The organization further disclosed that his son, Howard, will assume the role of chairman.
Warren Buffett, who is the world’s ten richest person, has stepped down from his position as chairman of Berkshire Hathaway , according to an announcement by the conglomerate.
Buffett will become the company’s ” Chairman Emeritus ” in “recognition of his extraordinary contributions,” according to a statement released to investors by Berkshire Hathaway. The billionaire will continue to serve on the board and “offer his valued judgment and perspective,” according to the conglomerate.
Buffett sent a letter to the shareholders of Berkshire Hathaway along with the announcement. He has taken hold of the Chief Executive Officer job in every respect. He has been making the decisions that matter for some time now, and I have not had to think twice about any of them. The billionaire stated that while his son Howard will “guard its culture and values – both worth more than anything on our balance sheet. Think of Howard as a policy the shareholders own and hope never to claim against,” Abel will oversee the business. His son, Howard, will become Berkshire Hathaway’s new chairman. “Sixty-plus years in, I still have the best job in the world. That is not something many people my age can say, and I have never felt better about what comes next. Mr. “Think of Howard as a policy the shareholders own and hope never to claim against. Buffett’s fortune has been amassed through Berkshire Hathaway stock.
He discussed celebrating his 96th birthday with his family and mentioned working for the company for more than 60 years in the letter. Buffett highlighted his son’s 33-year tenure on the company’s board and stated that he thought this was the ideal time to complete the transition. Buffett’s net worth, according to Forbes, stands at approximately $144.7 billion. Buffett secured the tenth position on the 2026 Forbes 400 ranking of America’s most affluent people, which was released earlier this week. Buffett, 96, will become chairman emeritus and will take on his new role immediately, the company said Friday (September 19, 2026). Howard Buffett has been on the Berkshire Hathaway board since 1993. It was worth more than $140 billion in July 2026.
Howard Buffett’s election as the new chair is in line with its “long-standing succession plan, according to the company. Hailing Abel, Buffet said, “My expectations for him were sky high from the start, and he has exceeded them. Earlier reporting noted: “I have served Berkshire since 1965,” Mr. Buffett said in a letter to shareholders. Buffett said that he is confident in Abel and his son Howard leading Berkshire Hathaway. Earlier reporting noted: “Greg runs the company; Howard will guard its culture and values – both worth more than anything on our balance sheet,” he said.
Earlier reporting noted: Mr.
