As Warren Buffett Steps Down as Berkshire Hathaway Chairman, a Look at the 96-Year-Old Investor’s Best Life Advice: ‘Write Your Obituary’

NEED TO KNOW

• On Sept. 18, Warren Buffett announced his resignation as Berkshire Hathaway chairman just eight months after stepping down as CEO

• During his long career, the 96-year-old billionaire investor has encouraged people to write their own obituary to guide life decisions and pursue meaningful goals

• He plans to donate his fortune, including $6 billion this year, to foundations connected to his family by 2034

Even as Warren Buffett steps down from his role as chairman of Berkshire Hathaway, his life advice continues to ring true.

“Father Time always wins. He has, however, been generous with me,” said the 96-year-old billionaire investor when making the announcement on Friday, Sept. 18, eight months after relinquishing his position as the multinational conglomerate’s CEO.

“I have been lucky and healthy to get to 95 … and, fortunately, I got exposed, partly accidentally, to what I liked to do very early on,” Buffett told CNBC earlier this summer, referencing the fact that his dad owned a stock brokerage, where he learned about investing at an early age.

For decades, Buffett has been at the helm of Berkshire, and has been a longtime force in the global economy. As of Friday, his net worth is more than $144 billion, according to Forbes. But, for Buffett, a good life is not about accumulating mass wealth. For years, he’s advised that people striving to be successful write their own obituary, CNBC reported.

“Write your obituary, and try and figure out how to live up to it,” Buffett said at a 2023 shareholder meeting, according to the outlet.

That vision will help people decide how to approach their education and the figures they want in their lives, from romantic partners to colleagues.

“You’re entering the best world that’s ever existed. And you want to find the people to share it with and the activities to participate in that fit you,” he said, according to the outlet.

Buffett has often told students to “find a job that you would like to have if you didn’t need a job,” CNBC reported.

No matter the time it takes, “don’t forget what you’re actually trying to do,” the billionaire added.

Philanthropy is one way that Buffett has made an impact. While he’s distanced himself from the Gates Foundation after his friend Bill Gates’ much-covered testimony before the House Oversight Committee about the Jeffrey Epstein investigation, Buffett is still determined to give away his fortune.

In July, Buffett announced that he was donating about $6 billion to nonprofit organizations that are tied to his family, and plans to have his remaining shares of Berkshire given to the foundations by the end of 2034, the Associated Press reported.

“The ultimate goal is to make life better for the people who get short straws,” Buffett told CNBC following the announcement, “and there’s a lot more people who get short straws than we’ll ever be able to take care of.”

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