When Warren Buffett sat down with The Wall Street Journal, he dropped a surprising admission: at 94, he's finally feeling his age. “I didn't really start getting old until I was about 90,” he laughed, “and once it hits, there's no turning back.”
That realization convinced him to hand the CEO title at Berkshire Hathaway (BRK.B, Financial) to Greg Abel this December—though he'll stick around as chairman. Buffett didn't plan to leave the CEO chair any time soon. He believed he'd stay as long as he was the best person for the job, but lately he's noticed little things—losing his balance, forgetting names—that made him pause.
By contrast, Abel, who's been running Berkshire's non-insurance operations and its energy business, was still powering through a 10-hour day with ease. “He simply gets more done,” Buffett said, noting how Abel's energy level has become “dramatically” higher than his own.
Despite stepping back, Buffett insists he's still sharp on investment calls. He pointed out that he makes decisions today the same way he did 20, 40 or even 60 years ago, and that market panics won't spook him. His honest take on aging—and on why he chose to pass the torch—felt almost like chatting with a longtime friend rather than the Oracle of Omaha.
This change flips the script on investors who always assumed Buffett would stay at the helm for life, and it clears a big question mark hanging over Berkshire's future leadership.
