巴菲特布局伯克希尔CEO交班过渡期：捐13亿、不再写年度股东信、保留大量A类股

Core Insights - Warren Buffett, at 95, is making arrangements for his succession as CEO of Berkshire Hathaway, planning to transfer his $149 billion estate to family foundations while retaining sufficient Class A shares to instill confidence in successor Greg Abel [1][3] - Buffett's Thanksgiving letter marks his first significant statement since announcing his retirement as CEO in May, signaling the end of his 60-year management era at Berkshire [1] Succession Planning - Greg Abel, 63, will take over as CEO in early 2024, while Buffett will remain as chairman and continue the Thanksgiving letter tradition, though he will not write the annual report or speak at the annual meeting [2] - Buffett emphasizes that the accelerated donations are not indicative of a negative outlook for Berkshire but are intended to facilitate the management of his estate by his children before they are replaced by trustees [3] Financial Health and Performance - Buffett reassures shareholders of his good health and the resilience of Berkshire, stating that the likelihood of catastrophic failure is lower than any company he knows [4] - Berkshire's core business remains strong, with a 34% year-over-year increase in operating profit for Q3, and a record cash holding of $381.7 billion as of September 30 [4] - Despite a 10% increase in stock price year-to-date, Berkshire has lagged behind the S&P 500 in the tech-driven market rebound [4] Philanthropic Efforts - Buffett has accelerated his charitable contributions since 2006, aiming to donate all his wealth during his lifetime or upon death, with a shift in focus away from the Gates Foundation to family-controlled trusts [5] - He expresses a desire to maintain communication with shareholders through traditional Thanksgiving letters, acknowledging their generosity towards less fortunate individuals [5]