Warren Buffett, the billionaire investor and CEO of Berkshire Hathaway, announced his retirement at the company’s annual shareholder meeting on Saturday. The 94-year-old also spoke out against the ongoing trade war, which he believes will hurt the U.S. economy. “Trade should not be a weapon,” Buffett stated.
He urged the United States to engage in global trade by focusing on its strengths and allowing other countries to do the same. His comments were widely seen as a critique of President Trump’s aggressive tariff policies, which have sparked a global trade war and caused market volatility. Buffett’s successor, Greg Abel, will take over as CEO, a decision that was met with a standing ovation from the thousands in attendance at Omaha’s CHI Health Center.
The annual meeting highlighted the frustration shared by many business leaders over the uncertainty caused by the trade dispute.
Buffett’s longevity and global trade
Cathy Seifert, an analyst at CFRA Research, noted that Buffett’s frustration mirrors the sentiment of many in the business community who are dealing with the unpredictable economic landscape.
Buffett also used his platform to advocate for a more interconnected global economy, arguing that increased prosperity worldwide would lead to greater prosperity and security for the United States. “The luckiest day in the world is the day I was born. I was born in the United States,” he said, reiterating his belief in the benefits of global trade.
The shareholder meeting, a mix of fan convention and commercial expo, drew nearly 20,000 visitors to the exhibit hall filled with Berkshire-owned brand displays. Attendees left with bags full of merchandise like See’s Candies and plush “Squishmallow” toys, showing the event’s unique blend of commerce and celebration. Buffett’s upcoming departure marks the end of an era for Berkshire Hathaway, but his legacy, known for his investment skill and support for American values, will continue to influence the company and the wider economic landscape.
