'Oracle of Omaha' Warren Buffett to step down as Berkshire Hathaway CEO
The billionaire investor to hand over leadership to Greg Abel after decades of remarkable success
Chetan R @ vēritās news desk 
Warren Buffett, aged 94, is retiring as the chief executive of Berkshire Hathaway by the end of this year.
He has led the company for decades, turning it from a struggling textile business into one of the most valuable firms in the world, worth over $1.16 trillion.
At the company’s annual meeting in Omaha, he announced that Greg Abel, the vice-chairman, will take over as CEO. Abel has been Buffett’s chosen successor for several years, though the timing of the announcement surprised many, including Abel himself.
Buffett’s long career in investing has made him one of the world’s richest people, with a net worth of $154 billion. He is known for his simple lifestyle and generous donations to charity.
Even after stepping down, Buffett plans to keep his shares in Berkshire Hathaway and will eventually give them away. The company owns over 60 businesses and holds major investments in firms like Apple, Coca-Cola etc.
Business leaders, including Apple’s Tim Cook, praised Buffett’s leadership and legacy. Buffett also used the meeting to criticize the use of trade barriers, calling for better global cooperation.
