5th Richest Man in World – Warren Buffett Decides to Retire, Know Who will be his Successor
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The 5th richest man in the world – Warren Buffett has decided to retire at the end of 2025, ending a remarkable 60-year journey at the helm of Berkshire Hathaway. The 94-year-old billionaire made the surprise announcement in front of thousands of shareholders on Saturday during the company’s annual meeting.
Warren Edward Buffett is an American investor and philanthropist who currently serves as the chairman and CEO of the conglomerate holding company Berkshire Hathaway. As a result of his investment success, Buffett is one of the best-known investors in the world. According to Forbes, as of May 2025, Buffett’s estimated net worth stood at US$168.2 billion, making him the fifth-richest individual in the world.
Berkshire Hathaway Inc. is a multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. The company owns a diverse range of businesses, engaged in activities spanning insurance, freight rail transportation, energy generation and distribution, manufacturing, retailing, and services.
Warren Buffett, often referred to as the “Oracle of Omaha,” is widely regarded as one of the most successful investors in history. Born on August 30, 1930, in Omaha, Nebraska, Buffett demonstrated an early interest in business and investing, purchasing his first stock at the age of 11. Buffett’s father, Howard Buffett, was a stockbroker and U.S. congressman, which exposed Warren to the world of finance from a young age. Click here to read more news
Who will be the next successor of Warren Buffett?
Buffett, often called the “Oracle of Omaha,” revealed that he will recommend Greg Abel, the company’s vice chairman, as his official successor to take over as CEO.
“I think the time has arrived where Greg should become the chief executive officer of the company at year end,” Buffett said.
Though Abel had long been expected to succeed Buffett someday, most people believed that day would only come after Buffett’s passing. Until now, Buffett had insisted he had no plans to retire.
Buffett dropped the bombshell after a five-hour Q&A session, without opening the floor for any follow-up questions. Only two board members – his children, Howard and Susie Buffett – knew in advance. Even Greg Abel, sitting beside Buffett on stage, was unaware of the plan until the moment it was shared publicly. Click here to read more news
Gregory Edward Abel (born June 1, 1962) is a Canadian businessman, chairman and CEO of Berkshire Hathaway Energy, and vice-chairman of non-insurance operations of Berkshire Hathaway since January 2018. On May 3, 2025, it was announced that he will become the successor to Warren Buffett as the Chief Executive Officer of Berkshire Hathaway.
Top 10 Richest People in World in 2025
| Rank | Name | Net Worth | Age | Country/Territory | Source of Wealth | Industry |
|---|---|---|---|---|---|---|
| 1 | Elon Musk | $342 B | 53 | United States | Tesla, SpaceX | Automotive |
| 2 | Mark Zuckerberg | $216 B | 40 | United States | Technology | |
| 3 | Jeff Bezos | $215 B | 61 | United States | Amazon | Technology |
| 4 | Larry Ellison | $192 B | 80 | United States | Oracle | Technology |
| 5 | Bernard Arnault & family | $178 B | 76 | France | LVMH | Fashion & Retail |
| 6 | Warren Buffett | $154 B | 94 | United States | Berkshire Hathaway | Finance & Investments |
| 7 | Larry Page | $144 B | 52 | United States | Technology | |
| 8 | Sergey Brin | $138 B | 51 | United States | Technology | |
| 9 | Amancio Ortega | $124 B | 89 | Spain | Zara | Fashion & Retail |
| 10 | Steve Ballmer | $118 B | 69 | United States | Microsoft | Technology |
