Warren Buffett Steps Down as CEO of Berkshire Hathaway

Warren Buffett, the legendary investor and longtime CEO of Berkshire Hathaway, announced at the company's annual shareholder meeting that he will step down at the end of the year, recommending Vice Chairman Greg Abel as his successor. The move surprised both shareholders and Abel himself, as Buffett had previously stated he had no plans to retire. Buffett emphasized he will remain available to help but the final decisions will rest with Abel, and he pledged to keep his fortune invested in Berkshire, citing confidence in Abel's leadership. The announcement followed Buffett's strong criticism of President Donald Trump's tariffs, which he described as harmful to global trade and relations. Buffett argued that trade should not be used as a weapon and warned of negative consequences from protectionist policies. His departure marks the end of an era for Berkshire Hathaway, a conglomerate he led for over six decades.