Core Insights - Berkshire Hathaway shares experienced a decline of 1.5% following the retirement of CEO Warren Buffett after a 60-year tenure, with Greg Abel officially taking over as CEO [1] - In Buffett's final year as CEO, Berkshire Hathaway achieved a gain of 10.9% [1] Leadership Transition - Warren Buffett, aged 95, stepped down as CEO, with Greg Abel, who has been with the company since 2000 and served as vice chairman, succeeding him [1][4] - Buffett expressed confidence in Abel's capabilities, stating he has exceeded expectations and understands the company's operations better than Buffett himself [5][7] - Buffett has been preparing Abel for this role for several years, indicating that the board was in agreement about Abel's succession [7][9] Company Performance and Value - Berkshire Hathaway is now valued at over $1 trillion, a significant increase from its origins as a failing textile company in 1965 [10] - Warren Buffett's personal net worth is reported to be over $168 billion, despite his modest lifestyle [10]
Berkshire Hathaway shares drop as Warren Buffett era ends after 60 years as CEO with Greg Abel taking over
Fox Business·2026-01-02 21:51