Warren Buffett steps down as Berkshire Hathaway CEO at 95, closing a historic chapter

Legendary investor Warren Buffett , famously known as the Oracle of Omaha, has stepped down as Chief Executive Officer of Berkshire Hathaway at the age of 95, bringing to a close one of the most remarkable leadership journeys in global business history.

Buffett took control of Berkshire Hathaway in 1965 when it was primarily a struggling New England textile industry enterprise. At the time, the company operated cotton textile mills that produced fabrics and garments for the domestic American market. The business faced shrinking demand, rising production costs, and declining revenues as textile manufacturing gradually shifted to lower cost countries. Despite efforts to revive operations, the textile segment remained small, loss making, and largely confined to the United States.

Recognising the long term decline of the textile sector, Buffett redirected capital into insurance and other businesses, eventually phasing out textile production while retaining the company name.

Today, Berkshire Hathaway stands as one of the world’s largest conglomerates, with a market value exceeding one trillion dollars. The company owns and invests in businesses spanning insurance, railroads, energy, manufacturing, retail, and consumer products, with operations and investments reaching multiple countries across the globe.

Under Buffett’s leadership, Berkshire assembled a portfolio of iconic investments including Apple , Coca Cola, American Express, and Bank of America, along with wholly owned subsidiaries such as BNSF Railway, Geico, and Berkshire Hathaway Energy. His disciplined value investing philosophy delivered extraordinary long term returns and reshaped modern investing.

The company has announced that Greg Abel will take over as Chief Executive Officer from January 1, 2026, while Buffett will continue to serve as chairman to ensure leadership continuity.

Stepping down at 95, Buffett’s departure as CEO marks the end of an era in American business, leaving behind a legacy defined by patience, integrity, and one of the greatest corporate transformations in history.