Warren Buffett stepped down as chairman of Berkshire Hathaway on Friday, handing the role to his son, Howard Graham Buffett. Warren will remain on the company's board.
Howard, 71, has served as a Berkshire director for 33 years, since 1993. His career outside the company has ranged from farming to law enforcement to conflict photography. He previously served as a Douglas County, Nebraska commissioner from 1989 to 1992 and as sheriff of Macon County, Illinois, from September 2017 to November 2018. He runs a 1,500 acre family farm in Illinois and oversees foundation research farms covering more than 1,500 acres in Arizona and over 9,200 acres in South Africa. He has photographed in roughly 130 countries, often documenting food insecurity and conflict in places such as Sudan and Congo.
Howard's new role is distinct from the company's operational leadership. Greg Abel, who became Berkshire's chief executive in January 2026, continues to run day to day operations and handle capital allocation and acquisitions. Susan Decker, the former Yahoo president who serves as Berkshire's lead independent director, remains in that post as well.
Warren Buffett described the division of responsibilities directly, saying Abel runs the company while Howard will guard its culture and values, calling both worth more than anything on the company's balance sheet.
Warren Buffett's remaining fortune is valued at $145 billion. His three children together distribute roughly $500 million a year through their family foundations.