Warren Buffett Is Stepping Down As Chairman of Berkshire Hathaway

Legendary investor Warren Buffett is stepping down as chairman of Berkshire Hathaway after greater than 5 many years, marking the top of an period for certainly one of Wall Street’s most storied corporations.

In an announcement, Berkshire Hathaway stated Buffett had been named chairman emeritus, efficient instantly, and can stay a member of the board of administrators.

He shall be changed as chairman by his son, Howard Buffett, the discharge stated.

The elder Buffett gained management of Berkshire in 1965, when it was a New England textile producer, and remodeled it right into a conglomerate that ultimately grew to become one of many planet’s largest public corporations.

Buffett, who turned 96 in August, grew to become chairman and CEO in 1970 and has made billions by investing in shares like Coca-Cola and shopping for companies like Geico. Buffett specialised in long-term value investing reasonably than short-term hypothesis, and centered on companies and industries he actually understood.

He’s gifted greater than half of his Berkshire inventory to good causes however nonetheless owns greater than $140 billion price, making him one of many planet’s wealthiest folks.

Buffett formally stepped down as CEO of Berkshire on January 1, after revealing his resignation plans to Berkshire shareholders at an annual assembly in Omaha in May 2025.

Berkshire launched a parting letter from Buffett to shareholders, by which he wrote that “Father Time all the time wins,” however has “been beneficiant with me.”

Read the letter in full right here:

To My Fellow Shareholders:

Berkshire has a rare group of shareholders. From the start, Charlie and I regarded for house owners who thought in many years reasonably than quarters, and we have been lucky to search out a fantastic lots of you.

Recently, I celebrated my 96th birthday with household and buddies, together with certainly one of my great-grandchildren, who had simply turned one. He’s shifting a bit quicker than I’m as of late.

I’ve served Berkshire since 1965. Sixty-plus years in, I nonetheless have the most effective job within the planet. That just isn’t one thing many individuals my age can say, and I’ve by no means felt higher about what comes subsequent.

Part of the reason being Greg. My expectations for him have been sky excessive from the beginning, and he has exceeded them. He has taken maintain of the Chief Executive Officer job in each respect. He has been making the choices that matter for a while now, and I’ve not needed to assume twice about any of them.

So the timing is correct to finish the transition. I’ll change into Chairman Emeritus and stay a Director. My son, Howard, will succeed me as Chairman.

Howard has been a Berkshire Director for 33 years. That is an extended apprenticeship than I served earlier than taking the reins on the age of 34. Greg runs the corporate; Howard will guard its tradition and values — each price greater than something on our stability sheet. Think of Howard as a coverage the shareholders personal and hope by no means to assert towards.

Howard cares deeply about Berkshire, as do all of our Directors. No firm has been or shall be extra shareholder-minded than Berkshire.

Serving as your Chairman has been the privilege of a lifetime, and I’ve by no means taken your belief as a right. Father Time all the time wins. He has, nevertheless, been beneficiant with me. He has given me the chance to see Berkshire attain a degree the place I’m extra assured than ever about what lies forward. The firm is in glorious palms, and I look ahead to remaining a shareholder alongside you.

September 18, 2026

Warren E. Buffett