Buffett Steps Down as Berkshire Chairman After Six Decades
Warren Buffett, the legendary investor known as the Oracle of Omaha, has stepped down as chairman of Berkshire Hathaway after more than six decades at the helm. The 96-year-old billionaire will transition to an honorary role as chairman emeritus, making way for his son Howard to take over as chairman.
Buffett purchased Berkshire Hathaway in 1965 and transformed it into a multinational conglomerate with a diverse portfolio of successful investments. Today, the company owns significant stakes in firms like Apple, American Express, and Coca-Cola.
In a letter to shareholders, Buffett expressed his gratitude for the opportunity to lead the company and praised his successors, saying 'Greg runs the company; Howard will guard its culture and values, both worth more than anything on our balance sheet.'