The new boss of the US funding firm Berkshire Hathaway, Greg Abel, has promised continuity after taking up the baton from Warren Buffett. In his first annual letter to shareholders on Saturday, Abel pledged to go away the accounting rules and values of his predecessor and mentor unchanged. He won’t rush to make use of the money reserves of just about $373.3 billion and doesn’t plan to pay dividends. Buffett had additionally spoken out towards distributions.
Abel paid tribute to the 95-year-old Buffett, who stepped down after 60 years as CEO however stays head of the board of administrators. “Warren Buffett is arguably the greatest investor of all time,” Abel wrote. “Investing in Berkshire has long been a vote of confidence in our founder – a confidence that now rests with Berkshire.” He additionally signaled that the group’s decentralized construction could be retained
through which the handfuls of corporations function largely with out interference from him.
Analyst Cathy Seifert from CFRA Research referred to as the letter a profitable try and sign continuity to traders after the change in management.
Abel additionally commented on particular person enterprise areas. Berkshire has no real interest in shopping for one other giant railway firm along with the prevailing BNSF freight railway. He additionally identified the stress from authorized disputes on the power provider PacifiCorp in reference to wildfires in Oregon.
Berkshire reported a decline in income for the fourth quarter and full yr 2025. The purpose was write-downs on the investments within the meals firm Kraft Heinz and the oil producer Occidental Petroleum. Operating revenue within the fourth quarter fell by 30 p.c to $10.2 billion, and for the complete yr by six p.c to $44.49 billion.
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