Warren Buffett, the 95-year-old billionaire investor and Chairman of Berkshire Hathaway, has announced he will step down as CEO at the end of 2025, marking the end of a six-decade era that defined modern investing.
Buffett confirmed he will no longer write Berkshire’s annual shareholder letter but will continue to share Thanksgiving messages and expand his philanthropic giving, pledging to donate his remaining $149 billion stake in the company to charitable causes.
His successor, Greg Abel, 63, currently vice chairman overseeing Berkshire’s non-insurance businesses, will officially assume the CEO role in January 2026. Abel was named Buffett’s heir apparent in 2021.
Buffett disclosed that he recently converted 1,800 Class A shares, valued at approximately $1.35 billion, into cheaper Class B shares, donating them to four family foundations. He said this was part of his plan to accelerate lifetime giving before trustees take over his estate.
Despite stepping down, Buffett assured investors of his confidence in Berkshire’s future, saying the company’s Class B shares are up over 10 per cent in 2025, with its market capitalisation surpassing $1 trillion.
“Berkshire’s businesses have moderately better-than-average prospects,” he wrote. “However, our size takes its toll; in a decade or two, many companies will likely outperform us.”
Nicknamed the “Oracle of Omaha,” Buffett built Berkshire Hathaway into one of the world’s most valuable conglomerates, spanning insurance, energy, rail, and consumer goods. His shareholder letters, famous for their wit and wisdom, have guided generations of investors.
While Buffett says he will “go quiet,” his influence, and the company’s annual “Woodstock for Capitalists” shareholder gathering, will continue under Abel’s leadership.
“The company will move on,” Buffett concluded. “But I’ll still be around, cheering from the sidelines.”
