After decades of being the face, brain, and beating heart of Berkshire Hathaway, Warren Buffett has officially announced he’s stepping down as CEO at the end of this year. Yes, this time it’s real. No, it’s not April Fools.

The announcement came on Saturday, with Buffett saying, “I think the time has arrived where Greg should become the Chief Executive Officer of the company at year-end.”

Buffett, now 94, has been grooming Greg Abel for the top job since at least 2021, when Abel was named his official successor. Investors have known this day would come eventually—but hearing it straight from the Oracle of Omaha still hits differently.

Of course, Buffett being Buffett, he didn’t just hand over the reins and walk away. In true Berkshire fashion, he reinforced his vote of confidence in Abel by pledging to keep his massive personal fortune invested in the company. Translation: “I trust this guy with all my billions.”

Greg Abel, currently overseeing Berkshire’s non-insurance operations, will soon be stepping into one of the most closely watched leadership transitions in corporate America. No pressure, Greg.

As Buffett prepares to exit center stage, he leaves behind a business empire, a loyal shareholder base, and a legacy that’s as much about principles as profits. But if anyone’s up for the job, it’s Abel—and with Buffett still sticking around as a major shareholder and sage-in-residence, Berkshire’s future looks steady.