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The Guardian - US
The Guardian - US
Business
Lauren Aratani

Warren Buffett steps down as chair of Berkshire Hathaway after over 50 years

Warren Buffett Howard Buffett Berkshire Hathaway Berkshire Greg Abel
a man is driven in a golf cart
Warren Buffett attends the Berkshire Hathaway Inc annual shareholders' meeting in Omaha, Nebraska, on 3 May 2024. Photograph: Scott Morgan/Reuters

Warren Buffett is stepping down as chair of Berkshire Hathaway, the company that he took from a faltering textile manufacturer into a $1tn conglomerate over the course of 60 years.

Buffett’s son, Howard, 71, will take over as chair. Buffett, 96, cited his age as the main reason behind the transition, noting that he has a one-year-old great-grandchild who is “moving a bit faster than I am these days”.

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