Buffett’s children, Howard and Susie—were aware of the decision beforehand. Abel, seated beside Buffett onstage, appeared unaware and returned alone later to conduct the company’s formal business meeting.