Warren Buffett to step down as CEO at Berkshire Hathaway: “He still plans to go into the office every day.”

Warren Buffett has been the CEO of Berkshire Hathaway Inc. for nearly 60 years, but now - at 94 years old - he is finally stepping down. He will hand the reigns over to Vice Chairman Greg Abel at the end of 2025.

Warren Buffett’s plan post CEO life

Buffett, known as the “Oracle of Omaha”, spent nearly six decades as the leader of Berkshire Hathaway - headquartered in Omaha, Nebraska. It was when he took over as chairman and CEO in 1965 that the company transitioned into a conglomerate holding company.

Buffett has since built an estimated net worth of over $160 billion, mostly through Berkshire’s diverse investments, which include stakes in Apple, Bank of America, and American Express.

Despite his extreme wealth, however, Buffett still lives in his modest home in Omaha, which he’s owned since 1958. He also contributes a huge sum to charities, pledging to donate 99% of his fortune.

“Were we to use more than 1% of my claim checks (Berkshire Hathaway stock certificates) on ourselves, neither our happiness nor our well-being would be enhanced,” Buffett said. “In contrast, that remaining 99% can have a huge effect on the health and welfare of others.”

Abel already oversees the majority of Berkshire’s investments, but will take over fully at the end of the year. Buffett plans to continue going to the office even after he steps down, but will no longer be involved in the day-to-day operations. His leadership and partnership with the late Charlie Munger helped shape the company into a $1 trillion entity, with a legacy that’s rooted in value investing, humility, and generosity.

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