[Article publié le 3 mai 2025 à 13h59, mis à jour à 21h09]
A page turns. The legendary investor Warren Buffett announced on Saturday, at the annual general meeting of Berkshire Hathaway, his intention to leave by the end of the year the president of the conglomerate which he has been running for several decades. At 94, he plans to propose to the board of directors the appointment of Gregory Abel, his 62 -year -old designated successor at the head of the company. « The time has come for Greg to take the lead of the company at the end of the year “Said Warren Buffett. « I would stay around and could possibly be useful in some situations “He also said.
The announcement, which had only been shared with two of its children members of the council, was welcomed by an ovation nourished by the shareholders present in Omaha, the place of the annual general meeting. This turning point marks the end of an era for one of the pillars of American capitalism. Under the direction of Buffett, Berkshire Hathaway has become a conglomerate weighing more than $ 1,100.
Exceptional longevity in the incessant tumult of finance. Sixty years that Warren Buffett has metamorphosed an obscure textile company from Massachusetts into a sprawling conglomerate, Berkshire Hathaway. Its annual meeting has become much more than a simple shareholder meeting. It is a real pilgrimage, a “Woodstock of the capitalists” which loves nearly 40,000 people from all over the globe.
But the 2025 edition also brought the imprint of a painful absence, that of Charlie Munger, his accomplice and a lifelong partner, disappeared last year. Unlike the previous year, the company recorded a 14 % drop in its operating profits in the first quarter to $ 9.64 billion, compared to 11.22 billion a year earlier. This decline is mainly explained by a fall of almost 49 % of insurance profits, traditional engine engine.
Despite this context, Berkshire Hathaway displays exceptional financial health with cash reaching a historic level of $ 347 billion, a consequence of a policy of massive sales of actions for ten consecutive quarters.
Marked reduction on the part of Apple and total exit from Paramount
Warren Buffett took advantage of this context to adjust his portfolio: he reduced Berkshire’s participation by 13 % in Apple in the first quarter, continuing a profits and tax optimization strategy initiated last year. In addition, he announced the complete sale of participation in Paramount, recognizing a significant loss on this investment and learning the lessons of an entertainment sector in full change.
If Berkshire Hathaway’s stock market performance has been largely outpercased that of the S&P 500 since the start of the year (+18 % against -3 %), the mountain of liquidity accumulated poses an unprecedented challenge: how to invest in a judicious way in a market where good deals are scarce and at the time of a possible trade war?
On the theme of customs duties precisely, Warren Buffett took advantage of the general assembly to show his opposition to the strategy deployed by the White House. “” Trade should not be a weaponhe said. I don’t think it’s just, and I don’t think it’s wise. »
