Berkshire Hathaway’s Warren Buffett to Step Down as CEO — And Other Meeting Takeaways

After 60 years at the helm of the now-giant conglomerate, the Oracle of Omaha has decided it’s time to step down (but not out).

📢 Buffett to Step Down as Berkshire CEO

• It’s official — after years of speculation who will be the next boss of Berkshire Hathaway BRK.A, the boss himself unveiled the news.
• At Berkshire Hathaway’s 2025 annual shareholders' meeting this past weekend, Warren Buffett announced that he’ll step down as CEO by the end of the year — with Vice Chairman Greg Abel set to take over. “He would be the chief executive, period,” Buffett said of Abel.
• Buffett, 94, made it clear he’s not heading for the exit: he’ll remain chairman and has “no intention of selling a single Berkshire share”.

🧐 “Trade Shouldn’t Be Used as a Weapon”

• When CNBC’s Becky Quick asked about the one topic that flooded her inbox the most — tariffs — Buffett didn’t hold back. “Trade can be an act of war,” he said bluntly, adding that the US has taken a turn he’s uncomfortable with.
• “We should be looking to trade with the rest of the world, and we should do what we do best,” Buffett said, clearly pushing back against the tariff-first rhetoric dominating Washington under President Trump. His comments come as market volatility and investor anxiety over trade policy remain sky high.

🛒 No Shopping Spree for Berkshire

• Despite the wild swings in April — the S&P 500 lost over 15% early in the month before clawing back — Buffett wasn’t opening the checkbook for fresh deals.
• Berkshire sold stocks for the tenth quarter in a row last quarter with a total of $4.7 billion in sales. The company purchased stocks worth $3.2 billion. Cash reserves swell to a whopping $348 billion.
• “This has not been a dramatic bear market or anything of the sort,” he said, downplaying the idea that April’s dip was a once-in-a-generation bargain hunt. Berkshire’s $348 billion cash hoard remains largely untouched, though Buffett did mention that he and Abel had considered a $10 billion buyout, but opted against it.