The Oracle of Omaha is bowing out
Marketplace Morning Report
American Public Media
4.5 • 808 Ratings
🗓️ 5 May 2025
⏱️ 7 minutes
🧾️ Download transcript
Summary
Warren Buffett is stepping down as CEO of Berkshire Hathaway after 60 years, though he'll still stay on as chairman. The legendary investor, age 94, announced at Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska. We'll hear more. And later: Have you ever wanted to spend your days with seals, sea lions and turtles? Today, we'll chat with an aquatic veterinarian who does just that, as part of our series "What's That Like?"
Transcript
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| 0:00.0 | The Oracle of Omaha is bowing out. |
| 0:05.1 | From Marketplace, I'm Sabri Beneshore in for David Brancaccio. |
| 0:08.3 | Warren Buffett is stepping down as head of Berkshire Hathaway after 60 years. |
| 0:13.2 | The time has arrived where Greg should become the chief executive officer of the company at year end. |
| 0:25.3 | That was the legendary investor himself making the announcement at Berkshire Hathaway's annual shareholder meeting in Omaha, Nebraska. |
| 0:32.5 | The Greg he mentions is vice chairman Greg Abel, who would need approval from Berkshire's board. |
| 0:36.9 | I would still hang around and could conceive it would be the United States. is vice chairman Greg Abel, who would need approval from Berkshire's board. |
| 0:42.8 | I would still hang around and could conceivably useful in a few cases. |
| 0:46.2 | Marketplaces, Nancy Marshall Genser, has more. |
| 0:51.3 | The 94-year-old Buffett will still be chairman of Berkshire Hathaway, but he says Greg Abel will have the final word on investment decisions and company |
| 0:55.2 | operations. Buffett says he plans to keep his money in Berkshire and has no intention of selling his shares, |
| 1:01.5 | pledging to, quote, give it away eventually. Before his retirement announcement, Buffett talked about |
| 1:06.6 | the global economy, warning that President Trump's trade war could cause worldwide instability |
| 1:12.1 | and adding that trade should not be a weapon. Buffett said there should be trade balance between |
| 1:18.1 | countries, but Trump was taking the wrong approach. Buffett also tried to reassure investors |
| 1:23.2 | worried about market volatility, saying there's no comparison between the recent drop and the market |
| 1:29.2 | crash at the start of the Great Depression. I'm Nancy Marshall Genser for Marketplace. |
| 1:35.5 | OPEC plus, that's the oil cartel plus a few other oil producing countries. Well, it adjusts production |
| 1:42.2 | of oil to manipulate global oil prices. That is what cartels do. |
| 1:46.2 | Often, its members lower the supply of global oil to push prices up, and then they all make more |
| 1:52.3 | money. But what happens when a member doesn't go along? Iraq and Kazakhstan didn't cut their |
| 1:58.9 | production as they were supposed to while everyone else did. |
... |
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