Overview
- Warren Buffett said he will stop writing Berkshire Hathaway’s annual report and speaking at the annual meeting, but will continue an annual Thanksgiving message to shareholders and his children.
- He converted 1,800 Class A shares into 2.7 million Class B shares worth about $1.35 billion and pledged them to four family foundations: 1.5 million shares to the Susan Thompson Buffett Foundation and 400,000 each to the Sherwood, Howard G. Buffett, and NoVo foundations.
- Buffett said he will step up lifetime giving so his estate can be distributed by current trustees, stressing that the acceleration does not reflect any change in his view of Berkshire’s prospects.
- He will retain a significant amount of Class A shares for now to preserve voting influence until shareholders grow comfortable with incoming CEO Greg Abel, while remaining as chairman.
- Buffett reaffirmed his confidence in Abel, who is slated to take operational control around year-end or early 2026, and noted he generally feels good despite moving more slowly and reading with increasing difficulty as he continues working in the office five days a week.