Warren Buffett bought Berkshire Hathaway in 1965 - Paul Morigi/Getty Warren Buffett is to step down from Berkshire Hathaway, ending one of the most storied careers in investment history. The 96-year-old, nicknamed the Oracle of Omaha for his market-beating returns, will take on the honorary title of chairman emeritus at the company he bought in 1965. Mr Buffett quit as chief executive of Berkshire Hathaway earlier this year, making way for Greg Abel, the company's vice chairman. He announced on Friday that he will also step down as chairman and will be succeeded by his son Howard, who has spent 33 years as a director in the business.
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