Warren Buffett Steps Down as Berkshire Hathaway Chairman; Son Howard to Succeed Him

Anchorage, AK, September 18, 2026 —

Warren Buffett, the influential 96-year-old billionaire investor, is transitioning from his long-held role as chairman of Berkshire Hathaway, the sprawling conglomerate he has steered since 1970. The company, valued at approximately $1 trillion, announced the leadership change on Friday.

In this significant leadership shift, Buffett will assume the title of chairman emeritus. His son, Howard Buffett, has been appointed as the new chairman of Berkshire Hathaway.

Greg Abel will maintain his position as the chief executive officer (CEO) of the company, a role he took on earlier this year. This established succession plan is designed to ensure a smooth transition for the Omaha-based organization.

Buffett’s tenure at the helm of Berkshire Hathaway has been marked by decades of strategic investment and growth, transforming the company from a textile manufacturer into a vast holding company with diverse operations spanning insurance, energy, railroads, manufacturing, and retail. His investment philosophy and leadership have made him one of the most closely watched figures in the global financial industry.

The appointment of his son, Howard Buffett, as chairman signals a continuation of leadership within the family structure, while Greg Abel’s ongoing role as CEO emphasizes operational continuity. The company has indicated that this move is a deliberate step in its long-term succession strategy.

The specific date for this transition is not detailed in the announcement, nor are further details about Buffett’s responsibilities as chairman emeritus. The company’s announcement was made on a Friday, but the year of the announcement was not specified in the provided information.

Story summarized from the original created by Josh Funk and Michelle Chapman, Associated Press on www.adn.com, see more information here.

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