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Posted on 09/18/2026 1:10:59 PM PDT by E. Pluribus Unum
The legendary investor’s son Howard will assume the role, completing a succession plan years in the making
Warren Buffett stepped down as chairman of Berkshire Hathaway and appointed his son Howard to succeed him, the final phase of a succession plan that has brought the $1 trillion conglomerate into a new era.
Buffett, who had tipped Howard as Berkshire’s next chairman years earlier, announced the news Friday in a letter to investors. Buffett ceded his role as CEO to Greg Abel in January. He said he would remain on the board and serve as chairman emeritus.
Howard, known as Howie, will assume the chairman role effective immediately. The company said Warren Buffett will “continue to offer his valued judgment and perspective.” Charlie Munger, Berkshire’s longtime vice chairman, died in 2023.
“I have served on this board since 1993 and have had the benefit of watching my father and Charlie build Berkshire,” Howard Buffett wrote in a statement. “Greg runs the company and has my full confidence. My responsibility is a narrower one: to lead the Board well and help protect the culture and values that make this company exceptional.”
Howard’s appointment completes a succession plan years in the making, marking the final chapter in his father’s retirement from a company he transformed into a paragon of American capitalism. In many ways, Berkshire remains a unique corporate institution: a sprawling insurance operation welded to a conglomerate of businesses that range from industrial machinery and utilities to railways and fast-food restaurants, and a massive portfolio of stocks overseen by the CEO.
“Serving as your Chairman has been the privilege of a lifetime, and I have never taken your trust for granted,” Buffett, 96, wrote. “Father Time always wins. He has, however, been generous...”
(Excerpt) Read more at wsj.com ...
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glad i sold all my brk-B shares months ago
The GOAT of GOATs.
People waste money on books, waste time on youtockcasts, subscribe to newsletter, and whatever other site or app is hot.
From a personal finance and investing perspective? Nobody taught me more or had better advice than Warren.
And whether you read/watched/got weird (yeah, the ‘woodstock of capitalism was weird. Fun, but weird) or even invested in BRK.B/A —
I thank him for his advice. Really, it’s a lot of common sense, stay the course conventional wisdom, and plain cautious investing and avoidance of money traps.
But he has a gift for distilling, combining, and recommending that he gave away for free - while others were selling books, hosting seminars, and grifting the same basic advice (at best!).
He’s never liked the “oracle” of Omaha thing - he’s always said (unlike other yappers) he’s just a guy doing careful things and we shouldn’t overcomplicate.... but fare thee well, Warren. He’s obviously done well enough that he doesn’t need MY best wishes, but I thank him for the wisdom I mostly learned from him for free.
What will he do to pay his bills now?
Well if he votes republican he will get a check for 5 grand
Yup.
Everybody wants to sell you better ideas on the margins, but I’ve watched numerous interviews where he almost gets perplexed when interviewers would ask things like ~but what’s your One Simple Trick~?
Not complicated. You can thrive with just that basic concept.
Good interviews would delve into how he makes those determinations - and unlike most blabbers, he’ not shy about discussing his mistakes - but it’s more wisdom, just ever-more complicated. Or maybe not “complicated”, just “look at all the angles and data”.
He liked to buy undervalued companies and then lobby congress to change the laws to accommodate the businesses he owned.
“then lobby congress to change the laws to accommodate the businesses he owned.”
Like BNSF Railway.
He also donated approx. $400 million to Planned Parenthood. Average cost of an abortion in the USA $800. So 1/2 million babies.
Sweet-toothed grandfatherly professed agnostic Warren Buffett is 96 years old.
He’s the one that could really use some honest advice right now.
When my wife and I were looking for our first house back in 1990, we looked at log cabin on the highway to Ft. Calhoun, Nebraska. The realtor said Howard bought the land, built a tree house and then built the cabin. It was in poor shape and had extensive water damage. It was nothing close to what a billionaire could afford.
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