Omaha: Warren Buffett has stepped down as chairman of Berkshire Hathaway, bringing an end to more than six decades of leadership at the company. The 96-year-old investor has been named chairman emeritus and will continue to remain associated with Berkshire Hathaway as a director.
Buffett’s departure as chairman marks another major stage in the succession process at the conglomerate he transformed from a struggling textile company into a diversified business group with interests across several industries.
His eldest son, Howard Buffett, 71, has taken over as non-executive chairman. The move is separate from the company’s CEO succession. Greg Abel became Berkshire Hathaway’s chief executive after Buffett stepped down from the CEO position earlier in 2026.
Buffett first took control of Berkshire Hathaway in the 1960s. Under his leadership, the company expanded far beyond its original textile business and built operations across insurance, railroads, energy, manufacturing and retail. Berkshire also became one of the world’s largest corporate investors.
The company has accumulated a huge investment portfolio over the decades, with Buffett’s approach largely focused on buying strong businesses and assets at attractive valuations and holding them for the long term. His annual shareholder letters and Berkshire’s annual meeting have also made the company closely followed by investors around the world.
Berkshire Hathaway is now valued at roughly $1.1 trillion, reflecting the scale of the business empire built during Buffett’s tenure. The company’s insurance operations have also remained central to its financial structure, generating capital that can be invested across businesses and financial assets.
While Buffett is no longer chairman, his continued role as a director and chairman emeritus means he will remain connected to the company. His presence also provides continuity during the transition to the new leadership structure.
Howard Buffett has served on Berkshire Hathaway’s board since 1993. His new position as non-executive chairman is focused on the company’s board and governance, while Greg Abel is responsible for executive management and day-to-day operations as CEO.
The leadership transition is being closely watched by investors because Berkshire has a large portfolio of operating companies, investments and cash. Under the new management, capital allocation, acquisitions and investment decisions will remain key areas of focus.
