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May7, 2025

Andrew Campbell 

Warren Buffett, 94, spoke on May 3 at Berkshire Hathaway Inc.'s annual shareholder meeting in Omaha, Nebraska. Buffett announced that he would step down as CEO at the end of the year.

Buffett grew the company to a value of almost $1.16 trillion. He became a famous billionaire who was known for his wit and investment savvy. After leading the company for 60 years, he will leave at the end of the year 2025.

After the board gives its permission, Greg Abel, the vice chairman for non-insurance operations, will lead the company. According to Buffett, the board will convene on May 4.