Warren Buffett, a near-mythic figure in the American investing world, is stepping down as chairman of the company he built, Berkshire Hathaway. Buffett will become chairman emeritus, effective immediately, the company announced on Sept. 18. His son, Howard Buffett, 71, replaces him as chairman. Warren Buffett is 96. That his departure from the day-to-day business world is big news speaks to his gravitas within it. Buffett is the 10th-wealthiest American and the nation's wealthiest nonagenarian, according to Forbes, with an estimated wealth of $144 billion. He's widely regarded as one of the shrewdest investors in Wall Street history.
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