Warren Buffett Retires as Berkshire Hathaway CEO
Billionaire Warren Buffett officially retired as CEO of Berkshire Hathaway on December 31, 2023, after over 50 years in the role, transferring leadership to Greg Abel. Under Buffett’s tenure, Berkshire’s Class A shares saw a nearly 6,100,000% appreciation, vastly outperforming the S&P 500.
Since mid-July 2018, Buffett and Abel have spent approximately $78 billion on stock buybacks, significantly decreasing the outstanding share count by 12.6%. This strategy aims to enhance earnings per share and attract long-term investors, continuing the investing ethos that Buffett established.
As of March 2024, Berkshire Hathaway’s portfolio includes major stakes in companies like Apple and Chevron, with those positions totaling over $123 billion. The recent buyback activity underlines Abel’s commitment to Buffett’s legacy while adapting to current market conditions.
