Warren Buffett Steps Down as Chairman of Berkshire Hathaway

Warren Buffett announced on Friday, September 18, 2026, in a letter to shareholders that he is stepping down as chairman of Berkshire Hathaway, the company he has led for more than 60 years, since taking control in 1965. Buffett, 96, transformed what was then a struggling textile mill into a global conglomerate valued at roughly $1 trillion. In his letter, Buffett said "Father Time always wins" in explaining the decision to step aside. He will remain involved with the company as chairman emeritus, retaining a board role even after relinquishing the chairmanship. The Guardian reported that Buffett's son, Howard Buffett, 71, will take over as the new chair of the $1 trillion conglomerate, and that Warren Buffett cited his age as the main reason for the transition, referencing a one-year-old great-grandchild as evidence of his own slowing pace. The succession plan and Howard Buffett's specific new role were reported by only one source among those reviewed, so this detail remains unconfirmed by independent corroboration. Other outlets confirmed the stepping-down announcement and the chairman emeritus arrangement but did not specify further details of the leadership transition or next steps for Berkshire Hathaway's governance.