Warren Buffett is stepping down as chairman of Berkshire Hathaway, the $1 trillion conglomerate that he led for more than six decades.
Buffett will remain on the board and will continue to offer guidance and advice, he said.
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Sep 18, 2026 · 10:44 AM UTC
NEWS: Saudi Aramco has told European refiners they get no crude next month either, people familiar with the allocations said. Bloomberg reports the cutoff follows the strike on the kingdom’s East-West pipeline to the Red Sea.
September cargoes already slipped. October is now a blank.
Europe will have to buy someone else’s barrels.
Warren Buffett is not just one person:
He is part of a much bigger system.
A man who's stayed focused for many years.
A brain that makes decisions about money and businesses.
A set of ideas about how to find good investments and avoid losing money.
A personal rule about only investing in things he understands.
A way of estimating what a business is really worth.
A habit of reading company reports and other information.
A daily routine of reading and thinking quietly.
A legal person who can own things, pay taxes and sign agreements.
A business leader at Berkshire Hathaway.
Shares that give him voting power over the company.
Berkshire Hathaway, the large company he helps control.
Insurance money that Berkshire can invest while it waits to be paid out.
Profits kept by Berkshire's own businesses.
Money from dividends paid by companies Berkshire owns.
US government debt held as safe, easily available cash.
A board of directors that helps oversee the company.
Managers who run Berkshire's many businesses.
Investment managers who help decide where money goes.
The “Oracle of Omaha” reputation that makes people pay attention to what he says and does.
The annual shareholder meeting where thousands of people gather to hear from him.
The annual shareholder letter where Berkshire explains what happened during the year.
The effect his investment decisions can have on markets, because other investors watch what he buys and sells.
His Giving Pledge commitment to give much of his wealth to charity.
Charitable organisations that distribute donated money.
Government rules and paperwork for reporting investments and paying taxes.
Decades of investment history that have built his reputation.
A network of managers, directors and advisers who help run the whole system.
Warren Buffett looks like one person.
But if you follow what actually makes his power work, you find a human, a mind, a set of ideas, habits, money, companies, managers, laws, information, reputation and institutions all connected together.