Warren Buffett Steps Down as Berkshire Chairman
Warren Buffett has officially stepped down as chairman of Berkshire Hathaway, marking another major shift at the company he spent more than six decades building.
Berkshire announced on September 18 that the 96-year-old Buffett will become Chairman Emeritus and remain on the board.
His son, Howard Buffett, is taking over as chairman.
But Howard will not be running Berkshire’s day-to-day business.
That job remains with Greg Abel, who became CEO at the beginning of 2026.
Who Actually Runs Berkshire Now?
The new structure is fairly simple.
Greg Abel runs the company.
Howard Buffett leads the board.
Warren Buffett remains involved as Chairman Emeritus and a director.
So this is not a sudden handover of Berkshire to Buffett’s son. The operational control is already with Abel.
From Textile Company to a $1 Trillion Giant
Buffett took control of Berkshire Hathaway in 1965, when it was still largely a struggling textile business.
Over the next six decades, he transformed it into a massive corporate group spanning insurance, railroads, energy, manufacturing and investments.
Today, Berkshire Hathaway is worth around $1 trillion, depending on market prices.
Buffett Still Has His Sense of Humour
Even during such a major transition, Buffett kept his trademark humour.
While talking about getting older, he joked that his one-year-old great-grandchild was already moving faster than he was.
He then summed up the reality of succession in classic Buffett fashion:
“Father Time always wins.”
The Post-Buffett Era Has Arrived
Buffett is not completely leaving Berkshire.
He will still remain connected to the company and its board.
But stepping down as chairman makes one thing increasingly clear:
The post-Warren Buffett era at Berkshire Hathaway has officially begun.