In a letter to shareholders and the wider public, Berkshire’s founder and CEO laid out his thoughts and plans for the future management of one of America’s largest investment conglomerates, which included a stepping up of contributions to his children’s foundations.
To make the contributions, Buffett converted 1,800 Class A shares of Berkshire Hathaway into 2,700,000 Class B shares—out of which 1.5 million shares ($746.7 million) were given to the Susan Thompson Buffett Foundation, and 400,000 shares ($199.1 million) were given each to the Sherwood Foundation, NoVo Foundation, and the Howard G Buffett Foundation.
Alongside the philanthropic initiative, the letter reaffirmed the Buffett plans to retire from the role of CEO as well, signaling this piece of Berkshire’s official communication could be his last.
“I will no longer be writing Berkshire’s annual report or talking endlessly at the annual meeting. As the British would say, I’m “going quiet,”” wrote Buffett
Now 95 years old, Buffett first announced his plans to step down in May this year at the company’s annual shareholder’s meeting.
CEO responsibilities are to be passed on to Vice Chairman Greg Abel from 2026 onwards.
He also made reference to his old age in the letter, saying “I was late in becoming old – its onset materially varies – but once it appears, it is not to be denied,”
“To my surprise, I generally feel good. Though I move slowly and read with increasing difficulty, I am at the office five days a week where I work with wonderful people. Occasionally, I get a useful idea or am approached with an offer we might not otherwise have received. Because of Berkshire’s size and because of market levels, ideas are few – but not zero,”
The update comes a month after Berkshire Hathaway acquired chemicals division OxyChem for a total of $9.7 billion, which will likely be the last time the Sage of Omaha overlooks a deal of such magnitude.
Buffett took over Berkshire Hathaway in 1965, after years of buying shares from 1962. Since taking over the company, he has grown it over a period of six decades into a conglomerate valued at $1.08 trillion according to marketcapwatch.com.
His reputation for being able to identify sound investments coupled with his successful track record in business earned him media monikers such as ‘Sage of Omaha’ and ‘Oracle of Omaha’.
In public markets, Berkshire Hathaway’s largest stakes include Apple, Bank of America, American Express, Coca-Cola, and Chevron. Berkshire Hathaway also now sits on one of the largest cash piles among S&P500 firms, with a record position of $381.7 billion noted in the company’s Q3 2025 report.
The company does not take part in major acquisitions often, a strategy which Buffett attributes to Berkshire Hathaway’s large size and the current market, stating in the letter “ideas are few – but not zero,”