(Photo: Rick Wilking/ Reuters)
It was expected that Warren Buffettthe legendary 94 -year -old investor announced his departure from Berkshire Hathaway at some point. This day arrived on Saturday (3), during the long -awaited investor conference holding of “OMAHA Oracle“.
Thus, Buffett reported that he will leave the position of CEO later this year and will indicate Greg Abel to succeed him in charge of Berkshire Hathaway.
“I will still be present and help in some situations, but the final decision will be Greg in any subject. He has not knew that so far. He will be the CEO, and the final point,” Buffett said at the end of the event.
The mega -coating also assured that he will not sell any of his Berkshire actions. “The decision to maintain all actions is economical, because I believe that Berkshire’s perspectives will be better under Greg’s management than under mine,” Buffett said.
His comments were followed by a long applause standing from the audience.
Buffett spoke at the annual meeting of Berkshire Hathaway today, after the conglomerate he built over 60 years showed that he remains cautious about markets, allowing his cash participation to grow to a record of $ 347.7 billion.
Berkshire Hathaway Balance of Warren Buffett
The Berkshire Hathaway (Berk34) Reported net profit of US $ 4.6 billion in the first quarter of 2025 (1T25), a 64% drop compared to the same period as 2024, according to balance released on Saturday (3).
Operating profit also retreated 14.1% in the annual comparison, totaling US $ 9.64 billion, compared to US $ 11.22 billion in the same period of the previous year.
In the insurance sector, subscription operating revenue fell 49%, totaling US $ 1.34 billion, while revenue from investments in the area increased by 11%, reaching US $ 2.89 billion.
The company faced losses of $ 1.1 billion due to catastrophic events in the first quarter, including forest fires in southern California.
Source: Moneytimes
I am an author and journalist with a focus on market news. I have worked for a global news website for the past two years, writing articles on a range of topics relating to the stock market. My work has been published in international publications and I have delivered talks at both academic institutions and business conferences around the world.
