Berkshire Letter2025-02-2220 min read
Gregory Abel's First Letter - 2025
Gregory Abel's first shareholder letter as CEO, written after Warren Buffett's passing in early 2025. Abel opens by celebrating Buffett's legacy before laying out his own vision for Berkshire: strengthened culture and values, the enduring insurance franchise ($176B float), and disciplined capital allocation under new leadership. The letter demonstrates continuity with Buffett's philosophy while signaling a new chapter.
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Key Quotes
“Berkshire succeeded because of America; I succeeded because of Berkshire.”
“Our culture is our most treasured asset - a call to maintain what defines Berkshire.”
“I've learned more from my mistakes than from my successes.”
“Our managers have been extraordinary - I couldn't have done this without them.”
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