Warren Buffett, who is 96 years old, is leaving his job as chairman of the company Berkshire Hathaway. He has led the company for over 60 years and is known for being a very successful investor. Warren Buffett’s son, Howard Buffett, who is 71, will become the new chairman. Greg Abel will run the daily business as the new chief executive from 2026.

Warren Buffett is leaving this role because he is getting older. He said, "Father Time always wins," meaning that everyone gets older and must step down one day. He will stay with the company as chairman emeritus, which means he will give advice but not make important decisions.

Because of this change, Howard Buffett will protect the company’s way of doing things, but Greg Abel will make most business decisions. Many people are watching to see if Berkshire Hathaway can be successful without Warren Buffett leading it.