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Warren Buffett steps down as Berkshire chairman after six decades

Warren Buffett has resigned as chairman of Berkshire Hathaway after six decades leading the conglomerate. He has named his son, Howard Buffett, as his successor. Buffett, who managed the company into a $1 trillion conglomerate, remarked that "Father Time always wins" upon his departure. Howard Buffett brings a non-traditional business background to the role, having previously worked as a war photographer and a sheriff.

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  • ✓ Warren Buffett stepped down as chairman of Berkshire Hathaway after six decades.
  • ✓ Howard Buffett, the son of Warren Buffett, is the new chairman of Berkshire Hathaway.
  • ✓ Berkshire Hathaway is a $1 trillion conglomerate.
🛡️ Source Corroboration: 13 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

Warren Buffett resigned as chairman and appointed his son Howard Buffett as the new leader.

Live updates

  1. Warren Buffett steps down as Berkshire Hathaway chairman

    Warren Buffett has resigned as chairman of Berkshire Hathaway after six decades leading the conglomerate. He has named his son, Howard Buffett, as his successor. Buffett, who managed the company into a $1 trillion conglomerate, remarked that "Father Time always wins" upon his departure. Howard Buffett brings a non-traditional business background to the role, having previously worked as a war photographer and a sheriff.

    Why it matters

    Buffett is one of the most influential investors in history. This transition marks the first time in 60 years that the company will operate under different leadership. The move is part of a plan to ensure the company does not stray from its established principles.

    What is confirmed

    • Warren Buffett stepped down as chairman of Berkshire Hathaway after six decades.
    • Howard Buffett, the son of Warren Buffett, is the new chairman of Berkshire Hathaway.
    • Berkshire Hathaway is a $1 trillion conglomerate.

    Still unconfirmed

    • Howard Buffett previously served as a sheriff and a war photographer.

    What to watch next

    • Market reaction to Howard Buffett's leadership style
    • Changes to Berkshire Hathaway's investment strategy under new management
    Sources used for this update (13)
    1. CNN — Warren Buffett steps down as chairman of Berkshire Hathaway
    2. CNBC — Buffett steps down, Wall Street bounces back, 2027 'truck wars' and more in Morning Squawk
    3. The New York Times — Warren Buffett Steps Down as Berkshire Chairman and Names Son to Replace Him
    4. wsj.com — Who Is Howie Buffett, Berkshire Hathaway’s New Chairman?
    5. BBC — Warren Buffett steps down after six decades at Berkshire - 'Father Time always wins'
    6. WSJ — Buffett Hands Berkshire Chairman’s Seat to Son Howard
    7. The Economist — World in Brief: Warren Buffett leaves Berkshire Hathaway; Trump approves F-35 sale to Saudi Arabia
    8. inc.com — 12 Warren Buffett Quotes Worth Remembering as He Steps Down From Berkshire Hathaway
    9. Fortune — Meet Warren Buffett's son Howard, a former sheriff, war photographer, and now, Berkshire's new chairman
    10. UnionLeader.com — Warren Buffett steps down as Berkshire chairman, replaced by his son Howard
    11. www.cnbc.com — Buffett takes next step in plan to keep Berkshire from straying
    12. nairametrics.com — Warren Buffett steps down as Berkshire Hathaway chairman after 60 years
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