Buffett Bows to Apple's Cook, Acknowledges Outshining His Investment Prowess

Warren Buffett and Tim Cook Exchange Praise as Buffett Announces Retirement

Warren Buffett, the billionaire investor, recently announced his retirement from Berkshire Hathaway at the age of 94. During this announcement, he modestly acknowledged that Apple has brought more financial success to Berkshire Hathaway than any other investment he has made. Specifically, the value of Apple’s stock has surged by 680% since Berkshire first began acquiring shares in early 2016.

Apple CEO Tim Cook responded with admiration for Buffett's wisdom and leadership, stating that being inspired by Warren has been a great privilege of his life. Buffet also reflected on the legacy of Steve Jobs, crediting him as the visionary who founded Apple. However, he emphasized that Tim Cook has been instrumental in developing and growing Apple into its current form. ‘Nobody but Steve could have created Apple, but nobody but Tim could have developed it as he has,’ Buffett said.

At its peak, Berkshire owned 905 million shares of Apple, valued at $174 billion, though they have since sold nearly 70% of their stake.