Greg Abel Publishes First Letter to Berkshire Hathaway Shareholders

New CEO emphasizes continuity as Berkshire reports $4.5 billion write-down on investments

Mar. 3, 2026 at 1:07am

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Greg Abel has officially taken over as CEO of Berkshire Hathaway, releasing his first letter to shareholders alongside a $4.5 billion write-down on investments in Kraft Heinz and Occidental Petroleum. Abel's message emphasizes a steadfast commitment to the principles that have defined Berkshire Hathaway for decades, while also introducing some administrative changes and a potential shift in the company's holdings.

Why it matters

The transition to Abel's leadership marks a significant moment for Berkshire Hathaway, as the conglomerate navigates market realities and seeks to maintain the consistent approach that has made it a renowned investment vehicle. Investors will be closely watching Abel's decisions to gain insights into his long-term vision for the company.

The details

Abel's letter opened with a tribute to Warren Buffett, acknowledging the challenge of succeeding a legendary investor. He assured shareholders that Berkshire's foundational culture - built on trust, integrity, and disciplined investing - will remain central to the company's operations. The $4.5 billion write-down reflects adjustments to the value of Berkshire's stakes in Kraft Heinz and Occidental Petroleum, but Abel described the company's substantial cash reserves of $373.3 billion as 'strategic dry powder' that will allow for decisive action without compromising financial strength.

  • Greg Abel released his first letter to Berkshire Hathaway shareholders on March 1, 2026.
  • Berkshire Hathaway reported a $4.5 billion write-down on investments in Kraft Heinz and Occidental Petroleum at the end of 2025.

The players

Greg Abel

The new CEO of Berkshire Hathaway, who has taken over from legendary investor Warren Buffett.

Warren Buffett

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

Ajit Jain

Berkshire Hathaway's Vice Chairman for insurance.

Katie Farmer

CEO of BNSF, Berkshire Hathaway's railroad subsidiary.

Adam Johnson

CEO of NetJets, Berkshire Hathaway's private jet subsidiary.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.