Warren Buffett reveals the heartbreaking real reason he stepped down from Berkshire Hathaway.
Warren Buffett admitted that he only started to 'become old' when he hit the age of 90 which led to the Wall Street legend finally stepping down from Berkshire Hathaway at 94.
Earlier this month, the 'Oracle of Omaha' attracted gasps and then a standing ovation when he broke the news during the annual meeting of his firm.
Buffett gave no specific reason when he announced his departure, merely endorsing long-time chairman Greg Abel as his successor.
'I think the time has arrived where Greg should become the chief executive officer of the company at year end,' Buffett said.
However, in a new interview, Buffett admitted that his age was finally catching up to him as he headed toward his mid-90s.
'I didn't really start getting old, for some strange reason, until I was about 90 but when you start getting old, it does become - it's irreversible.'
He cited heartbreaking moments such as losing his balance, forgetting names and not being able to clearly read newspapers.
Buffett commented that he and his successor Abel had begun to operate at different speeds, with his only getting slower.
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