Berkshire Hathaway enters post-CEO era as Warren Buffett turns 96

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Berkshire Hathaway post-CEO era

Highlights

Berkshire Hathaway's market value surpassed $1 trillion in late 2024 following decades of acquisitions including Apple, BNSF Railway, and Alleghany.
Berkshire shares rose by 6,100,000% from 1964 to 2025 under Warren Buffett, vastly outperforming the S&P 500's 46,000% return including dividends.
After reducing its Apple position, Berkshire built a nearly $38 billion stake in Alphabet by June 30, making it the third-largest holding after Apple and American Express.

Career milestones and Berkshire buildout

As first reported by Business Insider, Buffett marks his 96th birthday on August 30, his first since stepping down as Berkshire Hathaway CEO at the start of 2026. He still serves as chair of the company, ending a 55-year tenure as chief executive but remaining active in the business.

Born in Omaha, Nebraska, in 1930 during the Great Depression, Buffett starts early in business by selling gum, Coca-Cola bottles and newspapers, and later builds a pinball-machine venture. He buys his first stock at 11, files his first tax return at 13 and purchases a farm at 14, building an early record of investing and entrepreneurship.

After studying at Wharton and the University of Nebraska-Lincoln, Buffett goes to Columbia Business School, where Benjamin Graham's teachings shape his value-investing approach. He later works at Graham's firm, returns to Omaha in 1956 and launches Buffett Partnership, which grows rapidly as he applies bargain-focused investing before shifting toward high-quality companies with durable competitive advantages, a change reinforced by Charlie Munger.

Buffett begins buying Berkshire Hathaway shares in 1962 and takes control in 1965, eventually using insurance operations and their float to fund a wider acquisition and investment strategy. Over the following decades, Berkshire expands through stakes and deals involving American Express, Disney, See's Candies, Coca-Cola, Geico, General Re, BNSF Railway, Precision Castparts, Apple and Alleghany, helping lift the group's market value above $1 trillion in late 2024.

Legacy, succession and market impact

Buffett's record continues to define Berkshire's standing in global markets. During his time as CEO, Berkshire shares rise by 6,100,000% between 1964 and 2025, or nearly 20% annually, compared with roughly 46,000% for the S&P 500 including dividends over the same period.

Succession planning becomes a major focus in recent years, with Buffett naming Greg Abel, head of Berkshire's non-insurance operations, as his successor in 2021. Abel takes over as CEO on New Year's Day 2026, while Buffett remains chair and continues coming to the office five days a week.

The transition comes after major personal and corporate milestones, including Munger's death in November 2023 and Buffett's continued philanthropy. He has given away more than half of his wealth since 2006 and has directed his children to distribute virtually all of his remaining $144 billion fortune to charitable causes by the end of 2034.

Berkshire is still adjusting its portfolio in the new era. The company has reduced its Apple stake over the past three years, while also building a large position in Alphabet that reaches nearly $38 billion as of June 30, making it the conglomerate's third-largest stock holding after Apple and American Express.

In our earlier article on Berkshire Hathaway’s post-succession market performance, we noted that the company’s Class B shares were only slightly higher year-to-date, lagging the S&P 500 despite Buffett remaining active as chair. We also highlighted investor uncertainty around Greg Abel’s leadership, the lack of a major acquisition, and Berkshire’s growing Alphabet position as key factors shaping sentiment.

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