Warren Buffett to step down from Berkshire Hathaway: Report
Share this @internewscast.com

Billionaire investor Warren Buffett, a legendary figure, has revealed his decision to retire from Berkshire Hathaway by the year’s end, earning a resounding ovation from attendees at the company’s yearly shareholder gathering.

Buffett, 94, recommended Berkshire Hathaway Chairperson Greg Abel as his replacement and said he had no plans to sell his stock in the company.

This announcement followed Buffett’s criticism of President Donald Trump’s extensive tariffs, cautioning against the U.S. using “trade as a weapon” and potentially alienating other countries.

Buffett addressed shareholders at the annual meeting, stating, “It’s a significant error, in my opinion, when 7.5 billion people are not particularly fond of you, and your 300 million are boasting about their achievements.”

While it’s best for trade to be balanced between countries, Buffett added he does not believe tariffs are the right way to go about it. He also said the world will be safer if more countries are prosperous.

“We should be looking to trade with the rest of the world,” he said. “We should do what we do best, and they should do what they do best.”


Warren Buffet
Warren Buffett (in photo) said that while it’s best for trade to be balanced between countries, he does not believes President Trump is going about it the right way with widespread tariffs. AP

Buffett, however, insisted the stock market’s recent turmoil that generated headlines after Trump’s tariff announcement last month “is really nothing.”

He dismissed the recent drop in the market because he’s seen three periods in the last 60 years of managing Berkshire when his company’s stock was halved.


President Trump
President Donald Trump’s tariffs are angering the rest of the word by using “trade as a weapon,” said Buffet. Getty Images

He cited when the Dow Jones industrial average went from 240 on the day he was born in 1930 down to 41 during the Great Depression as a truly significant drop in the markets. Currently the Dow Jones Industrial Average sits at $41,317.43.

With Post wires.

Share this @internewscast.com
You May Also Like
Aerial view of a Costco Wholesale store.

Costco Urges Shoppers to Cease Use of Popular Beach Item Due to ‘Fingertip Amputation’ Risk

A POPULAR beach product has landed on Costco’s urgent recall list after…
Jeffrey Epstein died by suicide, did not have client list: DOJ memo

DOJ Memo Reveals Jeffrey Epstein’s Death Was a Suicide and No Client List Found

This story involves the topic of suicide. If you or someone you…
Risk of further floods in Texas during desperate search for missing as death toll tops 80

Flood Threat Continues in Texas Amid Urgent Search for Missing; Death Toll Exceeds 80

KERRVILLE, Texas (AP) — Central Texas faced a significant threat of life-threatening…
Surveillance footage of Jeffrey Epstein's cell.

CCTV Footage from Epstein’s Prison Finally Released 6 Years Post-Suicide, as Investigation “Reveals Whether Financier Took His Own Life”

PRISON CCTV outside Jeffrey Epstein’s cell has finally been released six years…
Israel launches airstrikes targeting Yemen’s Houthi rebels, and Houthis launch missile at Israel

Israel Conducts Airstrikes on Yemen’s Houthi Rebels; Houthis Respond with Missile Attack on Israel

Israel’s military conducted airstrikes early Monday against ports and facilities controlled by…
New Jersey Coast Guard swimmer rescues nearly 200 people in deadly Texas flash floods

Heroic Coast Guard Swimmer from New Jersey Saves Close to 200 Lives in Texas Flash Flood Disaster

A Coast Guard rescue swimmer from New Jersey is being hailed as…
Georgia Rep. Buddy Carter granddaughters safe in Texas camp flood

Georgia Rep. Buddy Carter’s Granddaughters Found Safe After Texas Camp Flooding

11 girls are still missing after floods swept through Camp Mystic in…
'Love Island USA' star Cierra Ortega exits show after racist posts resurface

‘Love Island USA’ Contestant Cierra Ortega Departs Show Following Revival of Racist Social Media Posts

Not so lovely.  “Love Island USA” star Cierra Ortega, 25, made a…
After setback to Iran's nuclear program, Trump expected to leverage military support in Netanyahu meeting

Following a Blow to Iran’s Nuclear Efforts, Trump Anticipated to Use Military Backing in Talks with Netanyahu

Hamas indicates a willingness to consider a ceasefire with Israel, as reported…
Former Houston appointee claims flood-ravaged Camp Mystic is 'Whites-only' in viral video

Ex-Houston Official Alleges Viral Video Shows Camp Mystic, Damaged by Flood, as ‘Whites-Only’

A former appointee to a Houston city board is facing criticism for…
Photo of Erin Patterson.

Prison Kitchen Incident: Erin Patterson Accused of Tampering with Food, Sickening Fellow Inmate

Erin Patterson, known as the “mushroom murderer,” has been accused of meddling…
Texas school gathers supplies to help flood-impacted locals after spotlight moves on

Texas School Collects Supplies to Support Flood-Affected Community After Media Spotlight Shifts

As families in the Texas Hill Country struggle with the aftermath of…