Warren Buffett, the 94-year-old billionaire, has announced his plans to step down as CEO of Berkshire Hathaway after decades of leading the firm. His news drew a response from numerous business figures this past Saturday.
Tim Cook, CEO of Apple, expressed his admiration on X, stating, “No one like Warren has ever been like him. Countless people, including myself, were inspired by his wisdom.” Buffett has named Greg Abel, the company’s vice president, as his successor.
During Berkshire’s annual shareholders meeting in Omaha, Nebraska, Buffett mentioned, “I think it’s time for Greg to become the company’s CEO at the end of the year.”
In a separate point, he criticized the use of trade as a weapon, particularly in relation to Trump’s tariff strategies.
Buffett shared with CNBC that after resigning, he plans to “wander around” Berkshire. Following his announcement, the crowd gave him a standing ovation that lasted several minutes, honoring his extensive contributions to the company.
Jim Cramer, host of CNBC’s “Mad Money,” also commented on the news via X, while billionaire Mark Cuban posted a video capturing the applause Buffett received.
Spencer Hakimian, founder of Tolou Capital Management, echoed Cuban’s sentiments, writing, “Warren Buffett received 10 minutes of long-standing applause after announcing his retirement. Curtain call to the captain.”
French Hill, a 68-year-old representative from Arkansas, shared his long-standing admiration for Buffett, describing him as “my hero since I was in college.” Hill has been attending Berkshire meetings since the early 1990s and remarked, “When I left the government in 1993 and returned to the private sector of investment management, my knowledgeable role model was Warren Buffett.”
