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Warren Buffett published his latest annual letter to investors.
He announced that in 2026, he will hand over leadership of Berkshire Hathaway to Greg Abel. Since 1965, Buffett has been writing letters to shareholders, which have become a symbol of classic investing.
He has now begun transferring assets: converting 1,800 Class A shares into 2.7 million Class B shares and transferring over $1.1 billion to four family foundations. Simultaneously, he is accelerating the transfer of $X billion to his children's charitable foundations.
Berkshire's financial indicators remain strong: operating profit increased by 34%, and cash holdings reached a record $381.7 billion.