Warren Buffett, the legendary American billionaire, has announced his decision to step down from leading Berkshire Hathaway by the end of the year. Known as the 'Oracle of Omaha,' Buffett's business acumen has made him a towering figure in the financial world,

In an announcement that many investors knew was coming but didn’t believe would actually happen, famed investor Warren Buffett said Saturday at Berkshire Hathaway’s annual shareholder meeting that he would step down as CEO at the end of the year.

He described his Edmonton neighborhood in Alberta, Canada, as working-class and family-oriented. He lives in Iowa with his family.