Warren Buffett writes his last letter to shareholders: he is retiring after 60 years in office

American billionaire Warren Buffett, who turned 95 in August, wrote his last letter to Berkshire Hathaway shareholders on November 10. At the end of 2025, he will step down as CEO of the company and hand it over to Greg Abel.

"I will no longer write Berkshire's annual report or speak endlessly at the annual meeting. As the British would say, I'm 'shutting up'. Well, almost. Greg Abel will take over as CEO at the end of the year. He is an excellent manager, a tireless worker and a sincere conversationalist. We wish him a long tenure. I will continue to communicate with you and my children about Berkshire affairs through the annual Thanksgiving message," Abel said in the letter, which is largely devoted to reminiscing about his life.

Buffett said: despite his age, "generally feels good".

"Although I am moving slower and reading is increasingly difficult, I still come to the office five days a week and work with great people," he wrote .

Billionaire says he hopes Berkshire Hathaway will prosper after his firing.

"Overall, Berkshire's businesses have slightly better-than-average prospects, and there are some large, independent, and truly valuable assets among them. However, in ten or twenty years, there will be many companies that will do better than Berkshire – our scale comes at a price," Buffett wrote .

He has headed Berkshire Hathaway since 1965.

• Buffett ranks 11th among the world's richest people, according to Bloomberg. His fortune is estimated at $149 billion.