Warren Buffett, at age 94, announced his intention to retire as CEO of Berkshire Hathaway by the end of 2025, naming Greg Abel as his successor. During the company’s annual meeting, Buffett also criticized President Donald Trump’s tariff policies, warning of global consequences. Despite market concerns, Buffett remains optimistic about America’s future and Berkshire’s stability.
Buffett Shocks Shareholders With Retirement Announcement
Warren Buffett surprised tens of thousands of attendees at the Berkshire Hathaway annual shareholder meeting on Saturday, May 3, 2025, by announcing his plans to retire at the end of the year. Buffett stated he would recommend Vice Chairman Greg Abel as his successor to lead the company.
Buffett has historically resisted retirement, expressing his love for investing and managing Berkshire’s future. This marks a significant transition after Buffett’s 60-year tenure as the company’s figurehead.
Buffett Cautions Against Trump’s Tariff Policies
In his speech, Buffett addressed President Donald Trump’s trade policies, expressing concern over rising global instability. He emphasized that “trade should not be a weapon” and cautioned that Trump’s widespread tariffs could provoke diplomatic and economic consequences.
“It’s a big mistake… when you have 7.5 billion people who don’t like you very well,” Buffett said, warning that American exceptionalism combined with economic aggression could backfire.
Buffett argued for balanced global trade and said prosperity across nations would lead to a safer world.
Market Volatility Dismissed, No Urgency to Invest
Buffett addressed recent market volatility linked to Trump’s tariff announcements, calling it “nothing” compared to past downturns. Despite holding $347.7 billion in cash, he sees few undervalued opportunities and hasn’t bought back any Berkshire shares this year.
Recalling historical downturns, Buffett stated:
“This has not been a dramatic bear market.”
40,000 Gather as Berkshire Meeting Becomes Buffett’s Likely Farewell
The 2025 meeting, attended by 40,000 people, including celebrities and political figures such as Hillary Clinton, may be Buffett’s final in-person appearance as CEO. Fans like Haibo Liu traveled from as far as China, hoping to see Buffett one last time.
Longtime shareholder Linda Smith recalled her early investment inspired by Buffett’s sister and praised the investor’s impact:
“I really like to listen to Warren Buffett — particularly this year with everything that has happened.”
Smooth Succession Plan: Greg Abel to Lead Berkshire
Buffett reassured shareholders that Greg Abel, who already oversees Berkshire’s non-insurance businesses, is a competent and hands-on leader. Investors like Steven Check expressed confidence in Abel’s ability to maintain Berkshire’s philosophy while introducing a more active management style.
“Abel isn’t going to do anything to turn off Berkshire’s managers,” Check said.
The transition is expected to be stable, given Buffett’s clear succession planning and Berkshire’s decentralized management style.
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