From Fortune · Jason Ma · · 1m 20s
Warren Buffett steps down as Berkshire chair
The 96-year-old investing legend hands the chairman role to his son Howard after Greg Abel takes the CEO helm.
In brief
The 96-year-old investing legend hands the chairman role to his son Howard after Greg Abel takes the CEO helm. Warren Buffett has completed his succession plan by stepping down as Berkshire Hathaway chairman, with his son Howard taking over the role while Greg Abel runs the company as CEO. Originally reported by…
Buffett steps down as chairman
Warren Buffett, 96, has resigned as Berkshire Hathaway's chairman effective immediately, citing his age and saying Father Time always wins.
“Father Time always wins. He has, however, been generous with me.”
Greg Abel now runs the company
Greg Abel took over as CEO in January after Buffett announced the change in May 2025, following six decades at the helm. Abel is calling the shots without second-guessing from Buffett.
Howard Buffett becomes chairman
Buffett's son Howard, 71, succeeds him as chairman after serving as a Berkshire director for 33 years. He will guard the company's culture and values while Greg Abel runs operations.
“Greg runs the company; Howard will guard its culture and values.”
Abel deploys massive cash pile
Greg Abel has started investing Berkshire's huge cash reserves, buying ten billion dollars in Alphabet shares and acquiring homebuilder Taylor Morrison for eight point five billion dollars.
Buffett's wealth transfer plan
Buffett is giving most of his one hundred forty-five billion dollar fortune to his three children's charitable foundations, allowing them to distribute about five hundred million dollars each year.
“Ruling from the grave does not have a great record.”
The bottom line
Warren Buffett has completed his succession plan by stepping down as Berkshire Hathaway chairman, with his son Howard taking over the role while Greg Abel runs the company as CEO.
