Warren Buffett announced he will step down as CEO of Berkshire Hathaway by the end of 2025. He expects the company’s board to endorse Greg Abel, the vice chairman, as his successor. Buffett intends to remain involved in an advisory capacity.
Berkshire Hathaway currently holds roughly 348 billion USD in cash reserves. Although historically outperforming the S&P 500, its stock has lagged behind Bitcoin, which has gained over 781% since 2020.
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