Berkshire Hathaway Shifts Leadership as Buffett Era Ends
Berkshire Hathaway ends Buffett era as Greg Abel becomes CEO; shares dip as investors weigh a new leadership era.
Warren Edward Buffett, born August 30, 1930, in Omaha, Nebraska, is an American investor, philanthropist, and chairman of Berkshire Hathaway, widely regarded as one of the most successful investors in history.[1][2] The son of stockbroker and U.S. Congressman Howard Buffett, he displayed entrepreneurial talent early, selling gum and magazines door-to-door as a child and purchasing his first stock at age 11.[1][2] After rejection from Harvard Business School, Buffett studied at Columbia University under Benjamin Graham, the pioneer of value investing, which shaped his strategy of buying undervalued companies for long-term holding.[1][2] In 1956, he launched Buffett Partnership Ltd. in Omaha, becoming a millionaire by 1962. He later acquired struggling textile firm Berkshire Hathaway in the 1960s, transforming it into a diversified conglomerate using insurance "float" for investments.[1][2] Charlie Munger joined as vice chairman in 1978, aiding its growth into one of the world's leading holding companies.[2] Buffett served as Berkshire Hathaway's chairman and CEO from 1970 until January 2026, when he retired as CEO at age 95, succeeded by Greg Abel, while remaining chairman.[1][2][3] His leadership amassed a personal net worth of approximately $148.9 billion as of early 2026, ranking him ninth-richest globally, with Berkshire holding a record $377 billion cash pile.[1][2][3] Dubbed the "Oracle of Omaha," Buffett's annual letters and shareholder meetings influenced generations of investors.[2] A committed philanthropist, he has donated over $50 billion, pledging his fortune—now nearing $150 billion—to charity via his children, Susie, Howard, and Peter.[4] In January 2026, CNBC premiered "Warren Buffett: A Life and Legacy," featuring exclusive interviews on his business philosophy, family, and giving plans.[4] Residing in his 1958 Omaha home, the 95-year-old focuses on Berkshire's institutional continuity.[1]
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