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Jason Ma

Warren Buffett abruptly steps down as Berkshire chair as 'Father Time' wins, handing role to son Howard who will 'guard its culture and values'

Warren Buffett Howard Berkshire Greg Abel

(Credit: Houston Cofield/Bloomberg via Getty Images)

Investing legend Warren Buffett further pared back his role at Berkshire Hathaway, announcing Friday that he has stepped down as the conglomerate’s chairman.

In a letter to shareholders, he suggested his age, 96, weighed on his decision, saying that one of his great grandchildren just turned 1, and is “moving a bit faster than I am these days.”

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