Buffett Steps Down, Greg Abel Takes Reins of Trillion-Dollar Berkshire Hathaway

• Warren Buffett steps down as head of Berkshire Hathaway, a trillion-dollar investment giant he built from a struggling textile firm.
• Greg Abel, a trusted lieutenant with 25 years at Berkshire, takes over as CEO, having previously led Berkshire Hathaway Energy.
• Buffett's legacy includes transforming Berkshire through strategic investments like National Indemnity, See's Candies, and Coca-Cola.
• Charlie Munger's partnership was crucial in shaping Berkshire Hathaway into a durable, successful entity.
• Abel is committed to Berkshire's culture of autonomous business operations, managing non-insurance sectors like BNSF railroad and retailers.

Why It Matters: Warren Buffett passes Berkshire Hathaway's legacy to Greg Abel, marking a new era for the investment giant.