Warren Buffett tells WSJ he stepped aside as CEO after feeling old

Warren Buffett does a walkthrough of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2025. David A. Grogen | CNBC Age isn’t just a number for Warren Buffett after all. The 94-year-old investment legend recently surprised shareholders by announcing his intention to step down as Berkshire Hathaway CEO after an epic 60-year run. The reason behind the decision was the physical effects of aging he has been experiencing, Buffett said in a new interview with The Wall Street Journal. “I didn’t really start getting old, for some strange reason, until I was about 90,” he told the Journal in a phone interview. “But when you start getting old, it does become — it’s irreversible.” The Oracle of Omaha, who turns 95 in August, revealed to the paper that he started to lose his balance occasionally, while experiencing issues remembering someone’s name sometimes. His vision also turned less clear when reading newspapers. It marked an end of an era at Berkshire, which was a failing New England textile mill six decades ago and was transformed into a one-of-a-kind conglomerate with businesses ranging from Geico Insurance to BNSF Railway. Buffett is handing over his reins on a high note as Berkshire shares are near a record high, giving the conglomerate a market cap of nearly $1.2 trillion. Berkshire’s board voted unanimously to make Greg Abel, now vice chairman of non-insurance operations, president and CEO on Jan. 1, 2026, and for Buffett to remain as chairman. Still, Buffett said he remains mentally sharp to make investment decisions when opportunities arise. The value investing icon is known to take advantage of market turmoil and depressed prices to make big purchases. “I don’t have any trouble making decisions about something that I was making decisions on 20 years ago or 40 years ago or 60 years,” he told the Journal. “I will be useful here if there’s a panic in the market because I don’t get fearful when things go down in price or everybody else gets scared. ... And that really isn’t a function of age.” Click here to read the original WSJ story. Don’t miss these insights from CNBC PRO Source: https://www.cnbc.com/2025/05/14/warren-buffett-tells-wsj-he-stepped-aside-as-ceo-after-finally-feeling-old.html