Warren Buffett Announces Retirement From Berkshire Hathaway, Says He’s “Going Quiet”

Warren Buffett, the legendary investor and longtime CEO of Berkshire Hathaway, announced he will step down at the end of this year, saying he plans to “go quiet” after one of the most influential tenures in business history.

In his final annual message to shareholders, Buffett, 95, said he will no longer write his widely followed letters but will continue sending a Thanksgiving message. He also revealed plans to accelerate his charitable giving, donating the $149 billion worth of Berkshire Hathaway stock he still owns to family foundations.

Buffett’s successor, Greg Abel, 63, has served as vice chairman of Berkshire’s non-insurance operations since 2018 and was formally designated as the company’s next CEO in 2021. Buffett praised Abel’s leadership, saying he “has more than met the high expectations I had for him.”

Buffett shared that while he still feels generally healthy, age has slowed him down. He said he continues to work at the office five days a week but is preparing to focus his remaining years on philanthropy. Recently, Buffett converted 1,800 Berkshire shares, valued at $1.35 billion, into B-class stock and donated them to four family foundations.

Known as the “Oracle of Omaha,” Buffett has built Berkshire Hathaway into one of the world’s most valuable companies, with a market capitalization of around $1 trillion. The company’s shares are up more than 10% this year.

Buffett acknowledged that Berkshire’s enormous size may make it difficult to outperform smaller firms in the future but expressed confidence in its long-term strength. Over the decades, Buffett’s folksy wisdom, steady investing philosophy, and signature appearances at Berkshire’s annual “Woodstock for Capitalists” gatherings made him a cultural and financial icon.

As he steps back from the spotlight, Buffett leaves behind a legacy defined by discipline, patience, and a deep belief in American enterprise.

Credit: CNN Newsource

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