“Oracle of Omaha” Warren Buffett Steps Down as Chairman—The Full Story of 60 Years of History and Generational Change

On September 18, 2026, the major U.S. investment firm Berkshire Hathaway announced that Warren Buffett (96), globally known as the “Oracle of Omaha,” has stepped down as chairman and assumed the role of chairman emeritus.

Buffett led the company for over 60 years since acquiring management control in 1965, growing it into one of the world’s largest investment firms. Although he is stepping down from the core of management, he will remain on the board and continue to provide advice.

“No one can beat aging”—we unravel the decision made by Buffett, as stated in his letter to shareholders, and the full story of the meticulously planned business succession based on objective facts.

1. “No one can resist the passage of time”—The true intentions Buffett revealed to shareholders

Buffett, who celebrated his 96th birthday on August 30, sent a letter to shareholders in conjunction with the announcement of his retirement. In it, he wrote,

“No one can beat the passage of time. But time has been generous to me.”

He noted this while reflecting on his journey at the company, stating that now is the optimal time to complete the management transition.

In the letter, Buffett also included his characteristic humor, such as expressing his own aging through a joke about the speed of his one-year-old great-grandchild’s feet.

According to Forbes estimates, Buffett’s total assets have reached approximately $144.7 billion (about 23.15 trillion yen), placing him 10th on the world’s billionaire list. He is also one of the world’s leading philanthropists, having donated approximately $68.3 billion (about 10.93 trillion yen) to date, and continues his pledge to donate more than 99% of his total assets.

2. Son Howard Buffett becomes chairman—“Guardian of corporate culture”

Buffett’s eldest son, Howard Buffett (71), has assumed the role of the new chairman.

Howard has a track record of serving as a director at Berkshire for 33 years since 1993. This appointment is in line with the succession plan the company has been advancing for many years.

In his letter, Buffett emphasized Howard’s role as follows:

• “He will take on the role of protecting the company’s culture and values, which are more valuable than anything on our balance sheet.”

• “Something like an insurance policy held by our shareholders (an insurance policy we hope will never be triggered).”

By separating and dividing management duties from the preservation of corporate culture, the goal is to uphold the investment philosophy and corporate character that are the foundation of the company.

3. New CEO Greg Abel leads operations—“A smooth transition from the ‘Buffett style’”

The person directing actual business operations and investment decisions is CEO Greg Abel (64).

Abel is a businessman who built his career at the major accounting firm PwC and in the electric power industry, rising to prominence primarily in the energy sector. Buffett praised Abel’s management skills as “exceeding even his initial very high expectations,” and revealed that Abel has already been handling many of the important day-to-day decisions.

Furthermore, Abel frequently communicates and builds relationships of trust with the leadership of major investment targets, including the five major Japanese trading companies in which Berkshire has invested.

Summary: From Charisma to Organization, Berkshire Faces a Historic Turning Point

The transition from the absolute presence of Warren Buffett to an organized and planned structure of ‘Operational Management (CEO Abel) x Cultural Succession (Chairman Howard)’ is now complete.

How will they inherit and develop the unwavering trust from the market and investors, as well as the established investment philosophy? The world’s attention is focused on this new chapter for a massive corporation that continues to hold immense influence over the global economy and stock markets.