Warren Buffett’s November 10, 2025 farewell letter marked the end of an era, as he announced he would be “going quiet” — stepping back from writing Berkshire Hathaway’s annual reports and speaking “endlessly at the annual meeting.”
The statement also confirmed Berkshire’s long-anticipated succession plan, naming Greg Abel as “the boss at year-end.” Buffett praised Abel as “a great manager, a tireless worker, and an honest communicator,” adding that he “has more than met the high expectations” set for him. Buffett emphasized that he would trust no one else to manage shareholders’ savings.
At 95, Buffett reflected on his longevity with humility, saying he was “surprised by my luck” and acknowledging that reaching old age required “a huge dose of good luck.” He credited both his success and Berkshire’s to their “base in Omaha,” admitting that through “dumb luck,” he had “drawn a ridiculously long straw at birth.” Buffett also observed that leaders and “the rich have received far more than their share of luck.”
A large portion of the letter was dedicated to honoring lifelong relationships, particularly his six-decade friendship with Charlie Munger, whom he described as “a better teacher and protective big brother.” He also paid tribute to fellow Omahans Walter Scott Jr., Stan Lipsey, and Don Keough, who played important roles in Berkshire’s journey.
Concluding with characteristic moral clarity, Buffett reminded readers that “greatness does not come about through accumulating great amounts of money.” Instead, he offered a final ethical reflection: “Kindness is costless but also priceless.” He closed with humor and warmth, wishing everyone a happy Thanksgiving — “Yes, even the jerks; it’s never too late to change.”
