Warren Buffett, the 94-year-old CEO of Berkshire Hathaway, announced his retirement by year-end during the company's annual meeting attended by 40,000 people. This news, which surprised even his board, was met with tears and applause from an appreciative audience. For over 60 years, Buffett has been a respected figure in business, representing trust and integrity while addressing capitalism's shortcomings. Renowned for his modest lifestyle amidst immense wealth, Buffett's departure signifies the end of an influential era in American business and capitalism.
After 60 years of running the company he has called his painting, the 94-year-old Buffett said that he planned to step down as chief executive at year end.
Buffett is often described as a symbol of American capitalism. The truth is that he has always been an outlier... willing to speak uncomfortable truths about the system's ills.
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