Warren Buffett, widely regarded on Wall Street as a “living legend,” is stepping down as CEO of Berkshire Hathaway. According to foreign media reports, the company’s “wheel” will pass to 63-year-old Greg Abel.
Reports say that while 95-year-old Buffett will leave the CEO role, he will remain Berkshire’s chairman and continue working from his office in Omaha.
Greg Abel is no stranger to the company: he previously ran Berkshire Hathaway Energy and later served as the executive overseeing non-insurance businesses. Now the entire “empire” is being handed to him — and one of the biggest questions is what to do with Berkshire’s massive cash pile.
Berkshire Hathaway itself is not an ordinary company — it’s an entire ecosystem. It owns a railroad (BNSF), insurance (Geico), and a large portfolio of various brands. Over the years, Buffett turned what was once a textile mill into an investment giant.
Notably, in August 2024 Berkshire’s market capitalization surpassed $1 trillion, making it one of the first U.S. companies outside the tech sector to reach that milestone.
Buffett’s personal path is a story of its own: reports also say he has stated that after his death, his accumulated wealth will be directed to a new charitable foundation run by his children.
In short, a new era is beginning for Berkshire: the market is now looking for an answer to whether “Abel can be as steady and forward-looking as Buffett.” One thing is clear — this is not a mere reshuffle, but a historic turning point.
Read “Zamin” on Telegram!
Users of Меҳмон are not allowed to comment this publication.
