Warren Buffett, 96, has stepped down as Chairman of Berkshire Hathaway (effective immediately) and transitioned to Chairman Emeritus, with his son Howard Buffett taking the board chair role. In a shareholder letter, Buffett expressed strong confidence in new CEO Greg Abel, who has already signaled a strategic pivot toward technology and AI—most notably a $10 billion investment in Alphabet Inc. This marks a significant generational and strategic shift for the conglomerate, moving it away from Buffett's traditional value-investing stance toward emerging tech sectors.