Warren Buffett Steps Down as Berkshire Hathaway Chairman at 96

Key Facts

1Warren Buffett announced he is stepping down as Chairman of Berkshire Hathaway, expressing high confidence in the company's future.

2Greg Abel, Buffett's hand-picked successor, is now running the company following the transition.

Warren Buffett announced he is stepping down as Chairman of Berkshire Hathaway at the age of 96. The Motley Fool reported that Buffett expressed high confidence in the company's future as Greg Abel, his hand-picked successor, officially takes over leadership following the transition.

This leadership change comes as the company's stock shows steady performance, with BRK-B closing at $532.02 on October 16, 2026. The stock reached a high of $532.64 and a low of $528 during that session, as markets processed the long-anticipated succession plan designed to maintain corporate stability.