In a historic announcement that marks the end of an era, Warren Buffett has announced he will step down as CEO of Berkshire Hathaway, ending a 60-year run as the longest-serving chief executive in S&P 500 history. The announcement came during the company’s 2025 annual shareholder meeting.
Buffett took over Berkshire Hathaway in 1965 when it was a failing textile firm. Under his leadership, it has become a $1.164 trillion giant, up from $38 billion in 1996, according to CompaniesMarketCap data.
This is not just a change at the top. Buffett’s exit signals the end of an era. He was a long-term thinker in a short-term world, and his departure marks a generational shift in how companies are run and value is built. Let’s revisit the extraordinary life and career of a man who redefined what it means to invest, lead, and give.
Who is Warren Buffett?
Warren Buffett is more than a legendary investor, he is the gold standard of disciplined, long-term wealth building. Born on August 30, 1930, in Omaha, Nebraska, Buffett showed a rare instinct for business early on. By age 11, he had bought his first stock. At 13, he filed his own tax return.
His childhood was not easy. According to The Snowball: Warren Buffett and the Business of Life by Alice Schroeder, Buffett grew up in a tense, emotionally difficult home. His father, Howard Buffett, was a stockbroker and U.S. congressman who pushed him to stay in school when he nearly dropped out.
Buffett studied at the University of Pennsylvania before transferring to the University of Nebraska. After being rejected by Harvard Business School, he enrolled at Columbia University, a move he later called one of the best turns in his life. There, he studied under Benjamin Graham, the father of value investing, and laid the foundation for his own philosophy.
Today, Warren Buffett’s net worth is $169 billion, making him the fifth richest person in the world, according to the Bloomberg Billionaires Index. Yet, he lives simply. He still resides in the modest Omaha home he bought in 1958 for $31,500 (Source: Forbes), and he has taken the same $100,000 annual salary for over four decades.
The empire he built: Warren Buffett’s investments
Warren Buffett turned Berkshire Hathaway into a conglomerate that owns businesses like GEICO, Duracell, and Dairy Queen, and holds significant stakes in companies like Apple and Coca-Cola. His investment strategy avoided trendy speculation, preferring instead to buy great businesses at fair prices.
Warren Buffett’s most impactful bets
| Investment | Year | Details |
| National Indemnity & National Fire & Marine | 1967 | Buffett’s first major insurance buy. Gained access to $173B in float, which funded decades of Berkshire deals. |
| American Express, Coca-Cola, Bank of America | Various | Bought AmEx during a scandal, Coca-Cola after the 1987 crash, and BofA in the 2011 crisis. Combined value now tops $100B. |
| Apple | 2016 | A rare tech bet. Buffett invested $31B seeing strong brand loyalty. Grew to $174B at its peak and remains Berkshire’s top holding. |
| BYD (China) | 2008 | Invested $232M in Chinese EV maker on Munger’s advice. Peaked at $9B; still holds $1.8B. A win in clean tech. |
| See’s Candy | 1972 | Bought for $25M. Taught Buffett to value brands and pricing power. Has earned $1.65B+ in pretax profit |
| Berkshire Hathaway Energy | 2000 | Bought MidAmerican for $2.1B. Now one of the U.S.’s largest utility firms, earning $3.7B in 2024. |
Source: Berkshire Hathaway annual reports, earning reports
Despite several great investment moves over the years, Buffett has famously regretted missing out on early investments in Amazon, Google, and Microsoft, admitting these were huge opportunities lost. He passed on buying 100 million shares of Walmart, which would now be worth nearly $10 billion.
Ironically, Buffett has called Berkshire Hathaway, his first major purchase, a mistake. He bought the textile company in the 1960s, only to see it shut down its mills in 1985. However, those shares, bought at $7–$8, are now valued at over $809,000 each.
Read more about Warren Buffett's portfolio Here
How the business world reacted to Warren Buffett’s retirement
The retirement of Warren Buffett triggered an outpouring of admiration, gratitude, and reflection from some of the most influential names in business. Their responses offer a glimpse into the deep impact Buffett has had, not just in investing, but in shaping the very ethos of leadership and philanthropy.
Bill Gates (Co-founder, Microsoft): "He has built an extraordinary company in Berkshire Hathaway, and he's done it with wisdom, integrity, and a phenomenal sense of humor. When he decided to give his wealth back to society, he set an example as a philanthropist, too. His legacy will inspire generations to come."
Tim Cook (CEO, Apple): "There's never been someone like Warren. It's been one of the great privileges of my life to know him. And there's no question that Warren is leaving Berkshire in great hands with Greg."
Jamie Dimon (CEO, JP Morgan): "Warren Buffett represents everything that is good about American capitalism and America itself — investing in the growth of our nation and its businesses with integrity, optimism, and common sense. I've learned so much from him to this very day, and I am honored to call him a friend."
Brian Moynihan (CEO, Bank of America): "Beyond his business success, his unprecedented philanthropic giving continues to be an example to follow. His life lessons delivered to young and old are as valuable as his business acumen."
Howard Marks (Co-founder, Oaktree Capital): "Buffett is the single most influential investor of all time — the Isaac Newton of investing. He says when he started in the early 1950s, he was able to buy dollars for 50 cents and he makes it sound easy. But the thing is, even if the opportunities were there, nobody else did it. There weren't multiple Warren Buffetts."
Source: Business Insider, Reuters
The legacy of Warren Buffett
Warren Buffett’s departure is not just about succession at Berkshire Hathaway. It is a turning point in investment philosophy. Beyond business, Buffett has pledged to donate over 99% of his wealth, having already given away $62 billion, mostly through the Gates Foundation and family foundations, as per Forbes.
Whether you’re an investor, entrepreneur, or simply someone curious about financial history, the lessons from Warren Buffett’s life are timeless. As a new chapter begins, Buffett’s successor, Greg Abel, has big shoes to fill.
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