Warren Buffett, the esteemed investor and CEO of Berkshire Hathaway, has announced his decision to step down from his role at the age of 94, marking the end of an era in Wall Street history.

Over his 60-year leadership, Buffett transformed Berkshire Hathaway from a struggling textile company into a financial conglomerate with a market capitalization of approximately $1.2 trillion.

In an interview, Buffett disclosed that his retirement was motivated by his increasing awareness of the impacts of aging.

'I really didn’t feel old until I got to be 90...

but when that feeling starts, you cannot ignore it, and there is no turning back,' he stated.

As he approaches his 95th birthday in August, Buffett noted experiencing minor health issues, including balance problems, difficulty recalling names, and diminished vision, particularly while reading.

Despite these challenges, he affirmed that his mental acuity remains intact, enabling him to make critical investment decisions, especially amid market crises.

'I still possess the ability to make the same decisions I’ve made for decades...

I will still be useful when panic grips the markets, as I do not get rattled by declining prices, unlike many,' he added.

This leadership transition comes at a time when Berkshire Hathaway is at the peak of its success, with its stock trading near all-time highs.

According to the board’s decision, Greg Abel, the company’s vice chairman of non-insurance operations, will assume the CEO role beginning January 2026, while Buffett will remain as chairman.

Buffett’s retirement signifies the conclusion of one of the most impactful careers in modern investment history, leaving behind a legacy that is expected to guide future generations of investors.

Born in 1930 in Omaha, Nebraska, Buffett is recognized as one of the most successful investors in history.

He has maintained a philosophy of 'value investing,' focusing on acquiring stocks deemed undervalued relative to their intrinsic worth.

Known for his frugal lifestyle despite his considerable wealth—estimated at $132 billion in May—Buffett has dedicated himself to philanthropic efforts, co-founding the 'Giving Pledge,' and serves as a global exemplar of financial intelligence and long-term investment strategies.

Buffett's influence on market policies and the global economy remains significant, as his investment strategies continue to impact financial trends worldwide.