BIG News In The World Of Finance

Latest BIG News:

"Warren Buffett to step down from Berkshire Hathaway after six decades" Financial Times

"Buffett to step down from Berkshire Hathaway at Year-End" Bloomberg.com

"Warren Buffett to step down from Berkshire at year’s end, Greg Abel to succeed Oracle of Omaha" CNN

Futher, BusinessInsider.com explains:

The legendary investor and Berkshire Hathaway boss made the surprise announcement in the closing minutes of a nearly five-hour-long Q&A on Saturday at his company's annual meeting in Omaha.

The packed stadium was stunned into silence. The longest-serving S&P 500 CEO, who took the top job in 1970 and built Berkshire from a failing textile company into a $1 trillion company known around the world, was stepping down.

It seemed as if Buffett, who is 94, might continue for a few more years still, given how mentally sharp he seemed throughout the morning as he fielded questions about everything from tariffs and Berkshire's huge cash pile to government spending and life advice.

He revealed that he had informed neither Berkshire's board, apart from two of his three children who are directors, nor his planned successor sitting next to him, Greg Abel.

Once Buffett finished speaking, the crowd leapt to its feet to deliver thunderous applause for a man who has meant so much to so many of them.

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