What will happen to Berkshire Hathaway after Warren Buffett's retirement, who is the successor?

News Topical, Digital Desk : Market guru Warren Buffett, one of the world's most successful and powerful investors, surprised everyone by announcing his decision to step down as CEO of his company Berkshire Hathaway after 60 years.

Buffett, 95, had announced his departure from the company long ago. He has stepped away from active business twice before, but has returned strongly each time.

Now the real test of his successor Greg Abel's abilities has begun, where the future of the company seems surrounded by uncertainties.

Buffett's retirement history 

Buffett first took a break from business in 1956 at the age of 25. At that time, his mentor and renowned investor Benjamin Graham closed his fund, leading Buffett to return to Nebraska. This break didn't last long.

He soon formed his own investment partnership and focused his attention on Berkshire Hathaway, then a struggling textile company, which would later become one of the greatest successes in business history.

Buffett announced his retirement for the second time in 1969, at the age of 38. He closed the fund, telling investors that "the market environment is not favorable at this time." But this decision also proved temporary. Buffett soon returned to the company.

The Empire of Berkshire Hathaway

Berkshire Hathaway is a financial powerhouse today. It is the second-largest insurance company in the United States, holding approximately ₹34 trillion in cash.

The company comprises nearly 200 companies, including BNSF Railway, power generation facilities, consumer brands like Brooks running shoes, and See's Candy.

Read More: Donro Doctrine: Trump didn't give Madure a blow for oil, is Xi Jinping behind it?