At 95, after decades of building one of the world’s most powerful business empires, Warren Buffett says the greatest satisfaction doesn’t come from running a company or chasing billion-dollar deals. In a nearly two-hour CNBC interview, he said serving as a corporate director is what he finds most rewarding.
At the start of 2026, he handed over the CEO role at Berkshire Hathaway to Greg Abel, ending one of the longest and most successful leadership runs in corporate history.
Buffett on why being a corporate director is ‘The Best Job in the World’
During the special documentary titled Warren Buffett: A Life and Legacy, Buffett also shared a take on corporate board roles, calling them one of the best and most comfortable jobs anyone could have. “Being a director, it’s the best job in the world,” Buffett said. He explained that directors can earn anywhere from $250,000 to $500,000 a year for work which is enjoyable rather than stressful. “For doing something that’s quite pleasant,” he said. “Usually, they give you the transportation, and they have cars waiting to take you around everywhere. And everybody’s polite. And everybody loves that job. I mean, who wouldn’t?”
Buffett added that the perks, respect, and ease that come with board roles make them especially appealing, even late in one’s career.
A mountain of cash, but few deals worth doing
At 95, and just before handing over the CEO role to Greg Abel at the start of 2026, the legendary investor was still searching for an “elephant,” a deal big enough to truly matter. What stopped him was not money. It was the lack of the right opportunities. Buffett made that very clear in a special interview with CNBC’s Becky Quick, recorded shortly after he announced he would step down by the end of the year. “It’s external circumstances,” Buffett said. “Believe me, if after we get finished talking you say, ‘I’ve got a great $100 billion new idea,’ I would say, ‘Let’s talk.’”
The company is sitting on more cash than ever before, but Buffett says there simply aren’t enough good businesses available at prices that make sense. By the end of the third quarter, Berkshire’s cash pile had reached a record $381.6 billion. Still, Buffett said that in 2025, he did not find many deals big enough to move the needle.
“When I look at the stock market, when I look at companies of a size that would make any difference to our total, I don’t see anything,” he told CNBC. “We’re buying one or two things, but it’s peanuts. But I’m willing to spend $100 billion this afternoon.”
Why Buffett doesn’t like sitting on too much cash
Even though Berkshire is flush with money, Buffett has never liked holding large amounts of cash for too long. Over the years, he has repeatedly warned that cash is not a great long-term asset. “I’d rather have $100 billion and a really good business at a sensible price than have $100 billion in cash,” he told CNBC. “At certain levels, cash is necessary, but cash is not a good asset.”
To explain his belief, Buffett compared cash to oxygen. “You always want to have enough,” he said. “You don’t have to pay a lot for it. But you do need oxygen. And cash is that way. You always need to have it available because you do not know what will happen.”
He added that neither the stock market nor business conditions are predictable, which is why having cash ready at all times is essential.
As Buffett steps back, Greg Abel takes over as CEO. Abel has been with Berkshire for years and played a key role in several acquisitions, especially in the energy sector. He was instrumental in turning Berkshire Hathaway Energy into a major force.