Howard Buffett becomes Berkshire chairman as father steps down
Warren Buffett steps down immediately as Berkshire Hathaway chairman, serving since 1970. His son Howard takes over.
Warren Buffett is 96 years old and has stepped down as chairman of Berkshire Hathaway effective immediately. Buffett is now chairman emeritus.
Howard Buffett is his son and has been a Berkshire director since 1993. Howard now takes over as chairman.
Greg Abel became CEO earlier in 2026 and remains in that role. Buffett will stay on the board.
Buffett will continue offering his judgment. Berkshire is a US$1 trillion company.
It has dozens of businesses. These include Geico insurance, a railroad, utilities, Dairy Queen and Squishmallows.
Abel said Howard will protect the values Buffett built over his long time in charge.
- 56
- Years as chairman
- 96
- Buffett's age
- $1 trillion
- Berkshire's value
- since 1993
- Howard's tenure as director
Why it mattersThis marks the end of an era at one of the world's biggest investment firms. The leadership change shows a generational shift in corporate America.
AustraliaBerkshire owns Australian businesses and is a major global investor; the transition may influence investment decisions affecting Australian markets and retirement funds.
Corroborated bysmh.com.au
✓ Claims checked against the source. checked 6 d ago
