Warren Buffett steps down as chairman of Berkshire Hathaway: ‘Father Time always wins’

Watch on YouTube ↗  |  September 18, 2026 at 10:44  |  11:22  |  CNBC
Speakers
Becky Quick — Co-Anchor, Squawk Box
Greg Abel — CEO, Berkshire Hathaway
Joe Kernen — Co-Anchor, Squawk Box

Summary

CNBC's Becky Quick reports that Warren Buffett is stepping down as Berkshire Hathaway chairman effective immediately, with Howard G. Buffett becoming chairman and Greg Abel continuing as CEO. The segment reviews Buffett's letter, Abel's recent dealmaking, and Berkshire's underperformance versus the S&P. Hosts discuss succession lessons and Berkshire's large cash position, noting it tends to outperform in market turmoil.

  • Warren Buffett transitions to chairman emeritus; Howard G. Buffett becomes chairman.
  • Greg Abel remains CEO and has led recent deals including Taylor Morrison, OxyChem, Tokyo Marine, and an Alphabet private placement.
  • Berkshire stock has lagged the S&P since Abel took over, up 1% versus the S&P's 11% gain.
  • Berkshire holds over $300 billion in cash and waits for fat pitches, which may explain recent underperformance.
  • Hosts note Berkshire historically outperforms during market turmoil.
  • Discussion touches on concentrated bets, Apple, Tesla/SpaceX, and succession lessons from other companies.
Ideas
Greg Abel CEO, Berkshire Hathaway 3:55
Berkshire invested $10B in Alphabet at discount.
Berkshire saw a significant opportunity to increase its investment in Google/Alphabet via a $10 billion block at a 6.5% discount, and was comfortable with the terms, ultimately consummating the transaction.
GOOG MED
Becky Quick Co-Anchor, Squawk Box 9:01
Berkshire defensive, cash-rich, outperforms in turmoil.
Berkshire's stock has underperformed the S&P since Greg Abel became CEO because it avoids big swings and waits for fat pitches, but with over $300 billion in cash it tends to outperform in times of market turmoil, and it remains a go-to firm for large private placements like the $10 billion Alphabet deal.
BRK.B MED
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This CNBC video, published September 18, 2026, features Greg Abel, Becky Quick discussing GOOG, BRK.B. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Greg Abel, Becky Quick  · Tickers: GOOG, BRK.B