India, Dec. 31 -- Legendary investor Warren Buffett is stepping down as the CEO of Berkshire Hathaway on Wednesday (December 31), bringing to a close a six-decade-long era of transforming a struggling New England textile firm into a massive conglomerate.

Greg Abel will take over Berkshire Hathaway from Buffett, also known as the "Oracle of Omaha". It will surely be challenging to fill the giant void that Buffett will leave behind.

Many regard Buffett as the world's greatest investor after he grew Berkshire from a struggling enterprise that he started buying up for $7.60 a share in 1962, to the massive conglomerate it is today, with shares that now sell for more than $750,000 each. Buffett's personal fortune of Berkshire stock is worth r...