Warren Buffett, the legendary investor and billionaire behind Berkshire Hathaway’s decades-long rise, has announced he will officially step down as CEO on January 1, 2026, ending a historic six-decade tenure that reshaped American capitalism.
At 94 years old, Buffett cited the physical effects of aging as the reason behind his decision, though he assured shareholders and fans that his mental sharpness and investment instincts remain intact.
“I didn’t really start getting old, for some strange reason, until I was about 90,” Buffett told The Wall Street Journal in a candid phone interview. “But when you start getting old, it does become — it’s irreversible.”
Buffett’s announcement comes as Berkshire Hathaway’s stock hovers near record highs, with a staggering market valuation of nearly $1.2 trillion. It’s a poetic end to a journey that began in 1965 when Buffett took over a struggling textile mill and methodically transformed it into one of the world’s most powerful conglomerates — home to brands like Geico, Dairy Queen, and BNSF Railway.
The board of Berkshire Hathaway has unanimously approved Greg Abel, vice chairman of non-insurance operations, as Buffett’s successor. Abel will assume the role of CEO in 2026, while Buffett remains on as chairman of the board.
Despite his decision to step back from day-to-day leadership, Buffett emphasized that he still has what it takes to steer investment decisions — especially during volatile times.
“I will be useful here if there’s a panic in the market,” he said. “I don’t get fearful when things go down in price… and that really isn’t a function of age.”
Yet Buffett didn’t shy away from the realities of aging. He admitted to occasional issues with balance, forgetting names, and diminished vision when reading newspapers — changes he described not with complaint, but clarity.
Greg Abel: The Heir Apparent
Long viewed as Buffett’s natural successor, Greg Abel, 62, has been overseeing Berkshire’s vast non-insurance operations since 2018. Known for his disciplined management style and deep understanding of the company’s ethos, Abel is expected to maintain Berkshire’s decentralized structure and long-term investment approach.
Buffett’s endorsement of Abel was characteristically straightforward: “Greg understands capital allocation, he understands the businesses, and he knows not to mess with what works.”
Buffett’s legacy is unmatched — not just in returns (Berkshire’s stock has delivered over 3.6 million percent since he took over), but in philosophy. His patient, value-based approach to investing has influenced generations of investors and shaped how companies are run.
His departure from the CEO role will mark the close of an era, but the man known as the “Oracle of Omaha” is not disappearing.
“I don’t need a title to contribute,” he said. “I’ve still got ideas. And when the market gets scared — I won’t be.”
Warren Buffett: By the Numbers
- Age: 94 (turns 95 in August)
- Years as CEO: 60
- Berkshire Market Cap: ~$1.2 trillion
- Successor: Greg Abel (CEO starting Jan 1, 2026)
