Berkshire Hathaway shares ended slightly lower as Warren Buffett marked his final day as chief executive, closing a historic chapter in corporate leadership.
The legendary investor is set to formally pass the role to Greg Abel, who will assume control of the sprawling conglomerate on Thursday.
Class A shares dipped $600, or 0.1%, to $754,800, while Class B shares declined $1.06, or 0.2%, to $502.65.
The broader S&P 500 also fell, closing down 0.7% during the session.
An Unmatched Track Record
Buffett’s tenure has delivered extraordinary returns for long-term shareholders.
Investors who bought Berkshire shares in 1965, when Buffett took control, have seen gains of approximately 6,100,000%.
That performance far outstripped the S&P 500’s roughly 46,000% return over the same period, including dividends.
Berkshire also outperformed the index in 2025 and across the past decade.
Despite its success, the company never recorded a down year, even as Buffett struggled to deploy capital efficiently at scale.
A Diverse Business Empire
Berkshire Hathaway controls a vast portfolio of businesses across insurance, transportation, manufacturing, energy, and retail.
Its subsidiaries include Geico, the BNSF railroad, and dozens of industrial and energy operations.
Consumer-facing brands under the Berkshire umbrella include Dairy Queen, Fruit of the Loom, Brooks, and See’s Candies.
As of the end of September, the company held $381.7 billion in cash and equivalents.
Leadership Transition Takes Shape
Greg Abel, 63, joined Berkshire in 2000 following its acquisition of MidAmerican Energy, now known as Berkshire Hathaway Energy.
He has served as vice chairman since 2018, overseeing the conglomerate’s non-insurance businesses.
Buffett, now 95, will remain chairman and continue working daily from Berkshire’s Omaha headquarters.
Vice Chairman Ajit Jain will maintain oversight of the insurance operations.
Adam Johnson, chief executive of NetJets, will directly supervise Berkshire’s consumer, service, and retail businesses.
Open Questions on Investments
Berkshire has not yet disclosed who will take control of its $283.2 billion equity portfolio.
The portfolio includes major holdings such as Apple and American Express.
Todd Combs and Ted Weschler were long viewed as potential successors in that role.
However, Combs recently departed for JPMorgan Chase, and Buffett has previously suggested Abel could manage the responsibility.