Warren Buffett hands over $1 trillion financial empire to son

Warren Buffett, in Omaha, Nebraska (United States), May 5, 2019. NATI HARNIK/AP PHOTO This marks the final chapter in one of the greatest stories in American capitalism. Warren Buffett, 96, announced on Friday, September 18, that he was stepping down as chairman of the board of Berkshire Hathaway, the conglomerate he had led for six decades. He handed the role to his son, Howard Buffett, known as "Howie," age 71, after previously handing over the CEO position to Greg Abel in 2025. However, the most famous American investor has not fully retired: He remains chairman emeritus and keeps a seat on the board of directors.