Warren Buffett has officially announced he will retire as CEO of Berkshire Hathaway and cease writing the annual shareholder letter and speaking at the annual meeting by the end of the year. In his farewell letter, dated November 10, 2025, Buffett reflected on his life in Omaha, his close partnership with the late Charlie Munger, and his enduring gratitude for the city that served as the foundation for his success.
He confirmed that Greg Abel will succeed him, praising Abel for having “more than met the high expectations” and proving to be “a very fast learner.” Buffett also revealed a major stock conversion, turning 1,800 Class A shares into 2.7 million Class B shares, which he then distributed among four foundations. He stated he will hold onto his remaining Class A shares to give investors time to build confidence in Abel’s leadership.
Key Takeaways from the Letter:
- Future Involvement: Buffett intends to stay involved only through his annual Thanksgiving messages, stepping entirely away from a formal leadership role.
- Message to Heirs: He shared a personal message to his children, noting they need not achieve miracles, only “improve somewhat upon what is generally achieved.”
- The New Focus: Attention now shifts entirely to legacy, succession, and maintaining the unique culture Buffett built over decades.
This moment marks a significant shift in one of the most storied careers in investing. As one era ends, a carefully planned new one begins.
