Warren Buffett, legendary billionaire investor, has officially resigned as the chief executive officer (CEO) of Berkshire Hathaway Inc.
Buffett’s resignation took effect on Wednesday, New Year’s Eve, marking the last day of his tenure after 60 years.
The billionaire, who turned Berkshire from a struggling textile manufacturer to a global conglomerate, first announced his plan to step down in his annual CEO message in November 2025.
He had said he would hand over to Greg Abel, CEO of Berkshire Hathaway Energy, and vice-chairman of the firm’s non-insurance operations, on December 31, 2025.
“I can’t think of a CEO, a management consultant, an academic, a member of government – you name it – that I would select over Greg to handle your savings and mine,” Buffet had said.
Although Abel will assume office from January 1, 2026, Buffett is expected remain chairman of the multinational organisation.
Buffett, known as the “Oracle of Omaha”, is considered one of the world’s most successful investors ever, with a net worth of $152 billion.
Once the world’s richest person, the billionaire businessman now resigns as the tenth-wealthiest individual on earth, according to Bloomberg.
He is said to have inspired a generation of entrepreneurs, such as Bill Gates, Microsoft founder, and Bill Ackman, Pershing Square founder.
Under Buffett’s leadership, Berkshire Hathaway has morphed into one of the world’s largest companies with a market capitalisation of over $1 trillion, according to CompaniesMarketCap.
The conglomerate now owns dozens of firms, including Geico, an insurer; Duracell, a battery maker; and Dairy Queen, a restaurant chain.
