Warren Buffett, the CEO of Berkshire Hathaway and also known as the Oracle of Omaha, has decided to step back after nearly six decades of writing the company’s annual letters, a tradition that shaped global investing wisdom and defined modern financial storytelling.
Buffett said he will continue to stay in touch with shareholders through a Thanksgiving message, calling them a special group known for sharing their gains generously and supporting long-term investing values.
In his letter, Buffett mentioned he would stop preparing Berkshire’s annual report and speaking at length during company meetings, adding with humour that, as the British would say, he’s “going quit.”
Buffett announced that his long-time deputy, Greg Abel, will officially assume the role of Berkshire Hathaway’s chief executive by year-end, marking the close of one of corporate history’s most enduring partnerships.
In his final note, Buffett expressed deep gratitude for reaching 95, recalling a near-fatal illness in 1938 and acknowledging the luck and circumstances that allowed him to live a long, fulfilling life.
Reflecting on his roots, Buffett said both he and Berkshire Hathaway flourished because of their Omaha base, crediting the city for shaping his business approach, personal values, and lifelong belief in simplicity.
Buffett fondly remembered Charlie Munger, his neighbour and lifelong business partner, saying Munger deeply influenced him and was both a brilliant teacher and a protective elder brother who never once said, “I told you so.”
Buffett reflected on life’s fairness, admitting that by being born a healthy white male in 1930s America, he enjoyed privileges many never had. He also spoke warmly of his children, advising them to embrace failures and focus on doing slightly better than most.
Reaffirming his lifelong commitment to philanthropy, Warren Buffett said his total charitable giving has now exceeded $50 billion, directed largely through the Bill and Melinda Gates Foundation and his family trusts. He ended his note with humility and gratitude, rather than forecasts or financial reflections.
