Warren Buffett, the man who leads Berkshire Hathaway, said he will stop making the company’s famous yearly letters to people who own shares. He has done this for sixty years. A lot of people in the country saw a big change because of these letters. Buffett said he is “going quiet.” People in business liked these letters as they were one good way to keep in touch.
Warren Buffett says he will stop sending out his yearly letters
In a message, Warren Buffett said that he will not make Berkshire Hathaway’s yearly reports anymore or talk a lot at meetings with shareholders. “I will not be making Berkshire’s yearly report or speaking so much at the yearly meeting,” he said. He also added, “As the British would say, I’m going calm.”
Instead of his yearly letters, Buffett will now communicate with shareholders through Thanksgiving messages — a way, he says, to stay connected with “a very special group who are unusually generous in sharing their gains with others.”
Greg Abel to Take Over as CEO
As part of this transition, Buffett confirmed that his long-time deputy, Greg Abel, will officially take over as chief executive of Berkshire Hathaway in January. “Greg will become the boss at year-end. He is a great manager, a tireless worker, and an honest communicator,” Buffett wrote, expressing complete trust in his successor.
Abel will also assume responsibility for writing shareholder letters and hosting the company’s annual meetings, while Buffett will remain as chairman. To ensure a smooth transition, Buffett noted that he would retain his “A” shares — which carry 10,000 times the voting power of “B” shares — until shareholders feel comfortable with Abel’s leadership.
A Legacy of Wisdom and Gratitude
In his reflective note, Warren Buffett spoke openly about his age and health, saying that while he now moves slowly and reads with “increasing difficulty,” he continues to go to the office every day. “I was late in becoming old… but once it appears, it is not to be denied,” he wrote with characteristic humor.
At 95, Buffett expressed deep gratitude for his long life, recalling a childhood appendicitis scare and saying, “I am grateful and surprised by my luck in being alive at 95. Wow! Thank you, Lady Luck.”
Tribute to Charlie Munger and Lifelong Giving
Buffett gave a warm and honest thank you to his late business partner Charlie Munger. He called him “a big brother who always looked out for me” and “a better teacher.” The way they worked together shaped what Berkshire Hathaway is today. Their work together inspired many people who want to invest.
He said again that he has always wanted to help others. He shared that he has given over $50 billion to good causes so far. A lot of this has been through the Gates Foundation and his family’s trust.
Buffett’s Final Reflection on Berkshire’s Future
Even as he steps back, Warren Buffett offered his honest assessment of Berkshire’s future. He acknowledged that the company’s massive size may limit its potential growth in the years ahead.
“In aggregate, Berkshire’s businesses have moderately better-than-average prospects… however, a decade or two from now, there will be many companies that have done better; our size takes its toll,” he wrote.
Warren Buffett’s Lasting Legacy
As Warren Buffett prepares to hand over leadership to Greg Abel, he leaves behind not just a financial empire, but a legacy built on integrity, discipline, and vision.
His decision to “go quiet” closes a defining chapter in Berkshire Hathaway’s history, yet his influence will continue to echo through generations of investors who learned from “The Oracle of Omaha.”