"The "Oracle of Omaha" has officially retired. Mostly. At age 95, legendary investor Warren Buffett stepped down on Wednesday as CEO of Berkshire Hathaway, the once-failing textile business he spent 60 years building into one of the world's largest and most powerful companies. Today marks another step in Buffett's long and still partial goodbye from Berkshire Hathaway. It's the first day under Buffett's longtime deputy and handpicked successor, Greg Abel."
"Together with his longtime business partner and close friend, the late investor Charlie Munger, Buffett transformed Berkshire Hathaway into a global powerhouse. Today, the massive conglomerate owns businesses ranging from insurance companies and railroads to Dairy Queen and Duracell batteries. It's also a powerful investor in many large public companies, including Apple, Coca-Cola and American Express."
"This financial success has made Buffett into a giant of American capitalism, and one of the wealthiest people in the world. At the same time, his down-to-earth folksy persona and his willingness to give away his money not to mention the annual shareholder parties he throws in his hometown of Omaha, Nebraska have made him into a national celebrity outside of Wall Street."
Warren Buffett, age 95, stepped down Wednesday as CEO of Berkshire Hathaway, beginning a partial retirement and handing leadership to longtime deputy Greg Abel. Buffett spent 60 years transforming a failing textile company into a global conglomerate owning businesses from insurance and railroads to Dairy Queen and Duracell, and holding major stakes in Apple, Coca-Cola and American Express. Together with Charlie Munger, Buffett built Berkshire into a powerful investment and operating company. Buffett's folksy persona, philanthropy and annual Omaha shareholder gatherings bolstered his celebrity. Buffett publicly named Abel successor in 2021, and Abel now leads the company.
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