94 -year -old Warren Buffett surprised investors earlier this month, when he announced at the shareholder meeting of Berkshire Hathaway in Omaha, Nebraska that his career of nearly 60 years was ending as CEOs. Buffett’s successor, 62 -year -old Greg Abel, will be reins on January 1, 2026, although Buffett will continue as the chairman of Berkshire’s board.
Buffett revealed his decision to step down as CEO Last five minutes Five hours of question-answer session. Now, the new details have come to light about why Buffett decided to pass the torch to Abel – and it is to be done with his age.
“How do you know the day you get old?” Buffett told The Wall Street Journal In an interview on Wednesday. “I didn’t really start getting old, for some strange reason, until I was not about 90. But when you start getting old, it becomes – it’s irreversible.”
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Buffett told WSJ that, in the last few years, when he crossed his 90th birthday, he started realizing the effects of his age. He had trouble remembering the names and found it more difficult to read newspapers, which suddenly felt that he had a vague text.
Was buffett Born in Omaha In 1930 and Berkshire Hathaway was controlled, then a textile manufacturer, In 1965 When he was just 34 years old. He became the CEO and president of the company In 1970 And increased to 95 in August.
Warren Buffett, President of Berkshire Hathaway. Photo by Daniel Zuchanic/Wirimage
Buffett told Wsj He never intended to be the CEO of Berkshire for life and was “surprise” how long his term had gone. He also saw that his days were slow, while Abel brought more energy to the table and completed more during a workday.
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Buffett said, “The difference in energy levels and the bus (ebel) had completed how much in the 10-hour day of 10-hour, which I could complete in 10 hours day-the more and more dramatic,” Buffett said. Wsj,
Buffett stated that “so much more effective” was “so effective” in hand-handling the day-to-day operations in Abel Berkshire, in fact, “not to work as a CEO.
Joined Berkshire in 1999 after the Abel firm Acquired Midamerican Energy Holdings, an energy company where he Worked as an executiveIn 2018, Buffett made the vice-president of Abel Berkshire’s non-settlement operation. Shareholder meeting In 2021, Buffett revealed that Abel would succeed him as CEO.
Buffett told Wsj He is planning to work in Berkshire and says that his health is in good condition.
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94 -year -old Warren Buffett surprised investors earlier this month, when he announced at the shareholder meeting of Berkshire Hathaway in Omaha, Nebraska that his career of nearly 60 years was ending as CEOs. Buffett’s successor, 62 -year -old Greg Abel, will be reins on January 1, 2026, although Buffett will continue as the chairman of Berkshire’s board.
Buffett revealed his decision to step down as CEO Last five minutes Five hours of question-answer session. Now, the new details have come to light about why Buffett decided to pass the torch to Abel – and it is to be done with his age.
“How do you know the day you get old?” Buffett told The Wall Street Journal In an interview on Wednesday. “I didn’t really start getting old, for some strange reason, until I was not about 90. But when you start getting old, it becomes – it’s irreversible.”
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