Warren Buffet: CEO of NetJets owner Berkshire Hathaway confirms retirement
The acclaimed US investor Warren Buffet has announced he will retire from his role as CEO of Berkshire Hathaway, the parent company of private aviation firm NetJets.
The 94-year-old announced the news during Berkshire Hathaway’s annual general meeting on May 3, 2025, with only his children Howard and Susie Buffett given prior notice of the move.
The following day on May 4, 2025, Berkshire Hathaway’s Board of Directors voted unanimously to appoint Buffet’s pick Greg Abel as the new president and CEO from January 1, 2026.
Abel already runs vast segments of Berkshire Hathaway’s company portfolio and was announced as Buffet’s eventual successor in 2020.
“I think the time has arrived where Greg [Abel] should become the chief executive officer of the company at year-end. And I want to spring that on the directors, effectively, and give that as my recommendation,” Buffet told the audience of shareholders.
NetJets, which offers fractional ownership of private jets, has been part of Berkshire Hathaway since 1998 when it paid $711 million for the company.
Berkshire Hathaway also owns Flight Safety International and Precision Castparts within the aviation sector.
The company previously owned stakes in several major US airlines including Southwest, Delta, United and American but these were all sold during the COVID-19 pandemic.
To audience cheers, Buffet said during the annual general meeting that he does not plan to sell off any of his shares in Berkshire Hathaway.
“I have no intention, zero, of selling one share of Berkshire Hathaway. It will get given away,” said Buffet.
Other companies that Berkshire Hathway owns include GEICO, BNSF Railway, Fruit of the Loom, Dairy Queen and Brooks Sports.
The company also holds investments in Apple, Bank of America, American Express and Coca-Cola.
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The post Warren Buffet: CEO of NetJets owner Berkshire Hathaway confirms retirement appeared first on AeroTime.
The acclaimed US investor Warren Buffet has announced he will retire from his role as CEO of Berkshire…
The post Warren Buffet: CEO of NetJets owner Berkshire Hathaway confirms retirement appeared first on AeroTime.
