📍#WarrenBuffett , 94, has announced he will step down as CEO of Berkshire Hathaway by year-end, naming Vice-Chairman Greg Abel as his successor.

The legendary investor made the surprise announcement at the company's annual meeting, saying Abel is ready to lead.

Buffett, worth $154 billion, built Berkshire into a $1.16 trillion giant and will retain his shares, pledging to donate them.