Warren Buffett praised Tim Cook’s genius for having generated more profits for Berkshire Hathaway than he has never done, while announcing his resignation and the appointment of Greg Abel as a successor.
During the annual meeting of shareholders of Berkshire Hathaway on May 3, 2025, Warren Buffett, the CEO of the company, expressed his admiration for Tim Cook, the CEO of Apple, declaring that the latter had generated more profits for Berkshire Hathaway than himself could never have done. Buffett acknowledged that although Steve Jobs founded Apple and developed it from zero, it was Tim Cook who propelled the company to new summits after the death of Jobs. Under the direction of Cook, Apple has experienced remarkable growth, with an increase in the value of its shares by making an X14, going from less than $ 15 to $ 205. This spectacular increase brought Apple’s market capitalization to more than $ 3,000 billion.
Buffett also announced his resignation from his CEO post of Berkshire Hathaway, a decision that will take effect at the end of 2025. Greg Abel, current vice-president, will take over as CEO. Buffett will remain Chairman of the Board of Directors of Berkshire Hathaway, thus continuing to play a role within the company.
-Tim Cook paid tribute to Warren Buffett on social networks, calling him a source of inspiration and expressing his confidence in Greg Abel to continue the inheritance of Buffett. Cook also shared a photo of him with Buffett, accompanied by a personal message paying tribute to the legendary investor.
The leadership transition at Berkshire Hathaway marks the end of an era, because Buffett has led the company for more than six decades, transforming it into a global conglomerate with more than $ 1,000 billion. Under the direction of Buffett, Berkshire Hathaway has invested in a wide range of companies, ranging from Duracell batteries to the insurer Geico, including actions in companies such as Coca-Cola, Bank of America and Apple.
Greg Abel, who joined Berkshire Hathaway in 1992 and supervised activities not linked to business insurance for several years, was carefully selected by Buffett to succeed him. Buffett expressed his confidence in Abel’s ability to direct the company, stressing that Berkshire Hathaway would be in good hands with him at the helm.
