Warren Buffett retires as Berkshire Hathaway CEO

After 55 years, it’s Warren Buffett’s last day as chief executive of investing juggernaut Berkshire Hathaway

After 55 years, it’s Warren Buffett’s last day as chief executive of investing juggernaut Berkshire Hathaway.

The 95-year-old, often referred to as the “Oracle of Omaha” and the “billionaire next door,” will relinquish the title after a career that saw him turn a failing textile firm into one of the most successful asset managers in the world.

Greg Abel, the 63-year-old lesser-known CEO of Berkshire's energy business, will take the helm of the conglomerate on Thursday. Buffett will remain its chairman.

Under Buffett’s leadership, Nebraska-based Berkshire has thrived at the intersection of Wall Street and Main Street, with investments in industries ranging from railroads and insurance to candy and ice cream.

Along the way, while living in the same house he bought for just over $30,000 in the late 1950s, he redefined investing for the American public with his folksy and practical advice, became one of the wealthiest people on Earth and dedicated much of that fortune to philanthropy.