Warren Buffett has announced that he will step down as CEO of Berkshire Hathaway by the close of 2025. Speaking at the company’s annual shareholder meeting, the legendary investor confirmed that Greg Abel—vice chairman overseeing non-insurance operations—will be his successor, subject to approval by the board.
As reported by CNBC, Buffett reaffirmed Abel’s long-standing position as his preferred replacement, saying, “The moment has come for Greg to take over as CEO at the end of the year. I’m formally recommending him to the board.”
Although stepping away from the top position, Buffett noted he will remain with the firm in an advisory capacity, but emphasized that “final decisions will be Greg’s to make.” The leadership transition comes as Berkshire maintains an enormous cash pile of approximately $348 billion.
Buffett, who has often warned about the dangers of the ballooning U.S. national debt and economic instability, is making his exit amid a turbulent market environment.
Berkshire Still Beats the S&P—But Trails Behind Bitcoin
Berkshire Hathaway has consistently outperformed the S&P 500 for decades, but in recent years, it has been unable to match the explosive gains of Bitcoin and even gold.
Despite Berkshire’s Class A stock trading above $809,000 per share and boasting a market capitalization exceeding $1 trillion, its returns since 2015 have significantly lagged behind BTC. Since 2020 alone, Bitcoin has surged more than 781%, whereas Berkshire’s returns during the same period have been closer to 150%.
Buffett has been one of Bitcoin’s most vocal critics, dismissing the digital asset as having no intrinsic value and even comparing it to fraudulent schemes. Alongside longtime partner Charlie Munger, he has argued that Bitcoin doesn’t qualify as a legitimate investment and has advised investors to steer clear.
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