Warren Buffett, the billionaire investor and CEO of Berkshire Hathaway, announced his retirement at the company’s annual shareholder meeting.
The 94-year-old business magnate also warned about the potential negative effects of the ongoing trade war on the U.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.”
His comments seemed to criticize the Trump administration’s recent tariffs, which have disrupted global markets. Many attendees had been waiting to hear Buffett’s opinion on the issue.
The announcement was met with a long-standing ovation. He named Greg Abel his successor. “The enthusiasm from that response can be interpreted in two ways,” Buffett joked as he left the stage.
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Watch the full interview here: https://t.co/mS8ApyF1N9#BerkshireHathaway #WarrenBuffett @safalniveshak @nikunjdalmia pic.twitter.com/voXhIHJg9N
— ET NOW (@ETNOWlive) May 5, 2025
Analysts think Buffett has been frustrated by the uncertainty in business environments caused by policies from Washington. This frustration was also seen in the company’s latest financial disclosures. They showed a sharp drop in quarterly profit and warned of the unpredictable impact of tariffs on its various businesses and investments.
A very eventful weekend in Omaha, thanks to Warren Buffett and Berkshire Hathaway: https://t.co/jJt0m7oLsC
— Maria Aspan (@mariaaspan) May 3, 2025
Buffett acquired Berkshire Hathaway in 1965. Since then, it has become a conglomerate interested in insurance, railroads, Dairy Queen, Duracell, and more.
It also has major stakes in Coca-Cola, Apple, and American Express. At the meeting, Buffett attributed his opposition to tariffs to patriotism and highlighted his belief that America’s prosperity is connected to global prosperity.
Here’s why there will never be another Warren Buffett: Buffett’s combination of intense personal discipline, historical timing, and structural freedom cannot be reproduced. Since 1987, Berkshire shares have gained 27,809% in value, while S&P 500 has only gained 4,838%.… pic.twitter.com/GCloCUnJFS
— Holger Zschaepitz (@Schuldensuehner) May 4, 2025
Buffett announces retirement from Berkshire
“The more prosperous the rest of the world becomes, the more prosperous we’ll become, and the safer we’ll feel and your children will feel someday,” he said, drawing more applause. The annual meeting featured a unique mix of fan convention, quasi-religious revival, and shopping extravaganza. Tens of thousands of visitors engaged with Berkshire-owned brands.
Many left with bags full of See’s Candies, Fruit of the Loom underwear, and “Squishmallow” plush toys modeled after Buffett and his late business partner, Charlie Munger. “I told my kids: Do not sell it,” said Lorenzo Alaan, a retired physician from Florida, emphasizing the long-term value he sees in Berkshire shares. Buffett’s departure marks the end of an era for Berkshire Hathaway.
However, his legacy and influence on American business are expected to endure.
Image Credits: Photo by Alexander Pemberton on Unsplash
