Warren Buffett is concluding his tenure as chair of Berkshire Hathaway, stepping away from the role he has held since 1970 after more than 50 years of leadership at the $1 trillion conglomerate. The 96-year-old billionaire will immediately transition into the role of chair emeritus while retaining his seat on the board of directors.
As part of a long-planned leadership succession, Howard Buffett—who has served on the company’s board since 1993—will take over as the new chair. This change follows the earlier appointment of Greg Abel, who became CEO at the start of 2026. Addressing shareholders, the veteran investor expressed full confidence in the new leadership team. “Greg runs the company; Howard will guard its culture and values – both worth more than anything on our balance sheet,” he noted, describing his son as “a policy the shareholders own and hope never to claim against.”
Reflecting on his career in a letter to investors, Buffett wrote, “I have served Berkshire since 1965. Sixty-plus years in, I still have the best job in the world. That is not something many people my age can say, and I have never felt better about what comes next.” During his time as CEO, Buffett oversaw a period of immense growth, with the company achieving a 19.9% compounded annual growth rate, nearly doubling the 10.4% gain seen by the S&P 500.
Buffett’s influence as an investor remains significant, with public disclosures of Berkshire’s holdings historically capable of shifting market sentiments. His personal wealth, built through his stake in the firm, was valued at over $140 billion as of July 2026, even after he has donated approximately $66 billion in stock since 2006. The report also notes that he has already given away roughly $66bn worth of stock since 2006.
Comments