Super investor Buffett retires

Warren Buffett

Warren Buffett retires

Nora Fernstedt,

TT

Published 2025-05-03 20.13

Warren Buffett. Photo: AP

Financial legend Warren Buffett, 94, plans to retire at the end of the year.

He announced this at Berkshire Hathaway's annual meeting.

He is proposing that Greg Abel become the new CEO of the conglomerate.

- I think the time has come when Greg should become the company's new CEO, Buffett said at the annual meeting in Omaha, Nebraska.

The 94-year-old adds that he will still be available - but that Abel will have the final say.

The announcement came as a shock, since Buffett had previously said that he has no plans to retire.

Only his two children, Howard and Susie Buffett, have known about the plans.

Frugal Billionaire

Super investor Warren Buffett is considered one of the world's richest people. But he is known for being relatively frugal. He has lived in the same modest house in Omaha for over 65 years and has given billions to charity.

Berkshire Hathaway owns more than 60 companies, including battery maker Duracell and restaurant chain Dairy Queen.