In a stunning announcement that reverberated throughout the financial world, Warren Buffett revealed he would step down as CEO of Berkshire Hathaway after 55 years. The news, made during the company’s annual shareholder meeting in Omaha, Nebraska, earned him two standing ovations from an audience that recognizes his monumental impact on the business landscape.

The 94-year-old Buffett indicated he would officially step down at the end of 2025, recommending Greg Abel, currently a vice-chair at Berkshire, as his successor. Buffett has transformed Berkshire from a struggling New England textile mill in 1965 into a colossal $1 trillion conglomerate with investments spanning various industries.

Bill Gates: A Tribute to a Mentor and Philanthropist

Tech titan Bill Gates expressed deep admiration for Buffett, labeling him "one of the greatest CEOs ever" and the "most successful investor of all time." Reflecting on their 30-year friendship, Gates highlighted Buffett’s influence on both business and philanthropy, emphasizing that his legacy would inspire future generations.

Tim Cook: A Unique Legacy

In a heartfelt X post, Apple CEO Tim Cook praised Buffett, stating, "There's never been someone like Warren." He expressed gratitude for having known him and trust in Abel’s ability to lead Berkshire into the future.

Jamie Dimon: An American Icon

JPMorgan Chase CEO Jamie Dimon celebrated Buffett’s legacy, stating, "He represents everything good about American capitalism." Dimon reflected on how Buffett’s integrity and optimism have shaped his own approach to business.

Mark Cuban: An Investing Hero

Entrepreneur Mark Cuban shared his personal sentiment, calling Buffett his "investing hero". He fondly recalled their meetings at a Dairy Queen, saying it was always a highlight of his year.

Philanthropic Giants Acknowledge Buffett's Impact

Bank of America CEO Brian Moynihan emphasized not only Buffett's business achievements but also his unrivaled philanthropic efforts. Moynihan noted that Buffett’s life lessons continue to resonate as he supported both the economy and the spirit of innovation.

Bill Gross: The Financial Wizard

Billionaire investor Bill Gross remarked on Buffett’s extraordinary investment strategies, which turned Berkshire into a powerhouse. He celebrated Buffett’s long-term vision and reminisced about their earlier business dealings.

A Collective Farewell from Business Leaders

As tributes poured in from various corners of the business world, leaders such as Stephen Squeri of American Express and Seth Klarman of Baupost Group recognized Buffett’s remarkable career and lasting influence. Squeri expressed excitement about continuing collaboration under Abel’s guidance, while Klarman noted that Buffett's mentorship reaches far beyond investing.

Buffett's retirement marks the end of an extraordinary chapter in American business history. From innovators to executives, his peers reflect an overwhelming respect that underscores not just a legacy of financial success, but a profound commitment to philanthropy and mentorship.