Warren Buffett has stepped down as Chairman of Berkshire Hathaway after more than 60 years leading the company. Berkshire has returned 6,642,000% since 1964, nearly 120 times the S&P 500’s performance over the same period. In a letter to shareholders, Buffett wrote he has served Berkshire since 1965, recently celebrated his 96th birthday with family, including a great-grandchild who just turned one, and said he still considers his role “the best job in the world.” He thanked shareholders for thinking in decades rather than quarters, calling it a defining trait of Berkshire’s owner base since the beginning.
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