Warren Buffett, one of the most iconic investors in American history, announced his decision to step down as CEO of Berkshire Hathaway. The news came as a surprise to many at the company’s annual shareholder meeting on May 3, 2025. Buffett, now 94, won’t fully retire—he’ll remain chairman while Greg Abel prepares to take over as CEO and president next year.
A Special Bond with Apple
Buffett’s relationship with Apple has been especially significant. Though he never created a product himself, he believed deeply in investing in those who do. This philosophy led him to support Apple, where he found not only strong financial returns but also a deep respect for CEO Tim Cook. Buffett frequently praised Cook, calling him a “fantastic manager,” even after selling off portions of Berkshire’s Apple stock—a move he once admitted may have been a mistake.
Cook’s Heartfelt Tribute
Tim Cook responded to Buffett’s announcement with high praise. In a social media post, Cook said, “There’s never been someone like Warren… It’s been one of the great privileges of my life to know him.” He also expressed confidence in Greg Abel’s leadership, reflecting Buffett’s positive influence on Apple’s management and long-term vision.
Market Response and Legacy
Following the announcement, Berkshire Hathaway’s stock dipped slightly by 2%, a small shift considering the scale of the company. Buffett’s departure marks the end of a historic era. His influence will continue through the leaders he’s mentored and the investments he championed, like Apple. With Cook and Abel at the helm of their respective companies, Buffett’s legacy of trust, long-term thinking, and belief in people is set to endure.
