When Warren Buffett converted 1,800 of his valuable A shares into 2.7 million B shares on November 10, 2025, he immediately donated every single one to four family foundations, marking another significant step in his gradual exit from direct control of Berkshire Hathaway.
The donations were delivered the same day as the conversion, with The Susan Thompson Buffett Foundation receiving the largest portion at 1.5 million shares, while The Sherwood Foundation, The Howard G. Buffett Foundation, and NoVo Foundation each received 400,000 shares.
This latest move signals broader changes coming to the investment giant. Buffett announced he will stop writing Berkshire’s famous annual reports personally and end his marathon talking sessions at annual meetings.
For decades, shareholders have looked forward to his folksy wisdom and witty observations in these communications, but the Oracle of Omaha is stepping back from these traditions as part of his leadership transition plans.
The shift focuses heavily on building shareholder confidence in Greg, Buffett’s chosen successor. Buffett wants investors to develop the same comfort level with Greg that they previously enjoyed with his late partner Charlie Munger.
This confidence-building process will happen gradually over time, and Buffett plans to keep his significant A shares until shareholders feel completely comfortable with the transition.
Buffett remains characteristically honest about Berkshire’s future challenges. He warned that stock prices move unpredictably even under current management, noting that the company has experienced three drops of around 50% over the past 60 years.
However, he maintains his long-term optimism, predicting that America’s recovery will lead to Berkshire’s recovery during inevitable downturns.
Interestingly, Buffett also took aim at modern CEO compensation practices, criticizing how new rules created envy rather than moderation.
He explained that CEOs at company A began envying their competitors at company B, leading to inflated pay packages as boards carefully selected compensation committees for alignment.
These changes represent the most significant transformation in Berkshire’s leadership structure since Buffett took control, setting the stage for a new era while maintaining the company’s core investment principles. Many investors looking to diversify investments may need to consider how these leadership changes could affect their portfolio allocation strategies.
