World’s richest investor Warren Buffet says Apple under CEO Tim Cook has contributed to Berkshire more than he has

Warren Buffett, CEO of Berkshire Hathaway, has praised Apple CEO Tim Cook for his leadership and the immense financial growth he has overseen at the tech giant. The legendary investor’s commendations came during his opening remarks at Berkshire Hathaway’s annual meeting on Saturday (May 3), even after his conglomerate significantly reduced its stake in Apple last year.“Tim Cook has made Berkshire a lot more than I have made Berkshire,” Buffett said amid a laughing audience."Credit should be given to him," he said, highlighting the appreciation of Berkshire's approximately $35 billion investment in Apple made between 2016 and 2018, which ballooned to a staggering $173 billion by the end of 2023.Despite this success, Berkshire Hathaway sold off roughly 67% of its Apple shares during the first three quarters of 2024. By the end of December 2024, the investment firm held only 300 million Apple shares, valued at approximately $62 billion based on Friday's (May 2) closing price of $205 per share.In what can be called a high compliment, Buffett compared Cook to Apple's iconic co-founder, the late Steve Jobs. “I knew Steve Jobs briefly,” Buffett stated, acknowledging that the creator of the iPhone “of course did things that nobody else could have done.”“Nobody but Steve could have created Apple, but nobody but Tim could have developed it like it has,” Buffett said while emphasising Cook's unique contributions.Since Tim Cook took over as CEO in 2011, Apple's stock has witnessed an extraordinary surge, climbing from under $15 on a split-adjusted basis to $205. This roughly 14-fold increase has propelled Apple's market capitalisation to over $3 trillion, underscoring the financial success the company has achieved under Cook's leadership.Buffet, the 94-year-old investing legend, also announced his decision to step down as chairman and CEO. Greg Abel, 62, Berkshire’s vice chairman, will be Buffett’s designated successor.Recently, Microsoft founder Bill Gates also sent a congratulations to Warren Buffet, the legendary investor and CEO of Berkshire Hathaway, following Berkshire's annual shareholder meeting in Omaha where the 94-year investor said that he would step down as CEO at the end of the year. The Microsoft co-founder took to social media to share a heartfelt "Congratulations" message, emphasising the transformative impact Buffett has had on his life.In a post on threads, Gates reflected on the “incredible couple of days in Omaha,” reflecting on the value he places on his time spent with Buffett. Gates stated that he regards Buffett not only as "one of the greatest investors and philanthropists of all time" but also as a cherished "mentor and a friend."Recently, JP Morgan and Chase CEO Jamie Dimon expressed his admiration for Warren Buffett after this retirement announcement. Dimon praised Buffett, stating that he "represents everything that is good about American business."