[Part III] Legacy and Letting Go: Warren Buffett’s Final Act and The Next Chapter of Berkshire Hathaway

With Warren Buffett’s decision to step down as CEO of Berkshire Hathaway, the spotlight turns to the enduring impact of his legacy — not only as a titan of investing but also as a philanthropist, mentor, and steward of ethical capitalism.

Warren Buffett with Greg Abel—Berkshire’s next CEO and steward of the Buffett philosophy. I Illustrator: ASK

In this final installment, we explore Buffett’s long-term succession planning, his commitment to philanthropy, and the guiding principles that will shape Berkshire’s future in the hands of Greg Abel.

Succession and the Rise of Greg Abel

After years of meticulous planning, Buffett announced in 2025 that Greg Abel, Berkshire’s Vice Chairman for non-insurance operations, would succeed him as CEO.

Abel, a soft-spoken Canadian known for his operational rigor, has long been viewed as Buffett’s heir apparent. He played a crucial role in building Berkshire Hathaway Energy into one of the firm’s most profitable divisions.

Buffett’s confidence in Abel stems not only from his business acumen but also from his deep understanding of Berkshire’s decentralized culture.

Abel has assured shareholders that he will preserve the principles that Buffett and Munger instilled: integrity, long-term thinking, and rational capital allocation. Importantly, Buffett will remain as Chairman, continuing to guide strategy and mentor Abel during the transition.

Philanthropy and the Giving Pledge

Beyond markets and corporate performance, Buffett has become one of the most generous philanthropists in history.

In 2006, he pledged to donate the majority of his wealth, primarily through the Bill & Melinda Gates Foundation. In 2010, he co-founded The Giving Pledge, urging billionaires around the world to commit at least half their fortunes to charitable causes.

Buffett has consistently emphasized that money has little utility beyond a certain point. True to his philosophy, he has lived modestly — still residing in the Omaha home he purchased in 1958.

His annual gifts of Berkshire shares, now totaling tens of billions of dollars, reflect a belief that capital can and should serve society. As he often states, "If you're in the luckiest 1% of humanity, you owe it to the rest of humanity to think about the other 99%."

A Legacy of Rationality, Patience, and Integrity

Warren Buffett’s greatest legacy may not be measured in returns or wealth, but in the principles, he has championed: trust, transparency, and time-tested wisdom.

He taught generations of investors that success is built not on speculation but on deep research, emotional discipline, and ethical stewardship.

Buffett’s annual letters, his candid interviews, and his unwavering moral compass have shaped the global business conversation. In the Philippines and across Southeast Asia, his story inspires entrepreneurs and investors to think long-term, act ethically, and build enterprises that last.

As Greg Abel steps into his new role, he inherits not just a sprawling business empire, but a culture and a creed.

And as Buffett transitions into his role as Chairman and global elder statesman of finance, he leaves behind a blueprint for future generations: that doing well and doing good are not mutually exclusive — and that capitalism, at its best, is a force for prosperity and purpose.