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Warren Buffett Announces He’s Stepping Down As Berkshire Hathaway CEO
After 55 years, Warren Buffett is stepping down as CEO of Berkshire Hathaway, announcing his departure on Saturday.
Warren Buffett speaks onstage during Fortune's Most Powerful Women Summit on Oct. 13, 2015 in Washington, DC.Paul Morigi/Getty Images for Fortune/Time Inc The 94-year old multibillionaire dropped the bombshell during the conclusion of his remarks at his annual shareholder meeting in Omaha, noting that he will resign at the end of the year, upon which Greg Abel will succeed him after being groomed for the role since 2021. Buffett plans to keep his $160 billion in shares and “hang around” and “be helpful” with the conglomerate, which he bought as a textile mill in 1965, explaining that he thinks “the prospects of Berkshire will be better” under Abel’s Trump has announced major tariffs for every country around the world, before pausing them for 90 days to pursue separate trade deals with nation.
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