Warren Buffett is stepping down as chairman of Berkshire Hathaway's board, the conglomerate said in a Sept. 18 press release, though he will remain a director and take the title of chairman emeritus. Howard Graham Buffett, one of Buffett's sons, has been appointed the new chairman of the board, effective immediately. Buffett, 96, had already handed the chief executive role to his hand-picked successor Greg Abel on Jan. 1, 2026, following the death of longtime partner Charlie Munger at age 99 in November 2023. In his Sept. 18 letter to shareholders, Buffett said his expectations for Abel were sky high from the start and that Abel has exceeded them, adding that Abel has been making the decisions that matter for some time. Under Abel, Berkshire has pole-vaulted Alphabet to a top-five holding, and as of June 30 its cash, cash equivalents, and Treasury bill position sat at $365.5 billion, more than its combined public stock holdings, which were worth $360.1 billion as of market close on Sept. 17.
Alphabet Inc Class CUnder Abel, Berkshire pole-vaulted Alphabet to a top-five holding, signaling increased investor demand for the shares.
Apple Inc.
Berkshire Hathaway IncBuffett steps down as chairman with son Howard named successor, but he stays a director and Abel's CEO tenure is praised — no clear directional driver.
