Buffett's firm loses $59 bn in m-cap over his plan to step down

Billionaire investor Warren Buffett-led Berkshire Hathaway lost around $59 billion in market capitalisation as shares fell over 5% on Monday, Reuters reported. The dip came after 94-year-old Buffett announced his plan to step down as the CEO after leading Berkshire for 60 years. Berkshire's Vice Chairman Greg Abel will replace Buffett starting next year.