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Buffett's Exit Marks New Chapter for Berkshire Hathaway
Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, has announced his intention to step down by the end of 2025. At 94, Buffett is concluding a remarkable 60-year tenure, during which he transformed Berkshire from a struggling textile firm into a $1.16 trillion conglomerate. He has recommended Greg Abel, the company’s vice chairman of non-insurance operations, as his successor, pending board approval.
Greg Abel: The Chosen Successor
Greg Abel, a 62-year-old Canadian executive, has been a key figure at Berkshire Hathaway for over two decades. He currently oversees the company’s non-insurance operations, including major subsidiaries like BNSF railroad, See’s Candies, and Dairy Queen. Known for his low-profile lifestyle and strong business instincts, Abel was unofficially revealed as Buffett’s heir apparent in 2021 .
Abel’s leadership style emphasizes hard work and integrity—traits he shares with Buffett. He resides in Des Moines, Iowa, and leads Berkshire Hathaway Energy. While experts acknowledge he cannot replicate Buffett’s extraordinary investment legacy, board members and executives express confidence in his ability to preserve the firm’s unique culture and oversee its diverse holdings.
Berkshire’s Financial Position and Market Performance
As of the first quarter of 2025, Berkshire Hathaway’s cash reserves have reached a record $348 billion, reflecting Buffett’s cautious approach amid high equity valuations . Despite this conservative stance, Berkshire’s Class A stock is trading at approximately $809,350 per share, with a market capitalization exceeding $1 trillion.
However, when compared to Bitcoin’s performance, Berkshire’s returns appear modest. Since 2015, Bitcoin has outperformed Berkshire Hathaway significantly, with Bitcoin’s returns surpassing 41,000% compared to Berkshire’s 271.6% over the same period . Buffett has been a vocal critic of Bitcoin, famously calling it “rat poison squared,” yet the cryptocurrency’s performance has eclipsed that of his conglomerate.