Warren Buffett has officially confirmed that Greg Abel will take over as CEO of Berkshire Hathaway at the end of the year after buffet steps down. Read here to know more
Greg Abel born in Edmonton, Canada in 1962, set to take over as CEO of Berkshire Hathaway at the end of the year 2025. Known for his low profile and sharp business instincts, he has long been seen as Buffett’s natural successor.
Greg began as a chartered accountant at PwC before moving to CalEnergy in 1992. His steady rise in the energy sector laid the foundation for his future role within the Berkshire empire.
Greg joined CalEnergy in 1992. After it acquired MidAmerican Energy, he rose through the ranks and became CEO in 2008. In 2014, the company was renamed Berkshire Hathaway Energy, where Abel led major operations across utilities and energy infrastructure.
In 2018, Abel was named Vice Chairman for non-insurance businesses at Berkshire Hathaway, giving him oversight over a wide range of companies and preparing him for Buffett’s eventual transition.
Buffett officially announced in 2021 that Greg Abel would succeed him as CEO. Charlie Munger, Berkshire’s vice-chairman, also expressed confidence in Abel’s leadership, citing his understanding of the Berkshire culture.
In 2022, Abel spent around $68 million to buy Class A shares of Berkshire Hathaway. This major investment shows his personal stake and belief in the long-term strength of the company as reported by Bloomberg.
Warren Buffett turned Berkshire Hathaway into a $1.2 trillion company. As he steps down, Greg Abel faces the task of maintaining investor confidence and leading the company through a changing business environment.
