Warren Buffett, a lifestyle icon of global investors, has officially announced that he will leave the CEO position at Berkshire Hathaway at the end of 2025, concluding a journey of more than 6 decades of operating one of the world's largest economic groups.
At the age of 94, the "Oraham tien tri" still maintains a calm voice, a simple smile and a constant Coca-Cola glass. But the news that he is about to retire at Berkshire Hathaway's 60th Annual General Meeting of Shareholders on March 3 still choked up tens of thousands of investors present at the "Woodstock of Capitalism".
Buffett started when he bought a textile company that was on the brink of bankruptcy in the 1960s for $1 and turned Berkshire Hathaway into an empire with a capitalization of more than $1 trillion - the first US non-tech company to reach this milestone.
Instead of following the temporary investment trend, he is loyal to the "real value" philosophy of teacher Benjamin Graham, placing his trust in sustainable businesses with stable brands and cash flow.
From Coca-Cola, Domino's pizza to insurance companies, railways and oil and gas, Buffett always chooses "investment like getting married - having to love and keep it for a long time", as he once said.
His annual letters to shareholders have become a bedside book for millions of people to learn how to invest with patience and reason, avoiding being influenced by emotions or market storms.
Information about the successor has also been officially announced: Greg Abel - who has been with Berkshire for more than 20 years, currently holding the role of Vice President of Berkshire in charge of non-insurance areas - will take over as CEO. Although it has long been mentioned as an heir, the timing of its officialization has surprised many people, even Abel himself.
"I will still be around somewhere, sometimes giving a little opinion. But the final decision will be for Greg," Buffett said, affirming that the transition of generations has truly arrived.
Buffett's departure comes just two years after his close colleague Charlie Munger - Vice President of Berkshire - passed away at the age of 99. Observers expect Buffett to continue to act as a consultant like Munger did.
"I hope Warren will become a ' Charlie Munger' for Greg Abel" - Director Ron Olson shared.
What makes Buffett admired is not only his investment talent, but also the way he lives. Despite being the world's fifth richest man, he has stayed in the house he bought since 1958, eaten McDonald's breakfast and drank several cans of Coca-Cola every day. He didn't use computers until 1994, and only invested in technology later, even though Apple now accounts for more than 20% of Berkshire's portfolio.
But Buffett is not only an investor, he is also a powerful voice on socio-economic issues. He opposed high- Fees hedge funds, condemned financial leverage, and publicly supported the " Buffett principle" - a tax reform proposal to keep the rich from paying less taxes than normal workers.
In his congress over the weekend, he again showed a vision beyond time by warning that turning trade into a weapon was a strategic mistake. Dont turn trade into war. When the world doesn't like you, but you pat your chest proud, it's not a smart thing to do," Buffett said.
Warren Buffett will withdraw, but his legacy - a legacy of calmness, integrity and belief in long-term value - will remain. In a world of increasingly volatile investment, it will probably be a long time before there will be a "prophet's house" like him.
