Berkshire Hathaway CEO Warren Buffett is all praise for Tim Cook for his business mindset and the way he took Apple forward after Steve Jobs. Buffett publicly highlighted Cook at the company's annual shareholder meeting, where he also confirmed that he was stepping down. After Steve Jobs, Tim Cook took it upon himself to straighten up the supply chain and overlooked a handful of new products that were not launched in Jobs' era.
Warren Buffett acknowledges Tim Cook’s genius for generating more profit for Berkshire than he ever could
Warren Buffett told the audience, "I'm somewhat embarrassed to say that Tim Cook has made Berkshire a lot more money than I've ever made," highlighting that Apple's stock went up by 680 percent since he first started accumulating shares in 2016. While Steve Jobs was the one who founded Apple and built it from the ground up, Tim Cook took it to new heights and cashed unexplored domains. Buffett states:
"Nobody but Steve could have created Apple, but nobody but Tim could have developed it as he has."
Warren Buffett has always been cautious about investments in the tech sector, but based on the results, Apple has made him billions of dollars. Tim Cook convinced investors of the higher returns, which allured them into getting in on the business. In 2024, there also came a point when Buffett was the biggest investor in Apple outside the Exchange-Traded Funds.
In 2024, Berkshire Hathaway's investments in Apple reached a staggering value of $174 billion, which stemmed from a total acquisition cost of just $40 billion accumulated over the course of several years. However, the conglomerate has significantly reduced its position by offloading nearly 70 percent of the 905 million shares that it once had at its peak.
Tim Cook is the one to praise, who helped Apple reach new heights by growing company stocks at an extraordinary pace, rising from just under $15 to $205. The 14x surge makes Apple's market value at more than $3 trillion. With Warren Buffett stepping down from his position as company CEO, regarded as one of the greatest investors of all time, the leadership responsibilities will be passed on to Vice Chairman Greg Abel.
In response to Buffett's departure, Tim Cook tweeted, "There’s never been someone like Warren, and countless people, myself included, have been inspired by his wisdom. It’s been one of the great privileges of my life to know him. And there’s no question that Warren is leaving Berkshire in great hands with Greg." We will share more details on the matter, so be sure to stick around for more updates.
About the author: Ali Salman is a technology reporter for Wccftech mobile section with a specialized focus on Apple and the intellectual property that drives mobile innovation. He has cultivated a unique expertise in analyzing and deconstructing complex technology patents, translating dense legal and technical documents into clear, insightful reports on future products.
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