Warren Buffett's 71-year-old son Howard became Berkshire Hathaway's chairman after his father stepped down, transitioning from a career as a farmer, sheriff, war photographer, and foundation leader. Howard will serve as a guardian of Berkshire's culture and values rather than manage day-to-day operations, which remain under CEO Greg Abel. He also helps distribute his father's $145 billion fortune through family foundations.
Warren Buffett, 96, is stepping down as chairman of Berkshire Hathaway after leading the $1 trillion conglomerate since 1965, becoming chairman emeritus while his son Howard assumes the role. CEO Greg Abel, who took over in 2025, will continue running operations while Howard serves as guardian of the company's culture and values. Buffett cited his advancing age, noting "Father Time always wins," but expressed confidence in Berkshire's future.