Buffett Reveals Transition Plans as Greg Abel Readies to Lead Berkshire
The 94-year-old billionaire has helmed Berkshire Hathaway for 60 years. (Credit: X / @HiddenGemsInves and X / @DrParsaSalehi)
Legendary investor Warren Buffett will officially step down on December 31, 2025, marking the end of a remarkable career that has spanned over six decades.
In a letter to shareholders published in November, Buffett announced that he would be passing the responsibilities of writing Berkshire Hathaway’s annual report and addressing shareholder meetings to his successor, Greg Abel.
Buffett, the 95-year-old chairman and CEO of Berkshire Hathaway, expressed his sentiments, stating, “I will no longer be writing Berkshire’s annual report or talking endlessly at the annual meeting. As the British would say, I’m ‘going quiet.’ Sort of.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BRK.B | BERKSHIRE HATHAWAY INC. | 501.05 | +2.75 | +0.55% |
Buffett praised Abel, stating, “Greg Abel will become the boss at yearend. He is a great manager, a tireless worker, and an honest communicator. Wish him an extended tenure.” Abel was chosen by Buffett and the board as his successor.
He also mentioned, “I will continue talking to you and my children about Berkshire via my annual Thanksgiving message. Berkshire’s individual shareholders are a very special group who are unusually generous in sharing their gains with others less fortunate. I enjoy the chance to keep in touch with you,” he added.
BUFFETT DONATES $6B IN BERKSHIRE STOCK TO 5 FOUNDATIONS: LIFETIME GIVING TOPS $60B
Berkshire Hathaway CEO Warren Buffett sent a letter to shareholders discussing his plans as he prepares to step down. (Christopher Goodney/Bloomberg via Getty Images)
Buffett expressed confidence in Abel to lead Berkshire Hathaway, stating, “He has more than met the high expectations I had for him when I first thought he should be Berkshire’s next CEO.”
WARREN BUFFETT’S FINAL LETTER TO SHAREHOLDERS: READ HERE
Warren Buffett selected company insider Greg Abel to succeed him as CEO of Berkshire Hathaway. (Daniel Acker/Bloomberg via Getty Images)
Buffett emphasized Abel’s understanding of the company’s operations, stating, “He understands many of our businesses and personnel far better than I now do, and he is a very fast learner about matters many CEOs don’t even consider. I can’t think of a CEO, a management consultant, an academic, a member of government – you name it – that I would select over Greg to handle your savings and mine.”
In his letter, Buffett also mentioned his plans to accelerate the sale of his Berkshire shares to increase his charitable contributions to his children’s foundations. He clarified that these transactions “in no way reflect any change in my views about Berkshire’s prospects.”
WHO IS GREG ABEL, WARREN BUFFETT’S SUCCESSOR AT BERKSHIRE HATHAWAY?
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BRK.A | BERKSHIRE HATHAWAY INC. | 752,000.00 | +5,000.00 | +0.67% |
He also indicated that he would retain some of his “A” shares of Berkshire stock “until Berkshire shareholders develop the comfort with Greg that Charlie [Munger] and I long enjoyed. That level of confidence shouldn’t take long.”
Buffett expressed optimism about Berkshire’s future, stating that the conglomerate “has moderately better-than-average prospects, led by a few non-correlated and sizable gems,” and that it “has less chance of a devastating disaster than any business I know.”
Known as the “Oracle of Omaha,” Buffett reflected on his fortunate journey in business and life. He encouraged readers to learn from their mistakes and to “move on. It is never too late to improve.”
BUSINESS LEADERS REACT TO WARREN BUFFETT STEPPING DOWN AS CEO OF BERKSHIRE HATHAWAY: ‘ONLY G.O.A.T’
Buffett offered advice to readers in his shareholder letter. (Daniel Zuchnik/WireImage)
Buffett shared his philosophy on greatness, stating, “Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government. When you help someone in any thousands of ways, you help the world. Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior.”
He reflected on his own journey, admitting, “I write this as one who has been thoughtless countless times and made many mistakes but also became very lucky in learning from some wonderful friends how to behave better (still a long way from perfect, however). Keep in mind the cleaning lady is as much a human being as the Chairman.”
Wishing readers a “very happy Thanksgiving,” he emphasized the importance of gratitude and self-improvement, stating, “Choose your heroes very carefully and then emulate them. You will never be perfect, but you can always be better.”
