Warren Buffett, CEO of Berkshire Hathaway, wrote in his annual letter to shareholders that he will be “going quiet” after he steps down as the company’s chief executive at the end of 2025.
In the letter, dated Monday, the 95-year-old said that he will no longer speak at the company’s annual meeting or write his yearly letter. Buffett added that he is now the longest-lived member of his family.
Buffett also said he would be hastening the pace at which he hands over his Berkshire Hathaway shares to family foundations, including ones runs by his family.
The famed investor converted 1,800 of his Class A shares into 2.7 million Class B shares on Monday, a move worth approximately $1.35 billion. Of the shares, 1.5 million was sent to the Susan Thompson Buffett Foundation, and The Sherwood Foundation, The Howard G. Buffett Foundation, and the NoVo Foundation each received 400,000 shares….