Warren Buffett is stepping down as chair of Berkshire Hathaway, the company he took from a faltering textile manufacturer into a $1tn conglomerate over the course of 60 years. Buffett's son, Howard, 71, will take over as chair, having served on the board since 1993 and long planned as his father's successor. Buffett, 96, cited his age as the main reason behind the transition, and said he will remain as chair emeritus and a director on the board. He left his post as CEO of Berkshire Hathaway in May 2025, when Greg Abel, vice-chair of the company, replaced him as CEO. Bloomberg places Buffett's net worth at $145bn, making him the 10th richest person in the world, and Abel said Buffett's impact on the company is without parallel in the history of American business.
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NVIDIA CorporationBerkshire Hathaway IncWarren Buffett steps down as chair after 60 years, with son Howard taking over; leadership transition with no clear financial or operational driver stated.
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