Buffett's Farewell Message Reveals What's Next for Berkshire Hathaway—And Your Portfolio

The Oracle Steps Back, but the Machine Stays On

After 60 years at the helm, Warren Buffett finally decided it was time to let go. In November 2025, through Berkshire Hathaway’s corporate website, the 95-year-old investment legend announced his farewell message to shareholders—and it wasn’t what many expected. Instead of a dramatic exit, Buffett is going “quiet.” No more annual shareholder letters (a tradition since 1977). No more endless talking at the annual meeting. No more dominating the narrative.

But here’s the thing: Berkshire Hathaway is not disappearing with him. Greg Abel, who’s been working alongside Buffett for nearly two decades, takes over as CEO. And based on everything Buffett said, the machine will keep running much the same way it always has.

What Buffett Is Actually Leaving Behind

Let’s be clear about what Buffett’s farewell message actually means. He’s not abandoning ship entirely. Instead, he’s shifting gears. The legendary investor will still communicate through an “annual Thanksgiving message”—a tradition he started in 2024. So shareholders aren’t getting radio silence; they’re getting a more measured, selective dose of Buffett wisdom once a year.

More importantly, Buffett is keeping a large stake of Class A Berkshire shares—the ones with voting rights. Translation: he’s keeping his hand on the wheel until the market is convinced Abel is the real deal. This isn’t just a symbolic move. It’s Buffett saying, “I believe in this guy, but I’m not disappearing completely.”

The annual shareholders meeting, which draws nearly 20,000 devotees to Omaha each May—“Woodstock for capitalists,” as it’s known—will now be presided over by Abel. The event isn’t going anywhere; it’s just changing who’s in charge.

The Succession Plan: Proven and Patient

Here’s what makes this transition different from typical corporate handoffs. Abel hasn’t been handed the keys overnight. The two have been working together for years, and Buffett has made it crystal clear that Abel won’t be making radical changes to either Berkshire’s investing philosophy or how it deploys capital. This isn’t a rupture; it’s a continuation.

Buffett also painted a picture of what he hopes the future looks like: Abel leading Berkshire for “several decades,” with the company needing only five or six CEOs over the next hundred years. That’s Buffett’s way of saying he’s built something that transcends any one person—including himself.

In his farewell message, Buffett also reflected on his roots. He bought his “first and only home” in Omaha back in 1958, and in the 1990s, Greg lived just a few blocks away on Farnam Street. For Buffett, thinking long-term and building deep relationships aren’t just philosophy—they’re embedded in the culture.

Investment Implications: Stability Over Fireworks

So what does Buffett’s farewell message mean for your portfolio? The reality is less exciting than some might hope. This letter wasn’t packed with new investment ideas. But that’s actually fine—Berkshire itself is the idea.

Berkshire owns massive stakes in big-name tech companies like Apple and recently added Alphabet to its portfolio. That Alphabet move is particularly interesting. For years, Buffett was hesitant about tech stocks. The fact that Berkshire is now increasing its tech exposure suggests something has shifted in how the company thinks about the future.

But the broader point matters more: Berkshire is one of the cleanest ways to get diversified exposure to some of America’s best corporations without having to pick individual winners and losers yourself.

The Reality Check: Berkshire Isn’t Immune to Volatility

Here’s where Buffett’s farewell message gets real. He acknowledged that Berkshire, like any stock, could fall 50% at some point. This has happened three times during his 60-year tenure. The stock market is unpredictable, even for the best-managed companies.

But—and this is crucial—Buffett also said something more telling: “Berkshire has less chance of a devastating disaster than any other business I can think of.” In a market where speculation and greed seem to be running high (AI buildouts, thousands of cryptocurrencies, less financial oversight), that’s not a small thing. Berkshire is built with resilience in mind.

Buffett’s own assessment was that Berkshire’s businesses have “moderately better-than-average prospects,” though size is becoming a constraint. When you’re managing that much capital, even great returns look modest compared to what a smaller company might achieve.

The Bottom Line: A Company Built to Last

Buffett has spent six decades constructing a company that can outlast him. His farewell message isn’t a goodbye; it’s a handoff to someone he trusts to keep that legacy intact. The annual shareholder meeting continues. The Thanksgiving messages will keep coming. The investing philosophy stays the same. Greg Abel gets his chance to lead.

For investors worried about what happens after Buffett, the answer is simpler than you might think: not much changes. The machine Buffett built is designed to keep running, with or without him at the helm. That’s arguably his greatest achievement—and what his farewell message really communicates.