Warren Buffett Retires From Berkshire Hathaway After More Than Six Decades

Warren Buffett, one of the world’s most renowned investors, has stepped down as chairman of Berkshire Hathaway at the age of 96, marking the end of an extraordinary era for the conglomerate he transformed into a global business powerhouse.

Berkshire Hathaway announced on Friday, September 18, 2026, that Buffett has become chairman emeritus with immediate effect. He will remain a member of the company’s board and continue to provide his judgment and perspective. 

Buffett had served as Berkshire’s chairman since 1970, after taking control of the company in 1965. Under his leadership, Berkshire evolved from a struggling textile manufacturer into a vast conglomerate with interests spanning insurance, railroads, energy, manufacturing, retail and other businesses. 

Son takes over as chairman

As part of Berkshire’s long-planned succession, Buffett’s son, Howard G. Buffett, has been elected chairman of the board.

Howard Buffett has been a Berkshire director since 1993, giving him more than three decades of experience on the company’s board before assuming the chairmanship. Susan Decker will continue as lead independent director. 

Meanwhile, Greg Abel remains Berkshire Hathaway’s chief executive officer. Abel took over as CEO earlier in 2026 after Buffett relinquished the position at the end of 2025. 

Buffett said Abel’s performance helped convince him that the time was right to complete the leadership transition.

“Father Time always wins. He has, however, been generous with me.”

Buffett also told shareholders that Berkshire was in excellent hands and expressed confidence in what lies ahead. 

The end of an extraordinary era

Buffett’s departure from the chairmanship represents a historic change at Berkshire Hathaway. He has been associated with the company for more than 60 years, building a reputation for disciplined investing, long-term ownership and conservative financial management.

Berkshire eventually became a company worth more than $1 trillion, making Buffett one of the most influential figures in modern business and investing. 

Although he is stepping away from the chairmanship, Buffett has not completely severed his connection with Berkshire. He will remain a director and shareholder, meaning his influence and experience will still be available to the company.

The transition therefore marks not simply Buffett’s departure, but the completion of a succession plan that places Greg Abel in charge of operations and Howard Buffett in charge of the board, while Warren Buffett moves into an advisory role as chairman emeritus.