Warren Buffett announced his retirement at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska. The 94-year-old billionaire investor also warned that the ongoing U.S.-led trade war would harm the nation’s economy. “Trade should not be a weapon,” Buffett said.
“The United States should be looking to trade with the rest of the world. We should do what we do best, and they should do what they do best.”
#BerkshireAGM l We love ‘forever companies’ like Apple, Coca-Cola, and American Express: Warren Buffett pic.twitter.com/BBKEruFsq6
— ET NOW (@ETNOWlive) May 4, 2025
A very eventful weekend in Omaha, thanks to Warren Buffett and Berkshire Hathaway: https://t.co/jJt0m7oLsC
— Maria Aspan (@mariaaspan) May 3, 2025
Buffett did not mention any political figures by name, but his remarks were seen as a critique of the current administration’s tariff policies. These policies have sparked global trade tensions and market disruptions.
Buffett also announced that he will step down as CEO at the end of the year. He named Greg Abel, long considered his successor, to take over. This announcement earned him a prolonged standing ovation from the audience.
Cathy Seifert, an analyst at CFRA Research, commented, “Buffett has got to be frustrated by what’s going on in Washington, for no other reason than it has injected a degree of uncertainty into his business.”
Berkshire Hathaway reported a significant drop in quarterly profit compared to the previous year.
Buffett’s next chapter begins
The company partly attributed this to the uncertainty caused by tariffs.
It noted that the financial impact of these tariffs on its diverse array of businesses and investments is still uncertain but could have adverse consequences. Buffett has always been a staunch advocate for American prosperity. “The luckiest day in the world is the day I was born.
I was born in the United States,” he said. He framed his opposition to tariffs as not just economic, but also vital for national security and global prosperity. The annual shareholder meeting, known as “Woodstock for Capitalists,” continued its tradition with thousands of attendees visiting exhibit halls displaying Berkshire-owned brands like See’s Candies and Fruit of the Loom.
The event attracted a diverse crowd, from finance professionals to families and retirees. Lorenzo Alaan, a retired physician from The Villages, Florida, summed up the sentiment of many long-time investors: “I told my kids: Do not sell it. You sell your house, your jewelry, don’t sell Berkshire.
It’s for your children and grandchildren.”
Buffett’s departure marks the end of an era, but his legacy and influence will undoubtedly linger, shaping both Berkshire Hathaway and the broader U.S. economy for years to come.
Image Credits: Photo by Maria Teneva on Unsplash
