Warren Buffett steps down as Berkshire chairman and names son to replace him

‘Father Time always wins,’ the 96-year-old, who turned Berkshire Hathaway into an investing powerhouse, said in a letter to shareholders. He will remain on the board as chairman emeritus.

Posted Friday, September 18, 2026 10:49 am

Warren Buffett

Michael J. de la Merced | The New York Times

Warren E. Buffett, who built one of the most successful investment firms in history and became the sage of American capitalism, is stepping down as chairman of Berkshire Hathaway, the company said Friday.

Mr. Buffett, who turned 96 on Aug. 30, will become chairman emeritus, effective immediately, and remain on Berkshire’s board. His son, Howard G. Buffett, will become chairman.

“Serving as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted,” Mr. Buffett wrote in a letter to Berkshire shareholders.

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Warren Buffett steps down as Berkshire chairman and names son to replace him

‘Father Time always wins,’ the 96-year-old, who turned Berkshire Hathaway into an investing powerhouse, said in a letter to shareholders. He will remain on the board as chairman emeritus.

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