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Stock Market Live May 5: Will Warren Buffett Tank the S&P 500 (VOO) Today?

24/7 Wall St. Monday, 5 May 2025 ()
Warren Buffett announced he’s stepping down as head of S&P 500 component Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) on Saturday, naming Greg Abel, vice chairman of non-insurance operations, as his chosen replacement. Berkshire’s board of directors unanimously approved the choice one day later.  The S&P 500 opened 0.8% lower on the news, dragging down the […]
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News video: Buffett Steps Down: What Happens to Berkshire’s $348 Billion Empire Now? | | Who’s the New CEO?

Buffett Steps Down: What Happens to Berkshire’s $348 Billion Empire Now? | | Who’s the New CEO? 03:08

Warren Buffett has announced he’ll step down as CEO of Berkshire Hathaway by the end of 2025, naming Greg Abel as his successor. Abel, a 30-year veteran of the firm, will inherit control of Berkshire’s $348 billion cash reserves and $1.16 trillion empire. The news broke during the annual...

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