Warren Buffett’s 5 investing lessons

Warren Buffett is officially retiring from his role as CEO of Berkshire Hathaway, a position he's held since 1970.

Transcript

00:00Warren Buffett is stepping up his charitable giving after admitting his original plan wasn't

00:05feasible. In his final letter to Berkshire Hathaway shareholders before stepping down as CEO later

00:10this year, Buffett acknowledged that his original plan to donate most of his wealth before or at

00:15his death hasn't gone as planned. Instead, Buffett's three children will each be in charge

00:20of distributing about $500 million a year. He said his children are at their prime in respect

00:25to experience and wisdom and best equipped to guide his fortune while they're still active and

00:30engaged. But he does recognize that his own longevity means it's time to pick up the pace on

00:35lifetime giving since his current net worth sits around $150 billion, according to Bloomberg's

00:41Billionaires Index. To date, Buffett has donated more than $60 billion, mostly to the Gates Foundation,

00:48with new gifts announced to family foundations this week.