Warren Buffett to step down as Berkshire Hathaway CEO by year’s end

By: bitcoin ethereum news|2025/05/04 07:15:01

Warren Buffett, the CEO of publicly traded investment company Berkshire Hathaway, announced at the company’s annual shareholder meeting that he will step down by the end of 2025, and his chosen successor will take over as CEO, pending approval from Berkshire’s board of directors. According to CNBC, Buffett reiterated that Greg Abel, the company’s vice chairman of non-insurance operations, who was previously named by Buffett as his successor, will take over. The Berkshire founder announced: “The time has arrived when Greg should become the Chief executive officer of the company at year-end, and I want to spring that on the directors effectively and give that as my recommendation.” Buffett added that he would stay at the company in an advisory role “but the final word would be what Greg decided,” the CEO said. Buffett’s decision to step down as CEO comes at a time when Berkshire Hathaway is sitting on cash reserves of roughly $348 billion. The legendary stock investor has repeatedly called the growing US national debt unsustainable and issued warnings on the increasingly unstable macroeconomic environment that has taken a toll on the stock market. Related: Galaxy Digital plans Nasdaq listing as crypto stocks post strong rebound Berkshire Hathaway outperforms S&P but is outclassed by Bitcoin Despite being renowned for consistently returning roughly double the average performance of the S&P 500 to investors throughout his career, Buffet has failed to outperform Bitcoin (BTC) and gold. Although Berkshire Hathaway’s class A common stock carries a price tag of over $809,000, and a market cap of over $1 trillion at the time of this writing, shares of the company have massively underperformed against Bitcoin in percentage terms since 2015. Bitcoin has returned gains of over 781% to investors since 2020, while Berkshire Hathaway only returned approximately 150% over the same period. Buffett has long been critical of BTC, arguing that the decentralized, supply-capped, digital currency has no value and likened it to a scam on several occasions. The Berkshire founder and his business partner Charlie Munger have repeatedly said that Bitcoin does not even qualify as an investment and should be avoided by traders. Magazine: Bitcoin in Senegal: Why is this African country using BTC? Source: https://cointelegraph.com/news/warren-buffett-step-down-berkshire-ceo-year-end?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound

A Polymarket user supported nearly half of Trade.xyz's "active addresses" with 34,000 wallets, yet contributed less than 1% of the trading volume. The real support for the market comes from market-making institutions like Jump, Selini, and Wintermute, as well as a group of directional traders crossi...

Binance quietly placed a bet on a leading large model company

In the past year, YZi Labs has significantly accelerated its investments in the AI field, from educational agents to physical robots, and then to large models, with crypto capital and AI technology rapidly integrating.

Best Crypto Discord Server 2026: Why Jacob’s Crypto Clan Is Gaining Massive Attention

Jacob’s Crypto Clan has grown into one of the most active crypto Discord communities, with over 45K members and continuing to expand. This rapid growth reflects strong demand for structured trading insights and real-time collaboration.

Tom Lee Buying ETH: Why Wall Street’s Loudest Ethereum Bull Keeps Doubling Down

Tom Lee keeps buying ETH through every dip, every drawdown, and every moment of market doubt. Inside the strategy that's turning Ethereum into a treasury asset — and what it signals for the rest of the market.

Stripe Sessions 2026: AI Agent, Global Payments, and Invisible Crypto Infrastructure

Stablecoins have finally begun to enter the real business world, but this time, the main character may not be exchanges, wallets, or public chains, but Stripe. It encapsulates KYC, wallets, gas, compliance, and settlement, allowing businesses to access on-chain assets just like using regular payment...

Where will South Korea's cryptocurrency taxation head?

There is little time left before South Korea implements cryptocurrency taxation, but the current tax laws only cover simple spot and currency-to-currency transactions. Driven by the international tax information exchange standard (CARF), South Korea is comprehensively building an intelligence analys...

Legendary investor Naval: Apple is dead, SaaS will follow suit, and entrepreneurs have 18 months to reshape their moats

"You can continue to hold Apple stock. Just don't expect that what you hold is stock in a growth company."

Morning Report | Visa includes Polygon in its global stablecoin settlement program; MoonPay invests $100 million to acquire security company Sodot; Digital wallet platform Belo completes $14 million Series A financing

Overview of Important Market Events on April 29

Full text of the Federal Reserve's decision: Holding steady for the third consecutive time but increasing divisions

The Federal Reserve has kept interest rates unchanged for the third consecutive time, but there were internal voting disagreements, with one official advocating for a rate cut while three others opposed signaling easing. The situation in the Middle East and fluctuations in energy prices further ampl...