Warren Buffett, one of the world’s richest and most respected investors, has announced that he will step down as the CEO of Berkshire Hathaway by the end of 2025. This major decision came during the company’s annual shareholders’ meeting held in Omaha. Buffett, now 94, has confirmed that Greg Abel will take over as his successor. Abel has worked closely with Buffett for years and was already seen as the natural choice to lead the company forward.
This announcement didn’t come as a shock to industry experts, but it certainly marks the end of an era. Buffett has served as CEO for more than five decades, building Berkshire Hathaway into a powerhouse with investments in major global companies.
Buffett’s Wealth Grows Even as Others See a Drop
While most billionaires saw a decline in their wealth in 2025, Buffett’s net worth grew. According to Bloomberg’s Billionaire Index, his wealth increased by $16.4 billion this year alone. His total net worth now stands at around $169 billion, which is approximately Rs. 14.2 lakh crore in Indian currency.
This growth came even as tech giants like Elon Musk, Jeff Bezos, and Mark Zuckerberg faced declines in their fortunes. Buffett took a safer approach. He reduced stakes in risky tech and banking sectors, increased cash reserves, and invested heavily in U.S. Treasury bonds, which offered high yields.
By the end of 2024, Berkshire Hathaway had over $334 billion in cash. Buffett mentioned in a letter to shareholders that he did not find attractive deals in the market, so he chose to stay cautious instead of rushing into investments.
A Billionaire Who Still Lives a Simple Life
Despite his huge fortune, Buffett continues to live a very simple and disciplined life. He still lives in the same house in Omaha, Nebraska, that he bought in 1958 for just $31,500. Today, the value of that house is around Rs. 11 crore ($1.4 million). Apart from this, he owns a holiday home in Laguna Beach, California.
Buffett is known for his frugal habits. He doesn’t spend on luxuries like most billionaires. He drives himself to work, eats fast food, and avoids fancy gadgets. This down-to-earth nature makes him relatable and respected worldwide.
Investment Style: Focused, Long-Term, and Disciplined
Buffett’s investment philosophy is simple but powerful. He believes in long-term investments and advises people to stay calm during market ups and downs. In his 2018 CNBC interview, he said, “People who worry about daily price movements should not buy stocks.”
Back in 2008, during the financial crisis, he wrote in The New York Times, “Be fearful when others are greedy, and be greedy when others are fearful.” This shows how he often takes the opposite approach to most investors.
His stock portfolio, worth $267 billion by the end of 2024, includes major companies like Apple, Coca-Cola, American Express, Amazon, and Bank of America. He does not invest emotionally. If the situation demands, he sells and holds cash until a better opportunity comes along.
Buffett’s Legacy Will Continue with Greg Abel
With Buffett stepping down, Greg Abel will take over leadership. Abel has already been handling Berkshire’s non-insurance businesses and has earned Buffett’s full trust over the years. Buffett had earlier confirmed that Abel was the first choice to take the reins of the company when the time came.
Buffett has also committed to donating most of his wealth to charity, especially through the Bill & Melinda Gates Foundation. He believes in using wealth to create a positive impact rather than hoarding it.
Disclaimer: This article is for informational purposes only and does not provide financial advice. Readers should consult a qualified financial advisor for personal investment decisions.
