New CEO Greg Abel has written his first letter to Berkshire Hathaway shareholders, stating that the company's culture and values "remain unchanged" and will continue into perpetuity. Abel emphasized that he is committed to strengthening the legacy of Warren Buffett and Charlie Munger, and pledged to maintain Buffett's "fortress-like balance sheet". He also promised to use some of Berkshire's large cash pile to pay a dividend, but no specific criteria were specified for buybacks. No buybacks were held during the fourth quarter, extending a streak that dates back to May 2024. Abel also addressed questions about the future of the company, including how to train successors and how to manage the company.