Warren Buffett will remain with Berkshire Hathaway as chairman

In a surprise announcement on Saturday, Mr Buffett said he would step down from that top spot at the end of the year

Warren Buffett is a billionaire investor. File picture: AP

Billionaire Warren Buffett will remain with Berkshire Hathaway as chairman of the board when vice chairman Greg Abel takes over as chief executive in 2026.

The board of directors at the cash-rich conglomerate have voted to keep the famous 94-year-old investor as head of the board, a decision likely to relieve investors worried about Berkshire’s remarkable winning streak as the US and global economies are beset by tariff shocks, financial turmoil and a growing risk of recession.