"The legendary business leader and investor, 95, has transformed Berkshire from a failing textile mill into a $1 trillion conglomerate over the past 60 years by acquiring scores of businesses such as Geico and Dairy Queen, and amassing huge stakes in corporate giants including Coca-Cola and American Express."
"Buffett wrote this week that he would continue writing a Thanksgiving letter as Berkshire's chairman, reflected on his life, and thanked the people and pieces of luck that enabled his extraordinary success. He acknowledged his advantages and trumpeted kindness over wealth, power, and fame. He also reassured Berkshire shareholders that Greg Abel is a worthy successor, and he's as positive about the company's future as ever - even as he plans to accelerate the transfer of his $150 billion fortune to his family's foundations."
Warren Buffett, age 95, is stepping down as Berkshire Hathaway CEO and will remain chairman while endorsing Greg Abel as successor. Berkshire grew from a failing textile mill into a roughly $1 trillion conglomerate through acquisitions like Geico and Dairy Queen and large stakes in Coca-Cola and American Express. Buffett credited luck, health, friendships, and acknowledged advantages while prioritizing kindness over wealth, power, and fame. He plans to accelerate transferring about $150 billion to family foundations. Nine close followers reacted with a mix of sadness, gratitude, and admiration for his humility, strategy, and long-term stewardship.
Read at Business Insider
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