Warren Buffett Reflects on Berkshire 60 Yrs, Offers Subtle Advice to Trump/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Warren Buffett’s annual letter to Berkshire Hathaway shareholders celebrates 60 years of remarkable growth while admitting to occasional mistakes, while urging President Trump to manage government finances wisely. With $334.2 billion in cash reserves, Buffett highlights Greg Abel’s readiness to lead and capitalizes on new investments despite acquisition challenges. A shortened shareholder meeting is planned as Buffett, now 94, reflects on the company’s enduring success.
Berkshire Hathaway at 60: Quick Looks
- Warren Buffett celebrates 60 years of leadership at Berkshire Hathaway
- Advises Trump to use tax revenues responsibly and maintain currency stability
- Admits to occasional mistakes but praises successor Greg Abel’s investment acumen
- Berkshire’s cash reserves soar to $334.2 billion, nearly double last year’s total
- Major investments include Japanese conglomerates, utilities, and the Pilot truck stop chain
- No plans for a dividend despite significant cash holdings
- 2024 shareholder meeting to be shorter as Buffett acknowledges using a cane
- Berkshire paid $26.8 billion in corporate taxes last year, surpassing all other U.S. companies
- Class A shares close at $718,750; Class B shares at $478.74
- Special 60th-anniversary book to be available at the annual meeting
Warren Buffett Reflects on Berkshire 60 Yrs, Offers Subtle Advice to Trump
Deep Look
OMAHA, Neb. — In his much-anticipated annual letter to shareholders, Warren Buffett reflected on Berkshire Hathaway’s extraordinary transformation over the past 60 years, celebrating the company’s unprecedented growth while candidly acknowledging that not every decision was flawless, while offering President Donald Trump a dose of fiscal advice. Buffett, 94, noted that while mistakes have been made, the future of the conglomerate remains in capable hands with his designated successor, Greg Abel.
Abel, who oversees Berkshire’s non-insurance operations, has demonstrated a keen sense for seizing investment opportunities, according to Buffett.
“Greg has vividly shown his ability to act when opportunities arise,” Buffett wrote, underscoring the company’s ongoing commitment to prudent yet decisive investing.
“Thank you, Uncle Sam,” Buffett wrote, referencing Berkshire’s record $26.8 billion corporate tax payment in 2024. “Spend it wisely. Take care of the many who, through no fault of their own, get the short straws in life. And never forget that we need you to maintain a stable currency. That result requires both wisdom and vigilance.”
CFRA Research analyst Cathy Seifert described the message as “subtle but powerful,” underscoring Buffett’s longstanding support for fiscal responsibility while echoing themes often associated with Democratic ideals.
Despite minimal political commentary in recent letters, Buffett’s nudge to Trump comes amid debates over government spending and monetary policy. While Trump’s administration has focused on economic growth through deregulation and tax adjustments, Buffett’s remarks serve as a reminder of the importance of sustainable financial stewardship.
Berkshire Hathaway enters 2025 with an impressive $334.2 billion in cash reserves, nearly double last year’s $167.6 billion. This substantial liquidity follows strategic sales of Apple and Bank of America shares, as well as continued strong earnings from subsidiaries such as Geico, BNSF Railway, and Dairy Queen. Despite this cash buildup, Buffett reiterated that Berkshire has no plans to pay a dividend, preferring to reinvest in value-creating opportunities.
Notably, Berkshire spent $3.9 billion acquiring the remainder of its utility business from a former partner’s estate and $2.6 billion to complete its ownership of the Pilot truck stop chain. Buffett also expanded Berkshire’s holdings in five major Japanese conglomerates, an investment now valued at $23.5 billion after six years and $13.8 billion invested.
While Berkshire has struggled to find large-scale acquisitions recently, Buffett remains optimistic about the company’s capacity to deploy its capital effectively. Still, he admitted that acquiring Berkshire in 1965—then a struggling textile firm—was initially a poor decision, as evidenced by the company paying no income tax for a decade after the purchase. However, that early misstep evolved into a long-term triumph. Berkshire paid $26.8 billion in corporate income tax last year, more than any other U.S. company, including tech giants with multi-trillion-dollar market caps.
Buffett’s success is perhaps best illustrated by Berkshire’s stock performance. Since he began purchasing shares in 1962 for $7.60 each, the company’s Class A shares have soared to $718,750 apiece as of Friday’s close, making them the most expensive publicly traded stock. For broader accessibility, the company also offers Class B shares at $478.74.
In a nod to his advancing age, Buffett announced that Berkshire’s annual shareholder meeting in May—dubbed the “Woodstock for Capitalists”—will be shorter this year. Instead of the typical day-long event, Buffett and his vice chairmen will field questions from 8 a.m. to 1 p.m. Buffett also acknowledged that he now uses a cane to avoid falls, but he emphasized his commitment to shareholders remains unwavering.
This year’s meeting will feature a commemorative highlight: a 60th-anniversary book detailing untold stories and lessons from Berkshire’s remarkable journey. The publication will be available for purchase, offering shareholders an in-depth look at the decisions, successes, and challenges that shaped the company into a global powerhouse.
Though Buffett refrained from extensive reflection on his tenure, the milestone speaks volumes. Under his leadership, Berkshire has evolved from a floundering textile operation into a diverse conglomerate with significant stakes across industries, ranging from insurance and transportation to retail and energy. With Abel poised to continue this legacy, Berkshire appears well-prepared for the future—even as its legendary CEO takes measured steps toward the next chapter.
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