Is Warren Buffett still running Berkshire Hathaway?

He stepped down as chief executive at the end of 2025. Greg Abel has run the company since 1 January 2026. Buffett is still chairman and still the largest shareholder — but he is no longer the one deciding where the money goes.

By Nathan Wickham-Hurd · Founder, Oak Growth · First-class Economics & Finance, MBA · Last reviewed September 2026

The short answer

No. Warren Buffett stepped down as chief executive of Berkshire Hathaway on 31 December 2025, after sixty years in the job. Greg Abel became CEO on 1 January 2026 and has run the company since. Buffett remains chairman and remains Berkshire's largest shareholder, but he is no longer the decider on capital allocation — Abel is.

Context, September 2026. Buffett announced his intention to step down in May 2025 and the board approved Abel as successor shortly after. The handover completed at the end of that year. Berkshire's Class A shares fell 1.4% on Abel's first day. In his own words before handing over, Buffett said Abel "will be the decider" and that he would rather have Abel handling his money than any top investment adviser in the United States. Quarterly filings since have been signed by Gregory E. Abel as principal executive officer.

What Buffett still does

He is still chairman of the board and still the largest individual shareholder. As of the most recent ownership filing he held 188,290 Class A shares and 1,162 Class B shares — about 38.2% of the Class A stock, 29.7% of the aggregate voting power, and 13.2% of the total economic interest. That voting position means his influence has not disappeared, even though the executive role has.

He also continues to give the stock away. In July 2026 he converted 8,000 Class A shares into 12 million Class B shares and donated 9 million of them to the Susan Thompson Buffett Foundation, with a further million each to the Sherwood and Howard G. Buffett foundations. That pattern of conversion and donation has run for years and steadily reduces his economic stake while leaving the Class A voting block largely intact.

Has anything actually changed?

Less than the headlines suggested, and more than nothing. Three things are worth separating.

The portfolio has barely moved. Berkshire's filing for the three months to June 2026 showed 29 holdings worth about $299bn, with only 6% of it changing hands. Every one of the top ten positions was left untouched. The portfolio grew 13.7% over the quarter on price appreciation, not on rotation.

The cash pile has started to move. This is the real change. Berkshire ended March 2026 with a record $397.4bn in cash. By the end of June it was $365.5bn — a fall of 8%, and the first meaningful decline since early 2022. Part of that was $4.53bn spent buying back its own shares.

The structure is staying. At his first annual meeting as chief executive in May 2026, Abel explicitly ruled out breaking up the conglomerate and stressed continuity. Buffett, speaking from the floor, said the board's decision had been "a hundred percent successful".

Why the succession question matters for valuation

Berkshire has historically traded at a premium to book value, and part of that premium was attributed to Buffett himself. The open question since the handover has been whether the premium survives the man. So far the evidence is mixed: Berkshire returned 10.9% in 2025 against the S&P 500's 16.4%, and lagged again through the first half of 2026 before recovering to an eight-month high in early August.

If you are valuing Berkshire, the honest way to handle this is to decide explicitly what you think the conglomerate is worth on its operating earnings and its investment portfolio, and then decide separately whether you are willing to pay anything on top for management. Bundling the two into a single vague premium is how people end up unable to explain their own number.

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Common questions

Is Warren Buffett still the CEO of Berkshire Hathaway?

No. He stepped down as chief executive on 31 December 2025 after sixty years. Greg Abel has been CEO since 1 January 2026. Buffett remains chairman of the board and is still Berkshire's largest shareholder.

Who runs Berkshire Hathaway now?

Greg Abel, who had run Berkshire's non-insurance operating businesses before the promotion. He now has final authority over capital allocation, which Buffett confirmed publicly before handing over.

Does Warren Buffett still own Berkshire Hathaway shares?

Yes. His most recent ownership filing shows 188,290 Class A shares and 1,162 Class B shares — roughly 38.2% of the Class A stock and 29.7% of the aggregate voting power. He continues to convert Class A shares into Class B and donate them to charitable foundations, which gradually reduces his economic stake.

Has Greg Abel changed the portfolio?

Very little so far. The filing for the three months to June 2026 showed all ten of the largest positions unchanged, with only 6% of the portfolio changing hands. The more notable change is on cash: the balance fell 8% to $365.5bn in the second quarter, including $4.53bn of buybacks — the first meaningful decline since early 2022.

Also see: Warren Buffett's investment strategy → · What stocks does Berkshire Hathaway own? → · Berkshire's cash pile explained →