(p. A1) . . . at the end of Saturday’s Berkshire Hathaway annual meeting, the Oracle of Omaha dropped a bonbshell before a gathering of some 17,000 shareholders: that he’s set to step aside as Berkshire CEO, with vice chairman Abel taking his place.
. . .
(p. A4) It was little surprise that the very first question from moderator Becky Quick of CNBC in the Saturday [May 3, 2025] Q&A had to do with tariffs.
. . .
While critical of Trump’s tariffs, Buffett had little bad to say about Trump’s budget and program-slashing Department of Government Efficiency.
He called the current 7% gap between the federal government’s revenues and expenditures unsustainable. Whether that’s two or 20 years “it’s something that cannot go on forever,” he said. And if it isn’t brought under control, he said, it risks rampant inflation.
“I think it’s a job I don’t want, but it’s a job I think should be done, and Congress doesn’t seem to be doing it,” Buffett said.
For the full story, see:
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(Note: the online version of the article has the title “Warren Buffett stepping down as Berkshire Hathaway CEO at end of year; shareholders react.”)