Warren Buffett steps down as chair of Berkshire Hathaway after over 50 years
‘Father Time always wins,’ Buffett, 96, says as his son, Howard, steps in as the $1tn conglomerate’s new chair
TL;DR
- Warren Buffett is stepping down as chair of Berkshire Hathaway after 60 years.
- His son, Howard Buffett, will take over as the new chair.
- Buffett, 96, cited his age as the reason for the transition.
- He will remain as chair emeritus and a director on the board.
- Buffett transformed Berkshire Hathaway from a textile manufacturer into a $1tn conglomerate.
- Greg Abel replaced Buffett as CEO in May 2025.