$1.3 billion of stock given to his family’s network of charities by philanthropist Warren Buffett
Warren Buffett used his annual Thanksgiving message to signal the clearest turn yet from empire-builder to full-time philanthropist.
The 95-year-old investor said he will step down as chief executive of Berkshire Hathaway at the end of this year, endorsing vice-chair Greg Abel to lead the conglomerate while he remains as chairman.
He told shareholders that he will maintain a significant personal stake to steady the transition and will scale back public commentary, a shift he described as “going quiet.”
The letter doubled as a giving update.
Buffett disclosed that he has transferred more than $1.3 billion of Berkshire stock to his family’s network of charities, continuing a tradition of Thanksgiving-week distributions that he said he intends to accelerate.
The latest gifts were made to the Susan Thompson Buffett Foundation and to foundations run by his three children, reinforcing a longstanding plan to direct most of his fortune to philanthropy while his heirs are in their prime working years.
Buffett framed the donations and the leadership transition as complementary decisions rather than a retreat.
He praised Abel as a tireless and candid operator and said Berkshire’s prospects remain sound, adding that his own shareholdings will not be pared back quickly.
Investors were told to expect fewer set-piece appearances from him, including an end to the decades-long practice of penning the annual shareholder letter and anchoring the marathon Q&A at Berkshire’s spring meeting.
In place of those rituals, he plans to keep writing a shorter personal Thanksgiving note each year.
The tone of the message blended legacy, continuity, and a sense of urgency.
Buffett nodded to age and luck, saying plainly that time argues for accelerating the movement of capital from his Berkshire stake into the hands of grantmakers who can deploy it now.
He cast the gifts as part of a broader philosophy—give while living, trust capable stewards, and avoid the distractions of envy and short-termism that he believes have crept into corporate life.
The letter’s themes echoed familiar Buffettism yet marked a more personal coda to his six-decade run at the top of Berkshire.
For the philanthropy world the number matters, but so does the structure. Routing stock into family-led foundations highlights the importance of governance and succession in modern mega-giving, with each entity pursuing distinct priorities while sharing the Buffett name and legacy.
The move also keeps most of the economic exposure in Berkshire until those foundations choose to sell, a design that has long tied his charitable timetable to his confidence in the company.
By accelerating transfers now, Buffett is putting more resources under the control of his chosen managers while the transition at Berkshire proceeds under Abel.
For Berkshire, the message is stability.
Abel will take over the annual letters and shareholder meetings, and Buffett will remain a visible owner even as he recedes from the microphone.
Shareholders have been informed that the headquarters culture and capital discipline will remain in place, with Omaha remaining at the center of operations and only a handful of CEOs likely to be needed over the next century.
The famous communicator is easing into a quieter role.
Still, the signal he wanted to send this November was unambiguous: the business is prepared for its next chapter, and the giving is about to move faster.