The 94-year-old billionaire has helmed Berkshire Hathaway for 60 years. (Credit: X / @HiddenGemsInves and X / @DrParsaSalehi)
Legendary investor Warren Buffett will officially step down on December 31, 2025, marking the end of a remarkable career that has spanned over six decades.
In a letter to shareholders published in November, Buffett announced that he would be passing the responsibilities of writing Berkshire Hathaway’s annual report and addressing shareholder meetings to his successor, Greg Abel.
Buffett, the 95-year-old chairman and CEO of Berkshire Hathaway, expressed his sentiments, stating, “I will no longer be writing Berkshire’s annual report or talking endlessly at the annual meeting. As the British would say, I’m ‘going quiet.’ Sort of.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BRK.B | BERKSHIRE HATHAWAY INC. | 501.05 | +2.75 | +0.55% |
Buffett praised Abel, stating, “Greg Abel will become the boss at yearend. He is a great manager, a tireless worker, and an honest communicator. Wish him an extended tenure.” Abel was chosen by Buffett and the board as his successor.
He also mentioned, “I will continue talking to you and my children about Berkshire via my annual Thanksgiving message. Berkshire’s individual shareholders are a very special group who are unusually generous in sharing their gains with others less fortunate. I enjoy the chance to keep in touch with you,” he added.
BUFFETT DONATES $6B IN BERKSHIRE STOCK TO 5 FOUNDATIONS: LIFETIME GIVING TOPS $60B
Berkshire Hathaway CEO Warren Buffett sent a letter to shareholders discussing his plans as he prepares to step down. (Christopher Goodney/Bloomberg via Getty Images)
Buffett expressed confidence in Abel to lead Berkshire Hathaway, stating, “He has more than met the high expectations I had for him when I first thought he should be Berkshire’s next CEO.”
WARREN BUFFETT’S FINAL LETTER TO SHAREHOLDERS: READ HERE
Warren Buffett selected company insider Greg Abel to succeed him as CEO of Berkshire Hathaway. (Daniel Acker/Bloomberg via Getty Images)
Buffett emphasized Abel’s understanding of the company’s operations, stating, “He understands many of our businesses and personnel far better than I now do, and he is a very fast learner about matters many CEOs don’t even consider. I can’t think of a CEO, a management consultant, an academic, a member of government – you name it – that I would select over Greg to handle your savings and mine.”
In his letter, Buffett also mentioned his plans to accelerate the sale of his Berkshire shares to increase his charitable contributions to his children’s foundations. He clarified that these transactions “in no way reflect any change in my views about Berkshire’s prospects.”
WHO IS GREG ABEL, WARREN BUFFETT’S SUCCESSOR AT BERKSHIRE HATHAWAY?
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BRK.A | BERKSHIRE HATHAWAY INC. | 752,000.00 | +5,000.00 | +0.67% |
He also indicated that he would retain some of his “A” shares of Berkshire stock “until Berkshire shareholders develop the comfort with Greg that Charlie [Munger] and I long enjoyed. That level of confidence shouldn’t take long.”
Buffett expressed optimism about Berkshire’s future, stating that the conglomerate “has moderately better-than-average prospects, led by a few non-correlated and sizable gems,” and that it “has less chance of a devastating disaster than any business I know.”
Known as the “Oracle of Omaha,” Buffett reflected on his fortunate journey in business and life. He encouraged readers to learn from their mistakes and to “move on. It is never too late to improve.”
BUSINESS LEADERS REACT TO WARREN BUFFETT STEPPING DOWN AS CEO OF BERKSHIRE HATHAWAY: ‘ONLY G.O.A.T’
Buffett offered advice to readers in his shareholder letter. (Daniel Zuchnik/WireImage)
Buffett shared his philosophy on greatness, stating, “Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government. When you help someone in any thousands of ways, you help the world. Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior.”
He reflected on his own journey, admitting, “I write this as one who has been thoughtless countless times and made many mistakes but also became very lucky in learning from some wonderful friends how to behave better (still a long way from perfect, however). Keep in mind the cleaning lady is as much a human being as the Chairman.”
Wishing readers a “very happy Thanksgiving,” he emphasized the importance of gratitude and self-improvement, stating, “Choose your heroes very carefully and then emulate them. You will never be perfect, but you can always be better.”
