Warren Buffett Resigns as Chairman of Berkshire Hathaway
In a ground-breaking development for the investment sector, Warren Buffett, aged 96, officially resigned as Chairman of Berkshire Hathaway on Friday, September 18, 2026. This change is effective immediately. The esteemed investor, also known as the “Oracle of Omaha,” has held the chairman position since 1970 and has transformed the company from a floundering textile firm into a $1.2 trillion conglomerate employing nearly 400,000 people.
Buffett, who had already transferred CEO responsibilities to Greg Abel earlier this year, announced the transition in a letter to shareholders, stating, “Father Time always wins.” His son, Howard G. Buffett, a Berkshire board member since 1993, will assume the role of the new Chairman, while Warren will continue on the board as Chairman Emeritus.
Under Buffett’s guidance, Berkshire delivered a compounded annual return of 19.7%, nearly double the S&P 500’s performance over the same period. Its share price has skyrocketed by more than 5,500,000% since the 1960s. Berkshire currently boasts a $365.5 billion cash reserve and owns renowned brands including BNSF Railroad, GEICO, Fruit of the Loom, Duracell, and Dairy Queen.
CEO Greg Abel lauded Buffett’s legacy: “Warren’s impact on Berkshire and its owners is without parallel in the history of American business.”
Source: CNBC – Warren Buffett Resigns as Chairman of Berkshire Hathaway