Warren Buffett Confirms Greg Abel as Successor in Annual Berkshire Letter

The 94-year-old investor reflects on six decades at Berkshire Hathaway, highlights record tax contributions, and reaffirms commitment to long-term investing principles.

Warren Buffett announced in his annual letter that Greg Abel, head of Berkshire's energy division, will soon succeed him as CEO, though Buffett remains chairman for now.
Berkshire Hathaway reported a 71% increase in Q4 operating earnings and $47.4 billion in full-year profit for 2024, with a cash reserve of $334.2 billion.
The company paid a record $26.8 billion in U.S. corporate taxes in 2024, representing 5% of all corporate tax payments nationwide.
Buffett emphasized his long-standing investment philosophy of prioritizing equities in solid businesses and highlighted recent reductions in Berkshire's Apple holdings.
Reflecting on Berkshire's journey, Buffett praised American capitalism while urging the government to ensure fiscal responsibility and maintain currency stability.