The Oracle steps down after 60 years

Warren Buffett has left his CEO and chairman roles at Berkshire Hathaway after leading the company since 1965, though he remains as a director. At 96, he's built a $145 billion fortune from the investment.

A petty dispute sparked it all

In 1962, Buffett planned a quick profit from Berkshire Hathaway, a failing textile mill. When the CEO shorted him 12 cents on an agreed share price, Buffett got angry and bought control of the company instead.

“This made me mad. So I went out and started buying the stock, and I bought control of the company, and fired Mr. Stanton.”

He called it his dumbest investment

Buffett later admitted buying Berkshire Hathaway felt like anchoring himself to a sinking ship. The textile business was terrible, and he spent 20 years trying to keep it alive before it shut down in 1985.

“The dumbest stock I ever bought was, drum roll here, Berkshire Hathaway.”

Insurance became the real goldmine

In 1967, Buffett acquired National Indemnity insurance company for Berkshire. Over decades, he folded in GEICO, See's Candies, BNSF Railway, and dozens of other businesses, transforming the conglomerate.

A $1.1 trillion empire emerged

Berkshire Hathaway's stock grew over 5.5 million percent from 1965 to 2024. The company now spans insurance, railroads, utilities, manufacturing, and retail, generating $371.4 billion in revenue in 2025.

He owns 99.5% of his wealth in Berkshire

Buffett's $145 billion fortune is almost entirely tied to Berkshire Hathaway, where he owns about 37.2% of Class A shares. His holdings in over 60 businesses have delivered 19.7% average annual returns since 1965.

He's giving nearly all of it away

Buffett co-founded The Giving Pledge and promised to donate over 99% of his wealth to charity. He's already committed 12 million Class B shares worth $6 billion, with the remaining $139 billion going to family foundations by 2034.

The math of his biggest regret

Buffett estimated that if he'd skipped the textile business and invested directly in insurance instead, Berkshire would be worth $200 billion more today. Yet the "dumb" decision still made him one of the world's richest people.