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WarrenBuffett announced that he will retire as CEO of Berkshire Hathaway by May 2025. Buffett’s retirement as CEO of Berkshire Hathaway will take place in May 2025, six decades after his start with the company. He will continue to serve as chairman following his departure from his executive role. Thanks to 60 years with the company, Buffett became one of the richest billionaires in the world, racking up the fifth highest net worth in the world, per Forbes.
Buffett met with Berkshire’s shareholders in May 2025, where he broke the news of his decision to step down.
“Tomorrow, we’re having a board meeting of Berkshire, and we have 11 directors. Buffett said that two of the 11 directors are my children Howie, and Susie. They know what I will be talking about. “The rest of them, this will come as news to, but I think the time has arrived where Greg [Abel] should become the chief executive officer of the company at year end,”
Below, learn more about Buffett, his current net worth and the details behind his retirement from Berkshire Hathaway.
Warren Buffett just got a 10 minute long standing ovation after announcing his retirement.
Curtain Call for the Captain.
pic.twitter.com/RRk4CpgFZh
— Spencer Hakimian (@SpencerHakimian) May 3, 2025
How Old Is Warren Buffett?
Buffett is 94 years old as of May 2025.
Warren Buffett’s Net Worth
As of May 2025, Buffett has a net worth of $160.1 billion, according to Forbes.
Why Is Warren Buffett Stepping Down From Berkshire Hathaway?
Buffett did not reveal the reason why he decided to step down as Berkshire’s CEO by the end of 2025. He instead focused on praising Greg Abel as his successor and his abilities as the future CEO. It’s working better with Greg because I didn’t work as hard as Greg does. I could get away with it because we’ve got a basically good business, very good business.”
Who Is Warren Buffett’s Successor?
Abel is a 62-year-old Canadian businessman, who has served as the
vice chairman of non-insurance operations of Berkshire Hathaway since January 2018. He has also been the CEO of Berkshire Hathaway Energy, a subsidiary of the company. Abel was confirmed as Buffett’s successor four years before he announced his resignation from the CEO position in May 2021. Buffett said at the time to CNBC that “the directors are in agreement” that if anything were to happen to him tonight, Greg would take over as CEO tomorrow morning.
