Warren Buffett, in his final shareholder letter as Chief Executive Officer of Berkshire Hathaway, told investors on Monday that he will largely “go quiet” once he steps down at the end of 2025.
After nearly 60 years at the helm, the 94-year-old billionaire investor will no longer pen the annual letter that has accompanied Berkshire’s financial report since 1965, one of the most widely read corporate documents in the world.
Buffett confirmed that his successor, Greg Abel, will assume leadership of Berkshire Hathaway and continue the tradition of writing to shareholders.
However, he said he will still send his personal Thanksgiving note each year to his children and shareholders.
Buffett’s annual letters have long transcended corporate communication. Blending business insights, investment philosophy, personal anecdotes and humour, the letters became essential reading for global investors.
In his parting note, released Monday, Buffett reflected on business, ageing and philanthropy with the candour and wit that have defined his writing.
He reiterated his commitment to charity, confirming plans to donate the remaining $149 billion in Berkshire Hathaway stock he still holds.
The billionaire offered a brief but candid health update.
“To my surprise, I generally feel good,” Buffett wrote. “Though I move slowly and read with increasing difficulty, I am at the office five days a week where I work with wonderful people.”
Acknowledging the urgency of time, Buffett revealed he had converted 1,800 Class A shares, valued at about $1.35 billion, into lower-priced Class B shares and donated them to four family foundations.
“To improve the probability that they will dispose of what will essentially be my entire estate before alternate trustees replace them, I need to step up the pace of lifetime gifts to their three foundations,” he explained.
Despite the transition, Buffett said his optimism for Berkshire remains unchanged. He plans to retain a “significant amount” of Class A shares until shareholders feel fully confident in the leadership shift.
Buffett praised Abel, who joined Berkshire in 2000 when the company acquired his energy business, as “a great manager, a tireless worker and an honest communicator.”
“Wish him an extended tenure,” Buffett added. “My hope is that his health remains good for several decades.”
Abel will oversee a sprawling conglomerate spanning railways, utilities, retail, insurance and more. Berkshire's Class A shares closed Friday at $748,320 apiece, a testament to the empire Buffett built through disciplined investing and steady leadership.
Buffett closed his final letter not with celebration, but with humility, a fitting mark of a leader whose greatest legacy lies not only in wealth creation but in wisdom shared.
