Warren Buffett Retires As Berkshire Hathaway Chairman; Son Howard To Succeed

Warren Buffett has stepped down as chairman of Berkshire Hathaway, ending more than five decades in the leadership role at the American conglomerate. His son, Howard Buffett, will succeed him as chairman.

Buffett announced the decision in a letter to shareholders on 18 September 2026. He will remain on Berkshire Hathaway’s board as a director.

What Happened At Berkshire Hathaway?

Buffett, who has served Berkshire since 1965 and became chairman in 1970, said that he remained confident about the company’s future despite stepping away from its top leadership position.

Howard Buffett, Warren Buffett’s son, has been a member of Berkshire Hathaway’s board since 1993. He will now take over as chairman, with responsibility for preserving the company’s culture and values.

Warren Buffett had earlier stepped down as chief executive officer (CEO) late last year. Greg Abel succeeded him as CEO and will continue to run the company’s operations.

How Did Warren Buffett Build Berkshire Hathaway?

Under Buffett’s leadership, Berkshire Hathaway grew from a struggling textile business into a conglomerate valued at approximately $1.03 trillion.

The company now owns or operates businesses across insurance, railways, energy, consumer products and other industries. Its major businesses include Geico car insurance, BNSF railroad, Berkshire Hathaway Energy, Dairy Queen, Fruit of the Loom and Squishmallows. Berkshire also holds significant stakes in publicly listed companies such as Apple, Coca-Cola and American Express, and other large S&P 500 companies.

Buffett became known for buying high-quality businesses, maintaining a long-term investment approach and focusing on disciplined capital allocation. His management style helped make Berkshire Hathaway one of the most closely followed companies in global markets.

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