The Entrepreneurs Weekly
No Result
View All Result
Saturday, August 9, 2025
  • Login
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
Subscribe
The Entrepreneurs Weekly
  • Home
  • BUSINESS
  • POLITICS
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
No Result
View All Result
The Entrepreneurs Weekly
No Result
View All Result
Home Business

Warren Buffett Reveals Why He’s Retiring as Berkshire CEO | Entrepreneur

by Brand Post
May 15, 2025
in Business
0
Warren Buffett Reveals Why He’s Retiring as Berkshire CEO | Entrepreneur
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


Warren Buffett, 94, surprised investors earlier this month when he announced at Berkshire Hathaway’s shareholder meeting in Omaha, Nebraska, that his nearly 60-year career as CEO was ending. Buffett’s successor, Greg Abel, 62, will take the reins on Jan. 1, 2026, though Buffett will continue as chairman of Berkshire’s board.

Buffett revealed his decision to step down as CEO in the final five minutes of a five-hour question-and-answer session. Now, new details have come to light about why Buffett decided to pass the torch to Abel—and it has to do with his age.

“How do you know the day that you become old?” Buffett told The Wall Street Journal in an interview on Wednesday. “I didn’t really start getting old, for some strange reason, until I was about 90. But when you start getting old, it does become—it’s irreversible.”

Related: Warren Buffett Says to Forget About 10,000 Hours of Practice — If You Want to Master Something, Do This Instead

Buffett told the WSJ that, in the last few years as he crossed his 90th birthday, he had started feeling the effects of his age. He had trouble remembering names and found it more difficult to read newspapers, which suddenly looked like they had unclear text.

Buffett was born in Omaha in 1930 and took control of Berkshire Hathaway, then a textile maker, in 1965 when he was just 34 years old. He became CEO and chairman of the company in 1970 and turns 95 in August.

Berkshire Hathaway chairman Warren Buffett. Photo by Daniel Zuchnik/WireImage

Buffett told WSJ that he never intended to be Berkshire’s CEO for life and was “surprised” at how long his tenure had lasted. He also observed that his days had slowed down, while Abel brought more energy to the table and accomplished more during a workday.

Related: Warren Buffett’s Successor, Greg Abel, Outlined Berkshire Hathaway’s Critical Values at the Company’s Annual Meeting.

“The difference in energy level and just how much he [Abel] could accomplish in a 10-hour day compared to what I could accomplish in a 10-hour day — the difference became more and more dramatic,” Buffett told WSJ.

Buffett said that Abel was “so much more effective” in handling day-to-day operations at Berkshire that “it was unfair, really,” not to have him serve as CEO.

Abel joined Berkshire in 1999 after the firm acquired MidAmerican Energy Holdings, an energy company where he served as an executive. Buffett made Abel Berkshire’s vice chairman of non-insurance operations in 2018. At a shareholder meeting in 2021, Buffett disclosed that Abel would succeed him as CEO.

Buffett told WSJ that he plans to keep working at Berkshire and says his health is in good shape.

Related: ‘Father Time Always Wins’: Warren Buffett, 94, Just Announced Major Changes to His Plan to Give Away His Money

Warren Buffett, 94, surprised investors earlier this month when he announced at Berkshire Hathaway’s shareholder meeting in Omaha, Nebraska, that his nearly 60-year career as CEO was ending. Buffett’s successor, Greg Abel, 62, will take the reins on Jan. 1, 2026, though Buffett will continue as chairman of Berkshire’s board.

Buffett revealed his decision to step down as CEO in the final five minutes of a five-hour question-and-answer session. Now, new details have come to light about why Buffett decided to pass the torch to Abel—and it has to do with his age.

“How do you know the day that you become old?” Buffett told The Wall Street Journal in an interview on Wednesday. “I didn’t really start getting old, for some strange reason, until I was about 90. But when you start getting old, it does become—it’s irreversible.”

The rest of this article is locked.

Join Entrepreneur+ today for access.



Source link

Tags: BerkshireBerkshire HathawayBuffettBusiness NewsCEOCEOsentrepreneurHesNews and TrendsRetiringRevealsShareholdersWarrenWarren Buffett

Related Posts

How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur
Business

How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur

August 9, 2025
5 Trading Secrets That Could Mean Retiring 30 Years Early | Entrepreneur
Business

5 Trading Secrets That Could Mean Retiring 30 Years Early | Entrepreneur

August 9, 2025
I Asked ChatGPT’s New Agent What to Post Next — It Got 50,000 Views in 48 Hours | Entrepreneur
Business

I Asked ChatGPT’s New Agent What to Post Next — It Got 50,000 Views in 48 Hours | Entrepreneur

August 9, 2025
  • Trending
  • Comments
  • Latest
Meet Amir Kenzo: A Well Known Musical Artist From Iran.

Meet Amir Kenzo: A Well Known Musical Artist From Iran.

August 21, 2022
Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

Behind the Glamour: Bella Davis Opens Up About Overcoming Adversity in Modeling

April 20, 2024
Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

Dr. Donya Ball: Pioneering Leadership Solutions for Tomorrow’s Challenges

May 10, 2024
Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

Nasiyr Bey’s Journey from Brooklyn to Charlotte: The Entrepreneurial Path to Owning a Successful Cigar Lounge

August 8, 2024
Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

Augmented.City Startup Developers Appeal To US Politicians With An Open Letter

0
U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

U.S. High Court Snubs Challenge To State And Local Tax Deduction Cap

0
GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

GOP Lawmaker Blames Biden For Russia-Ukraine War: Putin ‘Could never have Invaded’

0
Brad Winget’s Tips and Tricks on Having a Career in Real Estate

Brad Winget’s Tips and Tricks on Having a Career in Real Estate

0
How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur

How to Run Multiple Businesses — From a CEO Who’s Doing It | Entrepreneur

August 9, 2025
5 Trading Secrets That Could Mean Retiring 30 Years Early | Entrepreneur

5 Trading Secrets That Could Mean Retiring 30 Years Early | Entrepreneur

August 9, 2025
I Asked ChatGPT’s New Agent What to Post Next — It Got 50,000 Views in 48 Hours | Entrepreneur

I Asked ChatGPT’s New Agent What to Post Next — It Got 50,000 Views in 48 Hours | Entrepreneur

August 9, 2025
Apple CEO Tim Cook Says He Wants to Buy Startups | Entrepreneur

Apple CEO Tim Cook Says He Wants to Buy Startups | Entrepreneur

August 8, 2025

The EW prides itself on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

Transcending the bounds of Chicago to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

NEWS

  • Business
  • Politics
  • Entrepreneurship
  • Entertainment
Instagram Facebook

© 2024 Entrepreneurs Weekly.  All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • ENTREPRENEURSHIP
  • ENTERTAINMENT
  • POLITICS
  • BUSINESS
  • CONTACT US
  • ADVERTISEMENT

Copyright © 2024 - The Entrepreneurs Weekly

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In