For sixty years, Warren Buffett was Berkshire Hathaway, and Berkshire Hathaway was Warren Buffett. On December 31, 2025, that era formally changed. Buffett, widely regarded as the most successful investor in modern history, stepped down as chief executive officer of the conglomerate he built, handing the role to his chosen successor, Greg Abel. Buffett remains with the company as chairman of the board.
The making of the Oracle of Omaha
Born in Omaha, Nebraska, in 1930, Buffett showed an early fascination with numbers and business. He studied under the economist Benjamin Graham at Columbia University, absorbing the principles of value investing that would guide his entire career: buy quality businesses for less than they are worth, and hold them for the long term. In 1965, he took control of Berkshire Hathaway, then a struggling textile manufacturer, and began reshaping it into something entirely different.
Building a trillion-dollar conglomerate
Over the following decades, Buffett transformed Berkshire into one of the world’s most valuable companies, a sprawling collection of businesses that includes the insurer GEICO, the BNSF railroad, energy and utility operations, and large stakes in public companies. His approach was distinctive: a decentralized structure that let subsidiary managers run their own operations, paired with his own patient eye for capital allocation. His annual shareholder letters and Omaha shareholder meetings turned him into a kind of moral compass for everyday investors.
A carefully planned succession
The handoff to Abel was years in the making. Berkshire confirmed Abel as the eventual successor in 2021, and Buffett had already placed him in charge of the company’s many non-insurance businesses. Abel, who built his reputation running Berkshire Hathaway Energy, is known as a disciplined operations manager and is expected to take a more hands-on role with subsidiaries than Buffett did. Buffett, now in his mid-nineties, continues to come to the office and remains chairman, giving Abel access to his longtime mentor.
Buffett’s philanthropy is as notable as his investing. He co-founded the Giving Pledge alongside Bill Gates and has committed to giving away the vast majority of his fortune. His disciplined, long-horizon philosophy stands as a counterpoint to the fast-moving technology fortunes of founders like NVIDIA’s Jensen Huang and entrepreneurs like Sara Blakely. More leaders are profiled in our Executive section, with further detail at his Forbes profile.
Frequently asked questions
Is Warren Buffett still the CEO of Berkshire Hathaway?
No. Buffett stepped down as CEO on December 31, 2025, and Greg Abel became chief executive officer on January 1, 2026. Buffett remains chairman of the board.
Who replaced Warren Buffett at Berkshire Hathaway?
Greg Abel, who previously led Berkshire’s non-insurance operations and built Berkshire Hathaway Energy, became CEO in January 2026. He had been publicly named as Buffett’s successor in 2021.
How did Buffett build Berkshire Hathaway?
He took control of a failing textile company in 1965 and, using value investing principles and a decentralized management style, grew it into a conglomerate of insurance, rail, energy, and other businesses that became one of the most valuable companies in the world.
