After 60 years of running Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), Warren Buffett will be riding off into the sunset.
The 94-year-old, widely regarded as the greatest investor of all time, announced at Berkshire’s annual shareholder meeting over the weekend that Greg Abel would take over as CEO by the end of the year.
Buffett is regarded as an investing and business legend for a number of reasons, and Berkshire’s track record speaks for itself. He essentially doubled the annual return of the S&P 500 (SNPINDEX: ^GSPC) over his career, delivering phenomenal returns for his investors along the way.