Overview
- Warren Buffett said he will step down as Berkshire Hathaway CEO at year-end and remain chairman, with Greg Abel taking over as CEO on January 1, 2026.
- Buffett will stop writing Berkshire’s annual report letter and speaking at the annual meeting, but he will continue a yearly Thanksgiving message to shareholders.
- He converted 1,800 Class A shares into 2.7 million Class B shares and donated them to four family foundations, a gift worth about $1.35 billion, and he plans to accelerate further lifetime giving from a roughly $149 billion stake.
- Buffett will retain a significant amount of Class A shares until shareholders gain confidence in Abel, offering a strong endorsement that Abel has exceeded his expectations.
- He noted he generally feels good and still works five days a week, as Berkshire enters the handover with record cash reserves and shares that have recently lagged the broader market.