Overview

• Warren Buffett, 94, announced his retirement as CEO of Berkshire Hathaway, effective at the end of 2025, during the annual shareholder meeting in Omaha.
• Greg Abel, currently vice chairman overseeing non-insurance operations, has been endorsed by Buffett as his successor to lead the $1 trillion conglomerate.
• Buffett downplayed recent U.S. stock market volatility, framing it as insignificant and emphasizing that downturns often present buying opportunities.
• He criticized the use of trade tariffs as economic weapons, warning that such policies could harm global prosperity and U.S. relations with other countries.
• Berkshire Hathaway reported a 14% drop in Q1 operating earnings, with $9.64 billion in profits and over $700 million in currency losses, while maintaining over $300 billion in liquid assets.