Buffett has announced that he will retire at the end of the year

On May 4th, local time on May 3rd, American investor Warren Buffett announced at Berkshire Hathaway's annual shareholder meeting on the same day that he plans to retire at the end of the year, shocking the shareholders present. Buffett said he would recommend to Berkshire Hathaway's board of directors Greg Abel, vice chairperson of non-insurance business, to take over the CEO position at the end of the year, saying he believes Greg is ripe to become the company's CEO. According to the Associated Press, Buffett made the announcement after a five-hour question-and-answer session, without answering any related questions. Mr. Buffett said the only people on the board who knew about it were his two children, Howard Buffett and Susie Buffett.