Buffett Bows Out, Blasts Trump’s Tariffs at Shareholder Sendoff [WATCH]

Warren Buffett, the longtime CEO of Berkshire Hathaway, announced during the company’s annual shareholder meeting that he plans to step down from his role by the end of the year.

The 94-year-old investor and business icon endorsed current Chairperson Greg Abel as his successor, stating he has full confidence in Abel’s leadership.

Buffett told shareholders that while he is stepping away from day-to-day management, he has no intention of selling his significant stake in the company.

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“I have not sold a share of Berkshire, and I will not be selling a share of Berkshire,” Buffett said.

Warren Buffett will step down as CEO of Berkshire Hathaway at the end of 2025.

What a run. pic.twitter.com/6xKZqwTcEP

— Brew Markets (@brewmarkets) May 3, 2025

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The announcement was met with extended applause from those attending the meeting, many of whom had traveled to Omaha for what is often referred to as the “Woodstock for Capitalists.”

Warren Buffett receives a standing ovation from a sold-out arena as he announces he will be stepping down from CEO at Berkshire Hathaway.

Buffett has been CEO for 55 years, making him the longest-serving CEO of any S&P 500 company.

Truly incredible. pic.twitter.com/EZd25RR3is

— The Kobeissi Letter (@KobeissiLetter) May 3, 2025

The transition announcement was not the only headline generated at Saturday’s meeting.

Buffett took time to address U.S. trade policy, offering pointed criticism of President Donald Trump’s tariffs, which have been at the center of recent global trade tensions.

“It’s a big mistake in my view when you have 7.5 billion people who don’t like you very well, and you have 300 million who are crowing about how they have done,” Buffett said, referring to Trump’s use of tariffs as a tool in foreign policy.

“We 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.”

“trade should not be a weapon..big mistake in my view when you have 7.5b people who don’t like you & you got 300mm who are crowing in some way about how well they’ve done..
more prosperous the rest of the world becomes, it won’t be at our expense, the more prosperous we’ll become pic.twitter.com/3HBIeLZDie

— Dan Tsubouchi (@Energy_Tidbits) May 3, 2025

Buffett noted that while he supports balanced trade, he does not believe using tariffs is the right approach.

He added that encouraging prosperity in other nations makes the world a safer place.

During the meeting, Buffett also addressed recent stock market volatility that followed the Trump administration’s announcement of new tariffs last month.

Markets responded with a downturn, but Buffett downplayed the severity of the drop.

“This is really nothing,” he said, referencing previous significant downturns.

He recalled three occasions in the past six decades when Berkshire Hathaway’s stock value was cut in half.

To provide further historical perspective, Buffett cited the Dow Jones Industrial Average’s drop from 240 at the time of his birth in 1930 to just 41 during the Great Depression.

Currently, the Dow Jones sits at 41,317.43—marking a dramatic climb from the lows Buffett witnessed during his youth.

Buffett’s retirement marks the end of a decades-long era at Berkshire Hathaway.

He took control of the company in the 1960s and grew it into a multinational conglomerate with holdings in insurance, railroads, energy, and consumer goods.

Known as the “Oracle of Omaha,” Buffett’s value-based investing principles and steady leadership have earned him respect across financial sectors.

The selection of Greg Abel, who currently oversees all non-insurance businesses at Berkshire, has long been expected.

Buffett had previously confirmed Abel as the likely successor in past interviews.

Berkshire Hathaway shareholders will now look to Abel to continue the company’s trajectory in a shifting global market.

As Buffett transitions out of his leadership role, his influence will remain through both his holdings and the corporate culture he shaped over six decades.

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