Warren Buffett, 94, stepping down as Berkshire Hathaway CEOMr Buffett, who built Berkshire Hathaway from a failing textile maker into an investment juggernaut worth $1.16tn (£870bn), is arguably the world's most successful investor. "I think the time has arrived where Greg should become the chief executive of the company at year end," said Mr Buffett, 94. Warren Buffett has announced he will retire as chief executive of Berkshire Hathaway at the end of the year. Mr Buffett handpicked Mr Abel as his successor four years ago but gave no indication at the time that he would retire. Mr Abel, sitting next to Mr Buffett on stage, was apparently caught unaware by the announcement.