Warren Buffett's 2025: Memes, Letters, Retirement BombshellNEWS | 30 December 2025Warren Buffett urged the US government to use Berkshire's tax payments to combat poverty.
Warren Buffett urged the US government to use Berkshire's tax payments to combat poverty. Nati Harnik/AP
Buffett penned his yearly shareholder letter in February, foreshadowing his departure by talking up two of his planned successors, Greg Abel and Todd Combs.
He hailed Abel, Berkshire's non-insurance boss and his pick for Berkshire's next CEO, for his honesty and decisiveness. He praised Geico CEO Todd Combs — also one of Buffett's two investment managers, hired to eventually take over Berkshire's portfolio — for swinging the auto insurer from a pre-tax underwriting loss of $1.9 billion in 2022 to a $7.8 billion profit in 2024.
"Geico was a long-held gem that needed major repolishing," Buffett wrote, hailing the improvement under Combs as "spectacular."
Buffett touted Berkshire's tax payments during his tenure, noting the company had gone from paying zero income tax to almost $27 billion in 2024, the most of any US company in history.
He urged the federal government to "spend it wisely," saying it should go toward helping people who "get the short straws in life."Author: Never Miss A Story. Theron Mohamed. Enter Your Email. Follow Authors. Source
