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Warren Buffett Gave Up The Last Title He Had: "Father Time Always Wins"
On Friday 18 September 2026, Warren Buffett stepped down as chairman of Berkshire Hathaway, effective immediately. He is 96. He had already handed over the chief executive's office; the chair was the last title he held.
His own line on the decision: "Father Time always wins."
His son Howard Buffett becomes chairman. Howard has sat on the Berkshire board for 33 years, and the company says the promotion was part of a long-term succession plan. Warren stays on as chairman emeritus.
Greg Abel, who succeeded Buffett as chief executive, said: "Warren's impact on Berkshire and its owners is without parallel in the history of American business."
Buffett was asked about that succession at the annual meeting in May 2026, and his answer is in this reel, in his own voice.
He took control of a failing New England textile company in 1965. Sixty-one years later, the last thing he built was the way it carries on without him.
Footage: CNBC's coverage of the Berkshire Hathaway annual meeting, 2 May 2026, courtesy on screen.
References
Reporting drawn from Berkshire Hathaway - CNBC - NPR - The Washington Post - CNN - Axios
What the reel says
Narration as scripted and voiced.
Warren Buffett has given up the last job he was still holding
On Friday, at 96, he stepped down as chairman of Berkshire Hathaway, effective immediately
He had already handed over the chief executive's office last year. The chair was the last title he had
He is 96 years old. He has been at Berkshire since 1965, which is longer than most of the people who now work there have been alive
The line he used was, "Father Time always wins."
His son Howard takes the chairmanship. He has sat on the Berkshire board for 33 years, and the company says the handover was part of a long-planned succession
The running of the business is already somebody else's job. Greg Abel became chief executive this year
Buffett was asked about that choice at the annual meeting in May. This is what he said about it
Greg is doing everything I did and then some, and he's doing it better in all cases, and he's got, he's the right person.
Abel's own words on Friday were that Warren's impact on Berkshire and its owners is without parallel in the history of American business
Buffett does not disappear. He stays on as chairman emeritus. He is not leaving the building, he is leaving the chair
He took control of a failing textile mill in 1965. Sixty-one years later, the last thing he built was the way it carries on without him
