Warren Buffett shares stark warning about the future of Trump’s tariffs as he steps down from Berkshire Hathaway

Warren Buffett surprised everyone with two big announcements—one about the future of U.S. trade and the other about his own future at the company he built.

At 94 years old, Buffett said he’ll be stepping down as the CEO of Berkshire Hathaway, a role he’s held for over 55 years. He made the announcement at the company’s yearly meeting in Omaha, Nebraska. But just before that, he issued a serious warning about the direction the U.S. might be heading under Donald Trump, especially regarding tariffs.

Although he didn’t directly mention Trump, Buffett made it clear that he thinks the former president’s ideas about trade and tariffs could hurt not only the United States but also its relationships with other countries and the global economy overall. He called the use of tariffs a “big mistake” and said that using trade like a weapon could eventually lead to major conflict.

Buffett emphasized that trade should help everyone involved, not create tension or make other countries feel bitter. He pointed out that with billions of people in the world and only a few hundred million in the U.S., it’s not wise to act superior. He believes it’s better to cooperate—each country doing what it does best and benefiting from each other.

Just after sharing those thoughts, Buffett dropped another bombshell—he’s handing over leadership of Berkshire Hathaway to Greg Abel, who was sitting right next to him on stage and didn’t seem to know this was coming. Buffett said he believes it’s time for Greg to become CEO by the end of the year. Only two people knew in advance: Buffett’s children, Howard and Susie, who are also board members.

Buffett had long denied any plans to retire, often saying he wasn’t going anywhere anytime soon. He also made it clear that even though he’s stepping down, he has no plans to sell his shares in the company. In fact, he said he’s keeping every share and plans to eventually donate all of it to charity.

He praised Greg Abel’s leadership and said he believes the company’s future is even brighter under Greg’s management. Buffett also said he’ll stick around to help with the transition, although Greg has already been overseeing many parts of the business.

As for his enormous wealth Forbes estimates it’s around $168 billion Buffett has made it clear that it’s not going to his kids. Instead, he plans to give it all to charity. He’s said before that he trusts his three children, but he doesn’t want to build a dynasty or leave behind a fortune for future generations who may not share the same values or priorities.