During Berkshire Hathaway's annual meeting in Omaha, Nebraska, CEO Warren Buffett made a surprising announcement that he plans to step down from his role by the end of the year. This decision will mark a significant shift for the conglomerate, as Buffett has been its guiding force for decades. He has proposed that Greg Abel, the current vice chairman of non-insurance operations, will succeed him. Although Buffett intends to make a formal announcement to the board soon, he has already informed his children, who are also board members, about his decision. Other board members were not aware of this move prior to the meeting. Despite stepping down as CEO, Buffett has no intentions of selling his shares and plans to stay involved to support the company. During the meeting, he addressed various concerns, particularly focusing on economic issues such as tariffs. Buffett expressed his worry over the potential negative impact of President Donald Trump's proposed tariffs, cautioning that they could lead to a recession. He emphasized that trade should not be used as a weapon and advocated for more open trade relations, suggesting that global prosperity benefits everyone, including the United States. Buffett refrained from directly naming Trump while discussing the economic implications of these tariffs. Despite recent market fluctuations attributed to tariff announcements, Buffett remained unfazed, noting that such volatility is not unusual. He observed that while market movements have been significant, they are not unprecedented, and even a substantial drop in Berkshire's shares would present a "fantastic opportunity." Furthermore, Buffett commented on the U.S.'s fiscal deficit, describing it as unsustainable in the long term. Although he did not comment specifically on Trump's government efficiency initiative known as "DOGE," he underscored the importance of reducing government spending to sustainable levels, a task he believes Congress is currently neglecting. Buffett also revealed that Berkshire Hathaway almost made a significant investment recently, indicating their readiness to deploy substantial