Warren Buffett Gets Emotional Send-Off With 10-Min Ovation: Watch Goosebump Video

SOURCE : NEW18 NEWS

Last Updated:May 04, 2025, 13:26 IST

Warren Buffett will retire, naming Greg Abel as Berkshire Hathaway’s CEO. The surprise announcement led to a 10-minute standing ovation at the shareholders meeting.

Warren Buffett received a 10-minute long standing ovation after he announced his retirement plan to pass the baton of Berkshire Hathaway CEO to Greg Abel by the end of 2025. It was a shock announcement of investors as well as none had any inkling regarding the announcement except his two children. Neither Abel was told beforehand for being considered as the next successor of Berkshire Hathaway.

In a surprising move that concluded a nearly five-hour Q&A session at Berkshire Hathaway’s annual shareholders meeting in Omaha on Saturday, Buffett said that Greg Abel will succeed him as the next CEO of Berkshire Hathaway.

“I think the time has arrived where Greg (Abel) should become the chief executive officer of the company at year end,” said the 94-year-old Buffett, who made the announcement without taking any questions and revealed that only two board members—his children Howard and Susie Buffett—were informed beforehand.

Once Buffett announced his plan, each person of the audience stood up including Greg Abel in admiration of his six-decade long career turning Hathaway into a multi-billion dollar investment firm.

Watch Buffett’s 10-Minute Standing Ovation Video

Gregory E. Abel, 62, joined Berkshire Hathaway’s Board of Directors in January 2018 as vice chair for non-insurance operations. Abel was confirmed as Buffett’s successor in 2021 after former Vice Chairman Charlie Munger unintentionally revealed the information at the annual meeting. Since then, Abel has mostly operated behind the scenes, although shareholders have gotten to know him during annual meetings and interviews alongside Buffett.

First Published:

May 04, 2025, 13:26 IST