Home · Business · Oct 30 archive
Private equity in your 401(k)? Heed Warren Buffett’s warning.
Confirmed
In Short: Warren Buffett has stepped down as chairman of Berkshire Hathaway after 56 years, with his son Howard Buffett taking over the role.
Warren Buffett announced his resignation as chairman of Berkshire Hathaway in a letter to shareholders on September 18, 2026. Buffett, 96, has served as chairman since 1970 and CEO until late last year.
Buffett's son, Howard Buffett, was named the new chairman of Berkshire Hathaway. Howard has been a member of the company's board since 1993 and will now guard the company's culture and values.
Berkshire Hathaway, now a $1.1 trillion conglomerate, was transformed by Buffett from a failing textile company over six decades. The company's diverse portfolio includes GEICO car insurance, BNSF railroad, Berkshire Hathaway Energy, Dairy Queen, Fruit of the Loom, and Squishmallows.
Warren Buffett's investment philosophy, which emphasizes buying great businesses at fair prices and holding them long-term, has influenced generations of investors. He advises against buying stocks just because everyone else is buying them.
Buffett's wealth, estimated at $144 billion, comes almost entirely from his Berkshire Hathaway stock. He has often emphasized the importance of temperament over intellect in investing.
In his retirement letter, Buffett expressed gratitude for the privilege of serving as chairman and acknowledged the long apprenticeship he served before becoming CEO at 34.
Howard Buffett, a philanthropist and photographer, has been described as a man of many talents, running a foundation with over $1 billion committed to conflict-affected regions.
Warren Buffett's legacy includes not only his business acumen but also his philanthropic efforts and advice to investors, such as his famous quote, 'It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.'
What this adds
Warren Buffett's transition to chairman emeritus marks a significant shift in leadership at Berkshire Hathaway, but his influence is expected to continue through his son and the company's enduring values.
What's confirmed
- “I have served Berkshire since 1965," Buffett said.
- Warren Buffett has stepped down as chairman of Berkshire Hathaway, the company announced in a statement published early on Friday, having served in the role since 1970.
- Howard Buffett has been a member of the company's board since 1993.
- Buffett, 96, moved into the newly created role of chairman emeritus effective immediately.
- He said Abel runs the company while Howard Buffett will guard its culture and values, calling both worth more than anything on the balance sheet.
- Berkshire Hathaway said Friday that Warren Buffett is stepping down as chairman after more than 50 years in the role.
What's still developing
- Here's another piece of Buffett advice that is extremely important for beginner investors, especially in the modern age of Reddit ( RDDT -30.38% ) message boards: Don't buy certain stocks just because everyone else is buying them or talking about them.
- "If you aren't willing to own a stock for 10 years, don't even think about owning it for 10 minutes."
- "Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble."
- "The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd."
- Buffett invests in great businesses that trade for less than their intrinsic value and holds the investments for as long as they remain great businesses.
- As you might expect, much of Buffett's investment process is proprietary, so we don't know exactly how he researches investments.
- However, here are some of the most important Buffett investing principles that you can incorporate into your own investing strategies.
- Here's something that might surprise you: If you want to invest like Warren Buffett, you don't need to do anything extraordinary.
- Buffett is the 10 th -wealthiest American and the nation’s wealthiest nonagenarian, according to Forbes, with an estimated wealth of $144 billion.
- Howard Graham Buffett farmed thousands of acres, carried a badge as an elected sheriff, photographed war zones and endangered species across more than 100 countries, and runs a foundation with over $1 billion committed to conflict-affected regions like Sudan and the Democratic Republic of Congo.
- “Write your obituary, and try and figure out how to live up to it,” Warren Buffett has famously said Sam Gillette is a Staff Writer on the Human Interest team at PEOPLE.
- “Father Time always wins. He has, however, been generous with me,” said the 96-year-old billionaire investor when making the announcement on Friday, Sept. 18, eight months after relinquishing his position as the multinational conglomerate’s CEO.