His decision, although not entirely unexpected, shocked thousands of people. Buffett previously appointed Greg Abel as his successor in 2021. But the timing of the announcement was surprising.
Record net worth in the year
Buffett's departure comes as his financial acumen continues to outperform his peers. According to the Bloomberg Billionaire Index, his net worth is now $169 billion. As of May 3, 2025, Forbes' nearly $168.2 billion estimated to mark the $16.4 billion increase this year, the biggest gain of the world's top one billion houses.
His ability to increase wealth, while others stand out. Elon Musk's wealth fell by $135 billion, Jeff Bezos lost $42.6 billion, and Mark Zuckerberg fell by $24.5 billion. Meanwhile, Buffett has drawn a cautious course: selling stakes in technology and banking at a strong price, cash in stocks, and favoring high-yield U.S. Treasuries. result? A growing war box and a thriving portfolio.
Please read also: Meet Greg Abel
Lifelong investment discipline
Buffett's strategy has long been defined by patience and prudence. His February letter to shareholders summarized his position: “Nothing is convincing.” By the end of 2024, Berkshire had accumulated $334 billion in cash. Analysts believe this is not hesitation, but vision, which may be a buffer against economic uncertainty. This disciplinary approach is Buffett's investment philosophy. “Those who are too upset about price fluctuations should not have stocks,” he told CNBC in 2018. In the 2008 New York Times, he wrote: “When others are greedy, be afraid, and be greedy when others are terrified.” ”
His belief in long-term thinking has always been consistent. Buffett reiterated earlier this year: “We have almost always a longer vision of such commitments than we do in a year.”
Please read also: Warren Buffett retires by the end of this year, advises Greg Abel
Manage a $267 billion portfolio
By the end of 2024, Buffett managed a $267 billion equity portfolio. His stake covers some of the largest and most well-known global companies. Among them:
- apple
- American Express
- Bank of America
- Coca Cola
- Herringbone
- Occupy Oil
- Amazon
- Japanese trade houses include Itochu, Marubeni, Mitsubishi, Mitsui, Sumitomo
- Pizza in Domino
- Zodiac Brand
- Davita
- Sirius XM
- Verisign
He won't always insist on investing. Instead, he adapts to risks. This year’s performance proves that adaptability is still important.
A humble lifestyle, a huge fortune
Despite his enormous wealth, Buffett lived a life of obvious modesty. He still lives in an Omaha home he bought in 1958 for $31,500. Now worth about $1.4 million, a far cry from the multi-million dollar mansion his billionaire travelers with. He also owns a holiday home in Laguna Beach, California.
Buffett is committed to giving away most of his wealth, mainly for the Bill & Melinda Gates Foundation. His philanthropic prospects are as significant as his investments.
Buffett's resignation marks the end of his 54-year term in office for leader Berkshire Hathaway. From a little boy inspired by a book called “A Thousand Methods” to one of the world's largest conglomerates, Buffett's story has attracted investors for decades.
His legacy is now passed to Greg Abel. Berkshire Hathaway enters a new chapter as the company's fundamentals are intact and its strategy is firmly crafted, but is still shaped by Buffett's enduring philosophy.
