Warren Buffett Announces Retirement and Historic Philanthropic Commitment
After more than six decades of remarkable success in finance and business, 95-year-old billionaire Warren Buffett has declared his retirement from writing the annual report for Berkshire Hathaway. He will hand over leadership of the company to Vice Chairman Greg Abel by the end of this year.
In a surprising and poignant announcement, Buffett revealed plans to significantly increase his charitable donations, stating he will donate his remaining shares of the company, valued at approximately $149 billion.
Known for his sharp wit, Buffett stated in a press release issued on November 10, 2025:
"I will no longer write the annual report for Berkshire or elaborate at the annual meeting. As the Brits say, I’ll be keeping mum... more or less."
He expressed confidence in his successor, Greg Abel, praising his "exceptional management skills, unwavering determination, and rare transparency," and expressed hope that Abel will lead the company into a successful future.
* A Journey of Luck and Lessons
Buffett reflected on what he termed a "journey of luck and longevity," expressing gratitude for reaching 95 years old:
"When I was young, the odds were not in my favor."
He reminisced about his childhood in Omaha, Nebraska, where he nearly lost his life to appendicitis in 1938, adding:
"I was a boy dreaming of a sled, a bicycle, a baseball glove, and an electric train, and those were our big dreams back then."
* A Tribute to Charlie Munger
Buffett dedicated much of his message to honoring his late friend and partner, Charlie Munger, describing him as "an older brother and an unmatched mentor," stating:
"For over 60 years, Charlie had a profound impact on my life. We never argued to the point of fighting, and he never said, 'I told you so.'"
He also acknowledged other influential figures in his career, including Stan Lipsey, Walter Scott Jr., and Don Keough, noting that starting in Omaha was pivotal to his success and that of Berkshire:
"I have been lucky from the moment of my birth."
* Luck, Humility, and Humanity
Despite his humorous take on life’s ups and downs, Buffett emphasized the role of luck, stating:
"Anyone reaching an advanced age like mine needs a considerable amount of luck, from surviving falls to avoiding accidents and disasters. We must recognize that many leaders and wealthy individuals have had a disproportionate share of luck compared to others."
Regarding the leadership transition, Buffett expressed complete confidence in Greg Abel to take on the responsibilities of the company and the shareholders' investments:
"I cannot find anyone I trust more to take on this responsibility."
He concluded his message with wisdom that blends human values and his characteristic sarcasm:
"Greatness is not measured by wealth, fame, or power, but by your ability to help others. Kindness is free but priceless. And I wish everyone a happy Thanksgiving... yes, even to the annoying people; change is always possible."
