Warren Buffett Steps Down as Chairman of $1 Trillion Berkshire Hathaway at Age 96
On September 18, 2026, Warren Buffett announced he is stepping down from the chairman role at Berkshire Hathaway and will become chairman emeritus. His son Howard Buffett has been named chairman, while Greg Abel continues as CEO. The transition follows a long-planned succession strategy outlined by Buffett over a decade ago. Buffett took control of Berkshire in 1965 when it was a struggling textile mill he described as his worst investment. Over the years, he transformed it into a $1.09 trillion conglomerate through strategic acquisitions and diversification across insurance, railroads, consumer brands, and more. The company's stock has compounded at an annual rate of 19.7% from 1965 to 2025. Buffett emphasized that the leadership change was carefully planned rather than a sudden shift. He will remain on the board as chairman emeritus and continue advising major decisions, while Howard Buffett's role is expected to focus on preserving Berkshire’s core values.
Topics: Berkshire Hathaway executive transition succession plan Warren Buffett