CEO Warren Buffett, 95, officially hands the reins over to his handpicked successor, Greg Abel. The official passing of the torch concludes Buffett's decades-long investing career, one in which he did everything from buying a major US railroad (Burlington Northern) and striking up a friendship with Microsoft (MSFT) co-founder Bill Gates to offering up scores of pithy comments in annual shareholder letters.

If this gives you a little temporary unpopularity with your peer group, the hell with 'em,” Buffett’s former business partner Charlie Munger added.

Warren Buffett is one of those rare billionaires everyone feels like they know. He still lives in the same modest Omaha home he bought in 1958. He eats McDonald's and drinks Cherry Coke like lunch is a personal investment strategy.