Legendary investor Warren Buffett published his latest annual letter on Thanksgiving

He announced that he is handing over the CEO position of Berkshire Hathaway to Greg Abel starting in 2026. He will no longer write annual reports, which have been published since 1965 and have become a classic of investing, but he will continue to address shareholders in the annual thank you letter.

To give the market time to adapt to the changes, Buffett is leaving part of the class A shares, but has already converted 1,800 shares into 2.7 million class B and transferred >$1.1 billion to four family funds. He is also accelerating the transfer of $149 billion to his children's charitable foundations.

Berkshire is growing at the same time: operating profit +34%, and cash reserves have reached record levels of $381.7 billion.