On his last day as CEO of Berkshire Hathaway, FOX Business host Charles Payne reflected on Warren Buffett’s accomplishments in “making money.”
Berkshire Hathaway stock fell the next day on Friday. CEO Warren Buffett Retired from the company after 60 years of activity.
The 95-year-old officially resigned on Thursday and was replaced on Friday by Greg Abel, who joined Berkshire in 2000 and served as vice chairman of the company’s board.
In Friday afternoon trading, Berkshire Hathaway’s Class A shares were down 1.5% by 3pm ET.
In Warren’s final year as CEO, the conglomerate 10.9% increaseaccording to CNBC.
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Berkshire Hathaway’s stock price fell on Friday, a day after CEO Warren Buffett stepped down after 60 years in office. (Daniel Zushnik/WireImages/Getty Images)
“Berkshire is less likely to suffer a catastrophic disaster than any other company I know,” Buffett wrote in his farewell letter to shareholders in November. “And Berkshire has a management team and board that are more shareholder-oriented than other companies. Any It’s a company I know well (and have seen a lot).
“Berkshire will always be managed in a way that makes it an asset of the United States and avoids activities that would lead to petitioners. Over time, our managers should become quite wealthy — they have important responsibilities — but we do not aspire to dynastic wealth or ostentatious wealth.”
On a more personal note, at the end of his long letter he advised, “Greatness is… do not have It does so by amassing large sums of money, enormous propaganda, or great power in government. When you help someone in any of the thousands of ways, you help the world. Kindness doesn’t cost money, but it’s also something you can’t spend money on. Whether you’re religious or not, it’s hard to break the Golden Rule as a guide to behavior. ”
Buffett also praised Abel.
“Greg Abel has more than lived up to the high expectations I had for him when I first thought he should be Berkshire’s next CEO,” he wrote. “He understands many of our businesses and people much better than I do, and he learns things very quickly that many CEOs don’t even consider.
On Friday, Greg Abel officially became Berkshire Hathaway’s CEO. (Dan Brouillette/Bloomberg via Getty Images)
Warren Buffett writes final letter as Abel prepares to take over
“Whether it’s a CEO, a management consultant, an academic, or a member of the government, I can’t think of anyone I would choose to manage your or my savings over Greg.”
Buffett plans to remain chairman.
Buffett has been preparing Abel as his successor for years, telling CNBC in 2021 that “the board members agree that if something were to happen to me tonight, Greg would take over tomorrow morning.”
Shareholders attend Berkshire Hathaway’s annual shareholder meeting in Omaha, Nebraska, May 3, 2025. (Reuters/Brendan McDiarmid)
he he announced that he would resign At the end of the year, in May, he told the audience at the company’s annual general meeting, “At the end of the year, I think it’s time for Greg to become CEO of the company.”
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The 95-year-old took over the reins of Berkshire in 1965 with his business partner, the late Charlie Munger, whose then-failing textile company.
The conglomerate is now worth more than $1 trillion, and Buffett is worth more than $168 billion, but he still lives a wealthy life. nebraska home He bought it in 1958 for $31,500.
