Business figures pay tribute to Warren Buffett after retirement announcement

JP Morgan boss says Buffett represents everything good about American capitalism and America itself'

Leading figures in the business world have lined up to pay tribute to Warren Buffett after the 94-year-old announced he would retire as chief executive of Berkshire Hathaway and hand over the reins to his vice-chair, Greg Abel.

Buffett shocked an arena full of shareholders over the weekend when he announced he would step down as the CEO and chair of the trillion-dollar conglomerate at the end of this year.