Warren Buffett retires: the financier leaves Berkshire Hathaway after 60 years

An era is coming to an end for American and global finance. Warren Buffettone of the richest men in the world (sixth Forbes in 2025) and investment wizard, leaves the leadership of his holding company after sixty years of activity Berkshire Hathaway. He will take his place Greg Abel. Nicknamed the oracle of Omaha – named after his home town of Nebraska – Buffett is the son of a congressman and began his investing career very early, at 11 years old, when he bought his first shares.

Among the financier’s most successful investments are Berkshire itself, purchased in 1965 when it was a textile company in difficulty. At the time his shares were worth 19 dollars, now the class A shares (those that provide the most voting rights) are worth 750,000. His holding is worth more than 1,000 billion and it is the only one of the “old–economy” to overcome this threshold by sitting at the table of the Big Hi-tech giants. Buffett also has interests in Coca-Cola, Apple and BYD. The bets on, however, are less fortunate USAir and Solomon Brother. In 2008 the financier invested, albeit symbolically, in Bank of America e Goldman Sachs to give them a hand to get out of the crisis. Buffett’s investments and opinions are in fact always perceived as an injection of confidence for the markets.

It is not yet clear how Abel intends to collect theinheritance and what he will decide to do with the company and its shares. Buffet renewed his full trust in him by reassuring investors by saying that the company will retain a “significant amount” of shares of Class A until everyone is comfortable with their new boss. “A level of trust which I don’t think will take long to achieve,” said the 95-year-old optimistically high price for his retirement, however, it could be his hometown of Omaha, where Buffett lives and where he has spent almost his entire life. The place has become – thanks to its presence – a destination for tourists and every year hosts its shareholders’ meeting which also attracts thousands of investors, lasts two days and brings earnings not insignificant in the city coffers.