The multimillionaire businessman Warren Buffett He announced that he plans to resign from his position as CEO of the Berkshire Hathaway conglomerate, after 60 years of being in charge of the company that made him an example of American success and in Investment icon.
In the announcement made during the Annual Investor Meeting of the Business Group, Buffett, 94, made it clear that You will not sell a single action of your company, which went from being a textile company in trouble in 1965 to a business conglomerate with a stock market capitalization of 1.15 billion dollars in 2024.
The tycoon, known for its “technique” of taking advantage of the crisis to make new businesses and investments, He will ask the board of directors to designate the president and executive director of Berkshire Hathaway Energy, Greg Abel, as his successor.
Buffett stressed that the decision to conserve all conglomerate actions is an economic decision “because I think Berkshire’s perspectives will be better under the management of Greg (Abel) than under mine.”
“The time may come when we have the opportunity to invest a lot of money. When that time comes, I think it can be useful for the Board of Directors, the fact that they know that I have all my money in the company, And I think it is intelligent, and see what Greg has done, ”said the wealthy philanthropist.
Some of the best known companies that are part of Berkshire Hathaway include Geico, Duracell, Dairy Queen, underwear Fruit of the Loom, inter alia. In addition, Buffett also has significant participations in American Express, Bank of America, y Chevron.
“The Oracle of Omaha”
Buffett’s story, born in Omaha (Nebraska), has become an example of American success, so much so that It is known as “the Oracle of Omaha” for its ability to invest in the long term and its opinions are the most respected in the world of investors.
Therefore, one of the most anticipated issues by investors was what Buffett had about the president’s tariff policy Donald Trumpwhich has not stopped occupying headlines, generating controversies and having an impact on the bag. And although he did not directly mention the US president, the businessman told the audience that “Commerce should not be a weapon.”
The businessman businessman, considered the fifth richest man in the world According to Forbes magazine, he said that USA should be looking to trade with the rest of the world.
“We should do what we do better,” he said.
“It is a big mistake, in my opinion, having seven thousand five hundred million people who do not appreciate you much and 300 million who, in some way, boast of how well they have gone,” said Buffett.
According to a Berkshire report, distributed prior to the start of the meeting, the tariffs of President Trump and other geopolitical risks created an uncertain environment for the conglomerate, with its wide range of insurance, transport, energy, retail trade and other businesses, but cannot predict any potential impact at this time.
“Our periodic operational results can be affected in future periods due to the impacts of ongoing macroeconomic and geopolitical events, as well as for changes in specific factors or events of the industry or company,” says the report
Investors also took the opportunity to ask about the expense of expenses and the government efficiency department created by Trump in this second four -year period.
The billionaire assured that Controlling the government budget deficit is a problem that “is never completely solved.”
“We currently operate with an unsustainable fiscal deficit for a very prolonged period. We do not know if it is two years or twenty because there has never been a country like the United States, but This is something that cannot last forever ”said the famous investor.
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