Berkshire Hathaway stock tumbled Monday after Warren Buffett announced he will step down as CEO at the end of 2025, according to Barron's. Class A shares closed down 4.9%, while Class B dropped 5.1%. The board approved Greg Abel, a longtime executive, as the incoming CEO, and Buffett will remain chairman and said he’ll serve as an advisor starting in 2026. Some investors expressed concern about the company’s long-term valuation without Buffett in charge. Berkshire missed first-quarter earnings estimates and invested little cash, disappointing investors who expected Buffett to act on the market downturn.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Berkshire Hathaway's stock tumbled Monday after Warren Buffett announced he will step down as CEO at the end of 2025, according to Barron's.
00:08Class A shares closed down 4.9%, while Class B dropped 5.1%.
00:13Warren approved Greg Abel, a longtime executive, as the incoming CEO.
00:16And Buffett will remain chairman and said he'll serve as an advisor starting in 2026.
00:21Some investors expressed concern about the company's long-term valuation without Buffett in charge.
00:25Berkshire missed first quarter earnings estimates and invested little cash, disappointing investors who expected Buffett to act on the market downturn.
00:33For all things money, visit Benzinga.com slash GSTV.