Warren Buffett, CEO of the investment company publicly circulated in Perkshire Hathaway, announced at the company’s annual shareholders’ meeting that he will step down by the end of 2025, and the Mukhtar will be succeeded by the position of CEO, suspended approval by Berkshire’s Board of Directors.
according to CNBCBuffett confirmed that Greg Abel, the company’s vice president of insurance operations, which was previously named by Buffett as his successor, will take responsibility. Berkshire founder:
“It is time when Greg should become the company’s CEO at the end of the year, and I want to start the directors effectively and give it as recommendations.”
Buffett added that he will remain in the company in a consulting role, “But the last word will be what Greg decided,” said CEO. Puffett’s decision to step down when the CEO comes at a time when Berkchire Hathaway sits on cash reserves of about 348 billion dollars.
The legendary investor in stocks has repeatedly described the growing unstable US national debt and issued warnings about the unstable total economy environment that caused the stock market.
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Berkshire Hathaway beats S&P, but it is more than Bitcoin
Although he is famous for continuously returning the average S&P 500 for investors throughout his career, a buffet failed in Bitcoin’s superiority (BTC) and gold.
Although regular shares of Berkshire Hathaway carries a price of more than $ 809,000, a maximum of the market is more than $ 1 trillion at the time of writing this report, the company’s shares have been significantly weakened against Bitcoin in terms of percentage since 2015.
Bitcoin has returned more than 781 % gains for investors since 2020, while Perkshire Hathaway has returned only about 150 % during the same period.
BATC has always been criticized, on the pretext that the decentralized digital currency covered with its supply has no value and its likeness to fraud on several occasions.
Berkshire founder and his partner, Charlie Monger, repeatedly said that bitcoin does not even qualify as investment and should be avoided by merchants.
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