WORLD
Warren Buffett steps down as Berkshire Hathaway chairman after 56 years

Warren Buffett steps down as Berkshire Hathaway chairman after 56 years

Retirement from chairmanship follows CEO exit earlier this year Son Howard named as successor Warren Buffett, the 96-year-old investor known as the "Oracle of Omaha," has stepped down as chairman of Berkshire Hathaway, the investment company he built, after 56 years at its helm. Berkshire said in a statement Thursday (local time) that Buffett had relinquished the chairmanship and been named honorary chairman. The company said he would remain on the board in that capacity and continue to offer valuable judgment and perspective. Buffett had already stepped down as CEO of Berkshire effective Jan. 1 this year. His departure from the chairmanship — a post he assumed in 1970 — marks a full exit from the company's executive leadership after 56 years. His son Howard Buffett has been named as the new chairman. Born in 1930, Buffett ranks among the world's 10 wealthiest people according to the Bloomberg Billionaires Index. He had amassed $1 million by age 32 and went on to build Berkshire Hathaway into a global investment powerhouse through decades of compounding returns. In a separate letter to shareholders, Buffett wrote: "Father Time always wins, but he has been kind to me."

Ko Eun-gyeol Sept. 18, 2026

LATEST ARTICLES
MORE FROM HEADLINES