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Warren Buffett steps down as chairman of Berkshire Hathaway: 'Father Time always wins'

Warren Buffett has resigned as chairman of Berkshire Hathaway, appointing his son, Howard Buffett, as his immediate successor. Buffett attributed the decision to age, stating, "Father Time always wins." The transition marks the end of Buffett's leadership of the conglomerate, which spanned more than six decades. Howard Buffett, a 71-year-old farmer and philanthropist, now assumes the role of chairman to ensure the company maintains its established direction.

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  • ✓ Warren Buffett stepped down as chairman of Berkshire Hathaway.
  • ✓ Howard Buffett is the new chairman of Berkshire Hathaway.
  • ✓ Warren Buffett stated, "Father Time always wins."
  • ✓ Howard Buffett is 71 years old.
🛡️ Source Corroboration: 7 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Warren Buffett officially stepped down as chairman and named Howard Buffett as the new chairman effective immediately.

Live updates

  1. Warren Buffett steps down as Berkshire Hathaway chairman

    Warren Buffett has resigned as chairman of Berkshire Hathaway, appointing his son, Howard Buffett, as his immediate successor. Buffett attributed the decision to age, stating, "Father Time always wins." The transition marks the end of Buffett's leadership of the conglomerate, which spanned more than six decades. Howard Buffett, a 71-year-old farmer and philanthropist, now assumes the role of chairman to ensure the company maintains its established direction.

    Why it matters

    Buffett built Berkshire Hathaway into one of the world's largest conglomerates through a strategy of value investing. His departure represents a major leadership shift for the company and its investors. Howard Buffett takes over as the new chairman to prevent the organization from straying from its core principles.

    What is confirmed

    • Warren Buffett stepped down as chairman of Berkshire Hathaway.
    • Howard Buffett is the new chairman of Berkshire Hathaway.
    • Warren Buffett stated, "Father Time always wins."
    • Howard Buffett is 71 years old.

    Still unconfirmed

    • Buffett served as chairman for 61 years.
    • Buffett served as chairman for 56 years.

    What to watch next

    • Investor reactions to the leadership transition
    • Howard Buffett's first official policy decisions as chairman
    Sources used for this update (9)
    1. CNBC — Warren Buffett stepping down as chairman of Berkshire Hathaway: 'Father Time always wins'
    2. CNN — Warren Buffett steps down as chairman of Berkshire Hathaway
    3. Yahoo Finance — Warren Buffett is stepping down as Berkshire Hathaway chair, and his son Howard knows his life has just officially changed
    4. Business Insider — Who is Howard Buffett? Meet Warren Buffett’s farmer-philanthropist son and Berkshire Hathaway’s new chairman
    5. CNBC — Buffett steps down, Wall Street bounces back, 2027 'truck wars' and more in Morning Squawk
    6. finance.yahoo.com — Warren Buffett Steps Down as Berkshire Chairman After 61 Years: ‘Father Time Always Wins’
    7. finance.yahoo.com — Warren Buffett Steps Down as Berkshire Hathaway Chairman After 56 Years. Here's What Investors Should Expect Moving Forward.
    8. www.cnbc.com — Buffett takes next step in plan to keep Berkshire from straying
    9. www.aol.com — Warren Buffett steps down as Berkshire chairman, replaced by his son Howard
    confidence 90%
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