The 94-year-old had been speaking at the company's annual shareholder meeting in Omaha, Nebraska, when he made the announcement.
The veteran investor known as the Sage of Omaha told his company's annual meeting that he would hand over the reins to Vice-Chairman Greg Abel.
Buffett said he would still hang around with company.
Buffett said he would still hang around with company.
The ‘Oracle of Omaha’ announces plans to retire from his sprawling conglomerate at annual meeting
Buffett pointed out that there's been three occasions under his leadership where Berkshire Hathaway stock has declined 50%.
Buffett pointed out that there's been three occasions under his leadership where Berkshire Hathaway stock has declined 50%.
Warren Buffett's Berkshire Hathaway reported first-quarter results on Saturday that showed a steep drop in earnings from the year-earlier period.
Warren Buffett's Berkshire Hathaway reported first-quarter results on Saturday that showed a steep drop in earnings from the year-earlier period.
This year's Omaha gathering comes after President Trump launched a global trade war, intensifying political tensions between the U.S. and other nations.