Warren Buffett is stepping down as chairman of Berkshire Hathaway Inc., ending roughly six decades at the helm of the conglomerate, with his son Howard set to replace him. Buffett, who is 96, will become chairman emeritus, while Greg Abel, long the company's operational leader, continues running the business day to day. Bloomberg Intelligence Senior P&C Insurance Analyst Matt Palazola said the market may be waiting for a change in capital management strategy, such as a dividend, though Abel has already said he is not a big fan of Berkshire paying one. According to Barron's, $10,000 invested in Berkshire Hathaway in 1965, when Buffett took over, would have been worth about 550 million by the end of 2024. Palazola called Buffett the greatest investor of all time but said many people contributed to Berkshire's success, noting recent moves including buying a group of Japan trading houses, selling some Apple shares and trimming Bank of America.
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Applovin CorpBerkshire Hathaway IncBuffett steps down as chairman with son Howard succeeding and Abel continuing to run operations; leadership transition with no clear directional driver.
