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    "parsed_content": "AdvertisementSKIP ADVERTISEMENTSupported bySKIP ADVERTISEMENTWarren Buffett Steps Down as Berkshire Chairman, Names Son to Replace Him\u201cFather Time always wins,\u201d the 96-year-old, who turned Berkshire Hathaway into an investing powerhouse, said in a letter to shareholders. He will remain on the board as chairman emeritus.Listen \u00b7 3:03 min Share full articleWarren Buffett at Berkshire Hathaway\u2019s annual shareholder meeting in 2024.Credit...Scott Morgan\/ReutersBy Michael J. de la MercedSept. 18, 2026Updated 7:47 a.m. ETSee more of our coverage in your search results.Encuentra m\u00e1s de nuestra cobertura en los resultados de b\u00fasqueda. Add The New York Times on GoogleAgrega The New York Times en Google Berkshire Hathaway said on Friday that Warren E. Buffett, who turned the company into one of the most successful investment firms in history and became the sage of American capitalism, was stepping down as its chairman.Mr. Buffett, who turned 96 on Aug. 30, will become chairman emeritus, effective immediately, and remain on Berkshire\u2019s board. His son, Howard G. Buffett, will become chairman.\u201cServing as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted,\u201d Mr. Buffett wrote in a letter to Berkshire shareholders.The move by Berkshire is the latest step in a long-planned leadership transition. Mr. Buffett stepped down as chief executive of the company at the end of last year, and a longtime lieutenant, Greg Abel, took over.AdvertisementSKIP ADVERTISEMENT\u201cFather Time always wins,\u201d Mr. Buffett wrote on Friday. \u201cHe has, however, been generous with me.\u201dOver some six decades at the conglomerate, Mr. Buffett grew Berkshire into a trillion-dollar powerhouse, running businesses like the insurance giant GEICO and the Burlington Northern Santa Fe railroad, in addition to an enormous investment portfolio with stakes in blue-chip companies like Apple and Coca-Cola.Mr. Buffett became known as the \u201cOracle of Omaha\u201d for his long record of investing prowess. He built Berkshire\u2019s fortune by adhering to what\u2019s known as value investing: ignoring fads and seeking undervalued companies to invest in for the long term. Mr. Buffett broke it down in what has become a much-repeated quote: \u201cWe simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.\u201dBerkshire has amassed a cash hoard of more than $360 billion, and each move it makes with its money is closely scrutinized by investors, especially since Mr. Abel took charge.\u201cWarren is obviously a hard act to follow,\u201d Mr. Abel wrote in his first letter to shareholders this year. Mr. Buffett\u2019s annual letters, which mixed investment advice with folksy Midwestern aphorisms, observations about the world and sometimes politics, were widely influential across Wall Street and Main Street. Tens of thousands of peopled flock to Nebraska every year to ask him questions at Berkshire\u2019s annual meeting, dubbed \u201cWoodstock for capitalists.\u201d\u201cWarren\u2019s impact on Berkshire and its owners is without parallel in the history of American business,\u201d Mr. Abel said in a statement on Friday. \u201cThe culture Warren built and the values he championed will remain at the heart of Berkshire, and Howard will be their guardian.\u201d Howard Buffett, 71, has been a director at Berkshire for more than 30 years.AdvertisementSKIP ADVERTISEMENT",
    "published_at": "2026-09-18T10:21:34+00:00",
    "author_name": "Michael J. de la Merced",
    "site_name": "The New York Times",
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    "ai_headline": "Warren Buffett Steps Down as Berkshire Chairman, Names Son to Replace Him",
    "ai_simplified_title": "Warren Buffett Steps Down as Berkshire Chairman, Names Son",
    "ai_excerpt": "Warren Buffett, 96, has stepped down as chairman of Berkshire Hathaway, naming his son, Howard G. Buffett, as his replacement. He will remain on the board as chairman emeritus, continuing a long-planned leadership transition.",
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