Berkshire Hathaway's New CEO Vows Continuity Under Buffett's Legacy

Greg Abel promises Berkshire will maintain financial strength and investment approach despite leadership transition.

Published on Mar. 3, 2026

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In his first shareholder letter as Berkshire Hathaway's CEO, Greg Abel paid tribute to his predecessor Warren Buffett and promised the conglomerate won't retreat from investing or make significant changes in how it operates. Abel said Berkshire's large cash reserves are a strategic asset to be deployed at the right time, and the company will avoid buying businesses that could undermine its reputation.

Why it matters

The letter provides insight into how Berkshire Hathaway will be run under Abel's leadership, as investors watch closely for any shifts from the Buffett era. Abel's commitment to Berkshire's long-term investment approach and financial discipline is seen as an effort to maintain stability and investor confidence during the leadership transition.

The details

In the letter, Abel discussed some of Berkshire's major investments, including its stakes in Apple, American Express, and several Japanese trading houses. He also noted Berkshire took a $4.5 billion write-down on its Kraft Heinz and Occidental Petroleum investments. Abel said Berkshire will not start providing quarterly commentary, as it maintains a long-term focus. The letter took a factual, unemotional tone, in contrast to Buffett's more folksy shareholder communications.

  • Berkshire Hathaway reported $373.3 billion in cash at the end of 2025, down slightly from $382 billion in the third quarter.

The players

Greg Abel

The new CEO of Berkshire Hathaway, who took over from Warren Buffett.

Warren Buffett

The legendary investor and former CEO of Berkshire Hathaway, who remains as the company's chairman and largest shareholder.

Ajit Jain

Berkshire's Vice Chairman for insurance, who will join Abel in the first Q&A session at the shareholder meeting.

Katie Farmer

CEO of BNSF, Berkshire's railroad subsidiary, who will join Abel in the second Q&A session.

Adam Johnson

CEO of NetJets, Berkshire's private jet company, who now helps oversee the conglomerate's consumer, service and retail businesses.

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What they’re saying

“Our balance sheet is a strategic asset to be deployed at the right time. It allows us to act decisively, invest when others are tentative or fearful, and stand firm when financial storms roll through.”

— Greg Abel, CEO

“He's coming into this role from a much different perspective. He wasn't the person who built it up. He's got to run this thing.”

— Cathy Seifert, CFRA Research Analyst (wral.com)

What’s next

The first question-and-answer period at Berkshire's shareholder meeting in May will feature Abel alongside Ajit Jain, while a second panel will have Abel answering questions with BNSF CEO Katie Farmer and NetJets CEO Adam Johnson.

The takeaway

Under Abel's leadership, Berkshire Hathaway is poised to maintain its long-term investment approach and financial discipline, providing continuity for investors despite the transition from the Buffett era. Abel's factual, unemotional tone in his first shareholder letter signals a pragmatic focus on executing Berkshire's proven business model.