Warren Buffett’s final day as chief executive officer of Berkshire Hathaway arrived on Wednesday, Dec. 31, marking the end of an era for the multinational conglomerate.
Buffett, 95, spent decades leading the company before stepping down from the CEO role, according to NBC News. In May 2025—seven months ahead of his departure—he told The Wall Street Journal that retirement wouldn’t mean disengagement from his work.
“I’m not going to sit at home and watch soap operas,” the billionaire said at the time. “My interests are still the same.”
In a farewell letter published last month, Buffett—often referred to as the “Oracle of Omaha”—praised Berkshire’s individual shareholders, calling them “a very special group who are unusually generous in sharing their gains with others less fortunate.”
He also shared several personal and business reflections, including a reminder about basic human dignity. “The cleaning lady is as much a human being as the Chairman,” Buffett wrote.
:max_bytes(150000):strip_icc():focal(749x0:751x2):format(webp)/warren-buffet-3-123125-c07b9ec30cd342d8b21fa17c2ac7b6d0.jpg)
“Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government,” he continued. “When you help someone in any of thousands of ways, you help the world.”
Buffett emphasized the enduring value of kindness, adding, “Kindness is costless but also priceless. Whether you are religious or not, it’s hard to beat The Golden Rule as a guide to behavior.”
Buffett’s investing journey began early. He purchased his first stock in 1942 at age 11, investing $114.75 in Cities Service shares using money he had begun saving at just six years old, according to NBC News. He has used Berkshire Hathaway as his primary investment vehicle since 1964 and became CEO in 1970.
Today, Buffett ranks as the world’s 10th-richest individual, with an estimated net worth of $150 billion, according to Bloomberg.
Leadership of Berkshire Hathaway now passes to Greg Abel, 63, who takes over as CEO while Buffett remains chairman, NBC News reported. Buffett first identified Abel as his eventual successor in May 2021, per CNBC.
In his Nov. 10 letter to shareholders, Buffett expressed confidence in the transition. “Greg Abel will become the boss at yearend. He is a great manager, a tireless worker and an honest communicator. Wish him an extended tenure,” he wrote.
Buffett also used the letter to offer advice shaped by a lifetime of experience, noting he felt better about the second half of his life than the first.
“Don’t beat yourself up over past mistakes—learn at least a little from them and move on,” he wrote. “It is never too late to improve. Get the right heroes and copy them. You can start with Tom Murphy; he was the best.”
