Sep. 19 at 12:40 AM
Warren Buffett, 96, is stepping down as chairman of Berkshire Hathaway and becoming chairman emeritus, formally ending his six-decade leadership. He will remain on the board, while his son Howard Buffett becomes chairman and Greg Abel, CEO since early 2026, retains operational control.
Buffett transformed Berkshire from a struggling textile company into a conglomerate worth more than
$1 trillion. From 1965 through 2024, Berkshire shares delivered a 19.9% annualized return, versus 10.4% for the S&P 500, with the cumulative gain exceeding 5.5 million%.
Berkshire’s strategy evolved from Benjamin Graham’s value investing principles, with Charlie Munger emphasizing business quality and durable returns. Investments such as Coca-Cola and Apple became key holdings, while acquisitions including BNSF, Precision Castparts and General Re expanded the company.
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