Warren Buffett (94) says goodbye as CEO of Berkshire Hathaway

After decades at the top, one of the most influential investors in the world says goodbye. Warren Buffett-the model of patience, vision and unparalleled success-resigns at the age of 94 as CEO of Berkshire Hathaway. This puts an end to an era that has changed the financial world forever. What does his departure mean for the billion -dollar company that he has built up himself?

Buffett surprised with farewell

Buffett announced his decision during the annual shareholders’ meeting, to the great surprise of many. Thousands of those present first responded in disbelief, but then broke out in a thunderous applause. His message was clear: Greg Abel, his intended successor for years, will officially take over the lead at the end of this year.

The timing came unexpectedly. Buffett had always emphasized that he had not finished investing – he simply thought it was “too nice” to stop. Only his children, Howie and Susie, who both have a seat on the Berkshire board, were aware of his decision in advance.

From newspaper boy to billionaire

Buffett is living proof that starting early pays off. Already at the age of eleven he bought his first shares: three pieces from Cities Service, for $ 38 each. He quickly sold them with a small profit, but then saw the price rise considerably – a valuable lesson in patience that would stay with him throughout his life.

By the time he was seventeen, he had already saved around $ 5,000 – a considerable amount for that time. He earned that money with the delivery of newspapers, renting out pinball machines and setting up small businesses. After his studies at Benjamin Graham, among others, the founder of the Value Investing, he focused Buffett Partnership Ltd in 1956. on. With that he laid the foundation for what would later grow into Berkshire Hathaway.

An empire of investments

In the decades that followed, Buffett built an investment empire step by step. By investing strategically in Coca-Cola, American Express and later also Apple, Berkshire Hathaway grew into one of the most valuable companies in the world.

According to data from company market cap, Berkshire is worth around $ 1.16 trillion today. This makes the company one of the absolute world top – and Buffett itself remains one of the richest people on earth.