Warren Buffett is stepping down as chief executive of Berkshire Hathaway after decades in the role. He will leave the position today (Wednesday). Greg Abel, his long-time deputy, is scheduled to take over on Thursday.

Buffett is 95. Over his career, he became one of the world’s most recognised investors. He also became a reference point for business leaders who followed his decisions, language, and conduct. Many viewed him not only as an investor, but also as a teacher.

Buffett’s Plain Words Shaped Business Thinking

His influence extended beyond investment results. Through annual shareholder letters, public meetings, and testimony before Congress, Buffett explained business and financial ideas in simple terms. Several executives have said this approach influenced how they run their companies.

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Buffett’s shareholder letters attracted a wide readership beyond Berkshire investors. They were often cited for short and direct statements. Among the most quoted lines were: “It’s only when the tide goes out that you learn who’s been swimming naked,” and “Predicting rain doesn’t count; building arks does.”

Patience Over Short-Term Investment Gains

Patience was a recurring feature of his investment approach. Berkshire often held large amounts of cash while waiting for suitable opportunities. When the company invested, it typically held positions for long periods. In a 1989 letter, Buffett wrote that “our favorite holding period is forever.”

Buffett also drew clear ethical boundaries. While he pursued aggressive and profitable deals, including during the global financial crisis, he consistently stressed the importance of reputation over short-term gains, CNN reported.

Wealth, Criticism of Excess, and Giving

Despite his wealth, Buffett often criticised excess. His net worth has been estimated at about $150 billion. He lives comfortably and travels by private jet. At the same time, he has committed most of his fortune to charitable causes.

In 2010, Buffett helped launch the Giving Pledge with Bill Gates and Melinda French Gates. The initiative encourages the world’s wealthiest individuals to donate most of their wealth to charity during their lifetime or through their wills.

In a letter outlining his approach to giving, Buffett wrote: “Too often, a vast collection of possessions ends up possessing its owner.”

He later framed generosity in broader terms. In a 2025 message, he wrote: “When you help someone in any of thousands of ways, you help the world.” He added: “Kindness is costless but also priceless.”