Berkshire CEO Warren Buffett Says “I’m Going Quiet,” Passing Annual Reports to Successor
Oracle of Omaha ends 60-year tradition of annual letters.
Warren Buffett, the Chairman and Chief Executive Officer of Berkshire Hathaway, has formally announced in his concluding letter to shareholders that he will cease authoring the company’s annual correspondence upon stepping down from the CEO role at the end of 2025. The 94-year-old investor, whose missives have been a cornerstone of global financial literature since 1965, stated unequivocally: “I’m going quiet.” The tradition will now pass to his designated successor, Gregory Abel, who assumes leadership in January 2026.
In the letter released on Monday, Buffett disclosed that while he will relinquish the annual report’s narrative section, he intends to continue his personal Thanksgiving message—an intimate tradition sent annually to his children and select shareholders. He provided a candid health update, noting that despite slower movement and increasing difficulty with reading, he maintains a full workweek at Berkshire’s Omaha headquarters, supported by a dedicated team he described as “wonderful people.” The disclosure underscores his commitment to continuity even as he prepares for transition.
A significant portion of the letter addressed accelerated philanthropic commitments. Buffett revealed that he has converted 1,800 Class A shares—valued at approximately $1.35 billion—into Class B shares and donated them immediately to four family-run foundations. This move is designed to ensure the orderly distribution of his remaining $149 billion Berkshire holdings during his lifetime, thereby reducing uncertainty for successor trustees. He emphasized the need to “step up the pace” of lifetime giving to align with governance timelines.
Also Read: Tesla Shareholders Reject Funding Tie-Up With Elon Musk’s xAI Despite Majority Support
Buffett expressed unwavering confidence in Abel, 63, who has been with Berkshire since the 2000 acquisition of MidAmerican Energy. Describing Abel as a superior operational leader with deep institutional knowledge, Buffett wrote: “He understands many of our businesses and personnel far better than I now do.” He retained a substantial block of high-voting Class A shares to provide stability during the leadership handover, predicting that investor confidence in the new regime “shouldn’t take long.”
Berkshire Hathaway, under Buffett’s stewardship, has evolved from a struggling textile manufacturer into a diversified conglomerate encompassing railroads, insurance, energy, and consumer brands, with Class A shares closing at $748,320 on Friday. The letter concluded without ceremony, reflecting Buffett’s characteristic restraint—a quiet acknowledgment that his most enduring contribution lies not merely in capital allocation, but in the principles of integrity, patience, and long-term thinking imparted over six decades.
Also Read: Musk Wins Shareholder Backing for Historic $1 Trillion Tesla Compensation Plan
