In an arena in Omaha, Neb., thousands of shareholders attending Berkshire Hathaway’s annual meeting rose to their feet and showered Warren Buffett in applause after the famed investor announced that he will retire at the end of this year. “The enthusiasm shown by that response could be interpreted in two ways,” joked Buffett, 94, after receiving the standing ovation.
In the hours and days following his announcement, there was an outpouring of tributes from Buffett’s peers and business leaders. Apple’s Tim Cook described his relationship with Buffett as a “great privilege,” while Bill Gates, a longtime friend of the Berkshire chief, dubbed him the most successful investor in history.
Buffett’s retirement will mark the end of a very, very lucrative era for Berkshire, which he has led for 60 years and grown into a $1.2 trillion conglomerate. His successor, Greg Abel, will take over at the end of the year, while Buffett will remain as chairman. Still, as leaders across tech and finance have emphasized, Buffett’s legacy as the “Oracle of Omaha” is far from fading.
Here’s a look at what some of the world’s most prominent business figures had to say about Buffett’s announcement:
Bill Gates
Bill Gates and Buffett have a longstanding friendship that harkens back to the 1990s. “Warren is one of the greatest CEOs ever, and he’s hands-down the most successful investor of all time,” said Gates in a statement that praised Buffett’s “wisdom, integrity, and a phenomenal sense of humor.”
Gates and Buffetts are both renowned philanthropists, with Buffett having given billions to the Bill and Melinda Gates Foundation over the years. They also helped establish the Giving Pledge, a campaign that encourages the ultra-wealthy to donate much of their net worth to charity. “When he decided to give his wealth back to society, he set as an example as a philanthropist too,” said Gates of Buffett. “His legacy will inspire generations to come.”
Tim Cook
One of Berkshire’s largest holdings is Apple. Buffett sang its CEO Tim Cook praises during Berkshire’s recent shareholder meeting, claiming that the Apple chief “has made Berkshire a lot more money than I’ve ever made Berkshire Hathaway.”
After Buffett announced his plans to retire, Cook returned the favor. “There’s never been someone like Warren, and countless people, myself included, have been inspired by his wisdom. It’s been one of the great privileges of my life to know him, ” said the Apple CEO in a May 3 post on X.
Mark Cuban
Billionaire investor Mark Cuban called Buffett “a legend and my investing hero” in an emailed statement to Observer. Over the years, the duo were frequently spotted eating ice cream and chicken sandwiches at Dairy Queen, the fast food chain owned by Berkshire. “Our trips to Dairy Queen to discuss everything but stocks were incredible,” added Cuban, who also reposted a video on X of Buffett’s standing ovation over the weekend.
Jamie Dimon
JPMorgan Chase CEO Jamie Dimon has formerly cited Buffett as an inspiration across both investing and policy recommendations. “Warren Buffett represents everything that is good about American capitalism and America itself—investing in the growth of our nation and its businesses with integrity, optimism and common sense,” said Dimon in a statement. “I’ve learned so much from him to this very day, and I’m honored to call him a friend.”
Brian Moynihan
According to Bank of America CEO Brian Moynihan, it isn’t just Buffett’s investing know-how that should be praised, but his vast charitable contributions and sage advice. “Beyond his business success, his unprecedented philanthropic giving continues to be an example to follow,” said Moynihan in a statement.
“His life lessons delivered to young and old are as valuable as his business acumen. I have personally learned so much from him and look forward to continuing to benefit from his insights,” added the banking executive.
Bill Ackman
Bill Ackman, the hedge fund manager behind Pershing Square Capital Management, is such a fan of Buffett’s that he’s currently attempting to replicate the investor’s success with a real estate firm called Howard Hughes Holding.
“Buffett has been very thoughtful about everything in his life and, in particular, Berkshire,” Ackman told CNBC in an interview published today (May 5), adding that the investor’s ability to build a unique, culture-driven conglomerate is something that will outlast his leadership. “I think you’ve got a principle-based company that’s going to stay a principle-based company going forward,” he said.
Howard Marks
Measuring up to Warren Buffett is “impossible,” according to Howard Marks, co-founder of Oaktree Capital Management. “He is the single most influential investor of all time—the Isaac Newton of investing,” said Marks in a statement.
Marks noted that, while Buffett is modest about his accomplishments, his success is unparalleled. “He says when he started in the early 1950s, he was able to buy dollars for 50 cents—and he makes it sound easy,” said Marks. “But the thing is, even if the opportunities were there, nobody else did it. There weren’t multiple Warren Buffetts.”
