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Warren Buffett shocked investors…
Announcing his retirement on Saturday at the Berkshire Hathaway (NYSE: BRK-B) annual meeting.
Buffett has claimed his place on the Mount Rushmore for investors with mind-blowing returns. Check out the performance of Berkshire versus the S&P 500 from 1964 – 2024.
- S&P 500: 39,054% return
- Berkshire: 5,502,284% return
Buffett will continue as Berkshire’s Chairman. He’s handing over the CEO role to Greg Abel in 2026.
A new CEO at Berkshire could pave the way for changes at America’s 7th most valuable company.
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Who is Greg Abel?
Berkshire acquired a controlling stake in an Iowa utility company called MidAmerica.
Greg Abel was the President of that company. And he played a critical role growing Berkshire Hathaway Energy into one of the country’s biggest utility companies.
Since 2018, Abel has been the Vice Chairman running Berkshire’s non-insurance businesses.
He oversees 189 private businesses including BNSF railroad, utility Berkshire Hathaway Energy, Dairy Queen, Fruit of the Loom, NetJets.
Buffett’s expertise has been as an investor and capital allocator. While Abel’s expertise appears to be more focused on business operations.
Buffett Receives Standing Ovation
Warren Buffett wrapped up the annual meeting to a standing ovation.
The world’s greatest investor leaves Berkshire in a particularly strong financial position. That’s despite the fact that there remains great uncertainty related to trade, tariffs and the global economy.
Berkshire has been reducing its equity holdings recently. Last year the company sold $130 billion of stock – mostly Apple.
Berkshire is currently sitting on $333 billion in cash and U.S. Treasuries – approximately 30% of its market value.
That outperformance continues in 2025. YTD Berkshire was up 19% – versus a 3% decline for the S&P 500.
Berkshire shares closed at an all-time high last Friday. Shares were down 6% this morning after Buffett’s retirement announcement.
Today’s decline reflects a little near-term uncertainty regarding the transition at Berkshire.
I’ve been a long-term shareholder of Berkshire. Everyone knows that Buffett – 94 years-old – would be exiting the business soon. So, this news should hardly be viewed as a surprise.
However, there remain questions about what’s next for Berkshire. One question is how the new CEO will handle important capital allocation decisions such as acquisitions, stock buybacks and dividends.
Warren Buffett loves BUYING dividend stocks. However, Berkshire itself has never paid a dividend.
Will that change with Greg Abel as the CEO of Berkshire? Check your email tomorrow morning.
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