Super investor Warren Buffett (94) will stop at his investment company Berkshire Hathaway

Warren Buffett, the super investor with the nickname the ‘Oracle of Omaha’, will stop. During a shareholders’ meeting of his investment company Berkshire Hathaway in Oma, Nebraska, the 94-year-old Buffett unexpectedly announced his departure on Saturday. At the end of the year, Greg Abel, who already leads the non-insurance activities of Berkshire, will take over it from him.

Buffett announced the news at the end of a five -hour question session, writes AP news agency. However, he refused to answer questions about his departure. The only board members who knew about his decision were his children, Buffett said. Even Abel was not prepared for the announcement. And although Buffett made it clear earlier that Abel would become his successor, it was assumed that Abel would only take over the role of Buffett after his death.

In 2023 Buffetts partner Charlie Munger died at the age of 99. The two had worked together since 1959 and made Berkshire Hathaway developed into one of the most influential investors in the United States. Berkshire Hathaway has according to Forbes 1.1 trillion dollars (more than 973 billion euros) interests in insurance companies, the American energy and transport sector and companies such as Apple, Bank of America and Coca-Cola.

Trade as a weapon

In recent years, Buffett found it difficult to find companies that were worth investing, he wrote last year in a letter at the annual figures of Berkshire. That had to do with the competition from private equity companies, and the size of Berkshire Hathaway: smaller companies had become uninteresting to invest in. « There is only a handful of companies that can make the needle sprout at Berkshire and we have already looked at it endlessly by us and others. »

During the Saturday’s shareholders’ meeting, Buffett also clearly expressed himself against the taxes of Donald Trump, although he did not mention the US president by name. « Trade should not be a weapon, » he said according to The New York Times. « I don’t think it’s good and I don’t think it’s wise. »

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