Warren Buffett's Reflections on 60 Years Leading Berkshire: Emphasizing Record Cash Reserves

Warren Buffett commemorated Berkshire Hathaway's achievements in his annual letter, acknowledging 60 years since he turned a failing textile firm into a varied conglomerate. He revealed Greg Abel as his successor as CEO, citing his readiness for significant investment prospects. Berkshire Hathaway's cash reserves increased to $334.201 billion, nearly doubling from $167.6 billion in the previous year, enabling future investments. Buffett also disclosed that this year's shareholder meeting will be briefer, running from 8 a.m. to 1 p.m., due to his age.