The 95-year-old investing legend stated in his annual Thanksgiving letter to shareholders that he plans to hold on to his Class A shares until Berkshire investors become comfortable with his successor, Greg Abel, who is set to take over as CEO in January.
“That level of confidence shouldn’t take long,” Buffett wrote in the letter, adding, “My children are already 100% behind Greg, as are the Berkshire directors.”
The Class A shares of Berkshire carry 10,000 times the voting rights of the more commonly held Class B shares. Buffett currently controls around 30% of the company’s total voting shares, making him the largest single shareholder.
His decision to step down, originally announced in May 2025, had caused concern among retail and institutional investors alike, many of whom have long admired his consistent, long-term investing approach.
Popularly referred to as the “Oracle of Omaha”, Buffett is widely known for avoiding speculative investments and focusing on long-term value, often communicating his investment rationale through clear and relatable commentary.While Buffett noted that he is generally in good spirits, he acknowledged signs of aging. “I move slowly and read with increasing difficulty,” he shared in the letter. “I was late in becoming old – its onset materially varies – but once it appears, it is not to be denied.”Although this year will mark the end of Buffett’s authorship of Berkshire Hathaway’s annual report, he confirmed that he will continue sharing an annual Thanksgiving message with shareholders going forward.
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