Warren Buffett steps down as chairman of Berkshire Hathaway, becomes chairman emeritus

Warren Buffett is stepping down as chairman of Berkshire Hathaway, closing the book on one of the most celebrated careers in the history of American capitalism. The man who turned a struggling New England textile mill into a roughly $1 trillion conglomerate will transition to the role of chairman emeritus, with Greg Abel assuming full operational control. Buffett announced the CEO transition at Berkshire’s annual shareholder meeting on May 3, 2025. Abel officially took the reins on January 1, 2026, one day after Buffett’s retirement took effect on December 31, 2025. Sixty years, 5.5 million percent To understand what Buffett is leaving behind, consider the math. Berkshire Hathaway’s Class A shares have generated cumulative returns exceeding 5.5 million percent since Buffett took control in 1965. He was 94 years old when he made the announcement in May, which means he spent roughly two-thirds of his entire life running this company. The succession plan had been visible for years. Abel, who served as vice chairman overseeing non-insurance operations and previously ran Berkshire Hathaway Energy, was widely understood to be next in line. The board’s formal confirmation of his appointme...