Warren Buffett, the world-renowned investor and longtime CEO of Berkshire Hathaway, is stepping down from his position. This was reported by Zamin.uz.
The 95-year-old Buffett will no longer be CEO but will continue to serve as the company's chairman and plans to work from the Omaha office. He will be succeeded by Greg Abel.
The 63-year-old Abel previously led Berkshire Hathaway Energy and was responsible for divisions outside the insurance sector. Berkshire Hathaway is not an ordinary company but a large ecosystem.
It includes a vast business portfolio encompassing railroads (BNSF), insurance (Geico), and various other brands. Buffett transformed the company from a small textile mill into a global investment giant.
In August 2024, Berkshire's market capitalization surpassed $1 trillion, making it the first American company outside the technology sector to achieve this milestone. Buffett's future plans are also noteworthy.
He has stated that after his passing, his wealth will be directed to a new charitable foundation managed by his children. Now, the market will test whether the new leader, Greg Abel, can match Buffett's ability to see far ahead.
In any case, this change is not an ordinary event but will be remembered as a historic turning point.
