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Warren Buffett announced that he would retire at the end of the year as CEO of Berkshire Hethai.
The veteran investor, known as Oracle of Omaha, said the annual meeting of his company, which is conveyed to the reins by Deputy Chairman Greg Obel.
“I think the time has come when Greg should become the main executive director of the company at the end of the year,” Buffett said, 94.
D -Buffett, who built Berkshire Hethai from an unsuccessful textile manufacturer in an investment Juggernaut worth 1.16 TN (£ 870 billion), perhaps the most successful investor in the world.
After applause to the audience about 40,000, he joked: “The enthusiasm shown by this answer could be interpreted in two ways.”
The billionaire said on Saturday at a meeting in Amakh, Nebraska, that the only people who knew about their decision were two of his children, Howard and Susi Buffett.
Mr. Obel, who was sitting next to Mr. Buffett on stage, was obviously caught in this announcement.
Mr. Buffett picked up Mr. -Nan Abel as a successor four years ago, but at the time he did not indicate that he would retire.
During the meeting, Mr. Buffett added that he did not plan to sell any of his actions Berkshire.
“I do not intend, zero, sell one share of Berkshire Hethai. It will come off,” he said, as the crowd was pleased.
Apple CEO Tim Cook was one of several business executives, which published statements in which Mr. Buffette praised.
“There was never someone like Warren, and countless people, including me, were inspired by his wisdom,” Mr. Cook wrote on X/Twitter.
“It was one of the greatest privileges in my life to know it. And it is not in doubt that Warren leaves Berkshire in big hands with Greag.”
In 2023, Mr. Buffett issued a rare letter in which he acknowledged that while he had no desire to leave, he “played additional innings”.
Berkshire Hathaway owns more than 60 companies, including Geico insurers, Duracell battery and restaurant.
It also has great rates in Apple Coca Cola, Bank of America and American Express.
Mr. Buffett, who has given billions of charity, was recognized by Bloomberg as a fourth person last month, with a net price of $ 154 billion.
He earned his first money at the age of six, bought his first actions at 11 and filed his first tax return at 13.
Despite the fact that one of the richest people in the world, Mr. Buffett has lived in the same modest house in Amakh for over 65 years.
The announcement passed when Mr. Baft opposed the tariffs for President Donald Trump, informing investors that the United States should not use “trade as a weapon”.
“In my opinion, this is a big mistake when you have 7.5 billion people who don’t love you, and you have 300 million that are twisted about how they did,” he said earlier at the meeting.
“We have to look for trading with the rest of the world. We must do everything to us and they have to do what they are best,” he added.
