Buffett Steps Back, Berkshire Marches On: Inside the Oracle’s Final Transition

Back on May 3, 2025, Warren Buffett revealed his plan to retire as CEO of Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) by year-end. Now, with 2025 drawing to a close, investors have been eager for clarity—what exactly will Buffett’s role look like going forward, and what does this leadership shift mean for Berkshire as an investment?

Questions have swirled for months:Will Buffett still guide incoming CEO Greg Abel on major investment moves? Will he continue crafting the iconic annual shareholder letter? Will he remain part of the legendary annual meeting known as the “Woodstock for capitalists”? And most importantly—should Berkshire remain a core portfolio holding post-Buffett?

Thankfully, Buffett broke the suspense with a candid letter to shareholders posted on Berkshire’s website on Nov. 10, 2025. He opened with a striking announcement: he will be “going quiet,” officially ending his run as the author of the annual shareholder letter—a tradition he has carried since 1977.

He also explained that he will not “talk endlessly at the annual meeting” anymore. Beginning next year, Greg Abel will lead the event, which drew almost 20,000 shareholders and fans to Omaha this past May. But Buffett didn’t disappear completely—he reassured followers that he will continue sharing his thoughts through an annual Thanksgiving message, a tradition he began in 2024.

For longtime Buffett loyalists—especially those who enjoyed his marathon Q&A sessions and dislike change—this update felt bittersweet. At 95, his decision to “go quiet” naturally carries a sense of finality.

Still, there’s comfort in continuity. Abel and Buffett have worked side-by-side for nearly 20 years, and Abel has already made clear he does not intend to overhaul Berkshire’s investment philosophy or capital allocation strategy. Much of the company’s core identity remains intact.

Buffett’s second Thanksgiving letter this year offered a nostalgic look at his Omaha roots—recalling the purchase of his “first and only home” in 1958 and noting that in the 1990s, Greg Abel lived just blocks away from him on Farnam Street. It was a warm reminder that at the heart of Berkshire lies long-term thinking, deep trust, and relationships built over decades. Buffett even wondered aloud whether Omaha’s water might contain “some magic ingredient.”

Whether or not that’s true, Berkshire’s future now flows steadily from the foundation Buffett built—and the leadership Abel is set to carry forward.