Who is Warren Buffett's successor at Berkshire Hathaway? 5 Things to know about Greg Abel
Warren Buffett has named Greg Abel as his successor at Berkshire Hathaway. Here's what to know about Abel's career, leadership style and what to expect from him as CEO
Warren Buffett may be stepping back, but the Berkshire Hathaway story is far from over. Enter Greg Abel, the low-key Canadian exec who's been running much of the empire behind the scenes—and who's now officially been named Buffett's successor. While he may not be a household name (yet), Abel has been steering key parts of the business for years. Who exactly is he—and what can we expect when he takes over for Buffett?
Here's a quick guide to the man about to inherit one of the biggest roles in global business.
Don't miss: House tour: Warren Buffett's former vacation home gets a beautiful modern renovation
Greg Abel's rise through the ranks has been steady and strategic. Born in Edmonton, Canada in 1962, Abel began his career at PricewaterhouseCoopers before joining CalEnergy in 1992, a small power producer that would later become MidAmerican Energy. After Berkshire Hathaway acquired a controlling interest in MidAmerican in 1999, Abel quickly moved into leadership roles. By 2008, he was CEO of MidAmerican.
In 2014 MidAmerican was rebranded as Berkshire Hathaway Energy (BHE), and under Abel's leadership, it became one of the conglomerate's most successful and sustainable assets. Four years later, Warren Buffett promoted Abel to Vice Chairman of Berkshire's non-insurance businesses—putting him in charge of operations across multiple major subsidiaries. By 2021, Buffett confirmed that Abel would be his successor as CEO, telling CNBC, 'The directors are in agreement that if something were to happen to me tonight, it would be Greg who'd take over tomorrow morning.'
Speaking at the 2025 Berkshire Hathaway annual shareholders meeting, Buffett joked, 'It's working way better with Greg Abel than with me, because I don't want to work as hard as he works.'
Others echo this sentiment. 'He's an absolute workaholic. He does more in every hour of every day than any person I've ever met,' said Dawn Farrell, CEO of TransAlta Corp, in an interview with Canadian newspaper Globe and Mail in 2019.
Abel's leadership is highly engaged. When asked how his management approach to subsidiaries would be, Abel simply replied that he would be 'more active.' Executives who have worked with Abel say that he closely scrutinises details and asks perceptive questions that help him understand the business. Speaking with Reuters after the announcement, Chris Kelly, chief executive of real estate brokerage firm HomeServices of America, said that Abel's questions 'ensure you are thinking through directives and plans as a company' and that 'you come away smarter from having a conversation with him.'
He built an energy empire within Berkshire
Much of Abel's success has stemmed from his tenure at Berkshire Hathaway Energy. Under his leadership, the company expanded significantly, serving over 11 million customers and generating approximately 10 percent of Berkshire's total earnings by 2015.
Indeed, Abel oversaw BHE's expansion through major deals—including a US$5.6 billion purchase of Nevada's NV Energy in 2013—and directed more than US$5 billion into wind farms across Iowa. The results are tangible: Berkshire's Iowa utility now generates 64 per cent of the state's wind-powered electricity, and Iowa is so proud of this achievement that its driver's licenses feature wind turbines—a fact Abel often highlights. Berkshire vice chairman Charlie Munger once predicted that Berkshire Hathaway Energy would become 'the biggest utilities business in the United States,' largely due to Abel's aggressive growth strategy and commitment to sustainability.
In case you missed it: What you need to know about sustainable energy investment
While energy is Abel's specialty, his role at Berkshire is far broader. As the vice-chair overseeing all non-insurance operations, he manages a diverse portfolio of businesses, from the BNSF Railway freight railroad to brands like Dairy Queen. This has given Abel experience in a wide range of industries and demonstrated his ability to scale Berkshire's unique management approach across dozens of companies. It's no coincidence that Berkshire moved to buy out the remaining minority stakes in BHE by 2024, bringing the unit fully under Berkshire's wing, a testament to the value Abel helped create there. Trusted by Buffett and Munger to 'keep the culture'
Warren Buffett and Charlie Munger have offered glowing endorsements of Abel over the years. In 2023, Buffett remarked that Berkshire is 'so damn lucky' to have Abel ready to take the helm. He further said that shareholders shouldn't worry about the future of the company, as he was confident that Abel do a great job and that Berkshire will still follow the same model of allowing its subsidiaries to largely run themselves.
Buffett has repeatedly praised Abel's abilities and integrity, even quipping in 2023, 'Greg will be more successful than I have been, and if I said otherwise, my nose would grow.' What to expect from the post-Warren Buffett Berkshire
Industry watchers expect a smooth transition, with continuity rather than disruption. Abel has been working closely with Buffett for years and has already assumed significant responsibilities, including oversight of capital allocation across many of Berkshire's subsidiaries.
He is not known as a stock picker, but he has gradually taken on more investment oversight. Buffett said last year he would also want Abel to have final say on decisions regarding Berkshire's portfolio of public stocks, marking a quiet but crucial shift in the company's financial governance.
Challenges remain: with nearly 400,000 employees, US$347.7 billion in cash reserves and a conglomerate that is worth about US$1.18 trillion, Abel will need to identify smart acquisitions and investment opportunities that align with Berkshire's ethos.
While no one expects him to replicate The Oracle of Omaha's legendary returns, most agree he is the right person to steer the conglomerate into its next chapter. Warren Buffett, now 94, will remain as chairman to guide the transition—but make no mistake: Greg Abel is now at the helm.
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Warren Buffett has named Greg Abel as his successor at Berkshire Hathaway. Here's what to know about Abel's career, leadership style and what to expect from him as CEO Warren Buffett may be stepping back, but the Berkshire Hathaway story is far from over. Enter Greg Abel, the low-key Canadian exec who's been running much of the empire behind the scenes—and who's now officially been named Buffett's successor. While he may not be a household name (yet), Abel has been steering key parts of the business for years. Who exactly is he—and what can we expect when he takes over for Buffett? Here's a quick guide to the man about to inherit one of the biggest roles in global business. Don't miss: House tour: Warren Buffett's former vacation home gets a beautiful modern renovation Greg Abel's rise through the ranks has been steady and strategic. Born in Edmonton, Canada in 1962, Abel began his career at PricewaterhouseCoopers before joining CalEnergy in 1992, a small power producer that would later become MidAmerican Energy. After Berkshire Hathaway acquired a controlling interest in MidAmerican in 1999, Abel quickly moved into leadership roles. By 2008, he was CEO of MidAmerican. In 2014 MidAmerican was rebranded as Berkshire Hathaway Energy (BHE), and under Abel's leadership, it became one of the conglomerate's most successful and sustainable assets. Four years later, Warren Buffett promoted Abel to Vice Chairman of Berkshire's non-insurance businesses—putting him in charge of operations across multiple major subsidiaries. By 2021, Buffett confirmed that Abel would be his successor as CEO, telling CNBC, 'The directors are in agreement that if something were to happen to me tonight, it would be Greg who'd take over tomorrow morning.' 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Speaking with Reuters after the announcement, Chris Kelly, chief executive of real estate brokerage firm HomeServices of America, said that Abel's questions 'ensure you are thinking through directives and plans as a company' and that 'you come away smarter from having a conversation with him.' He built an energy empire within Berkshire Much of Abel's success has stemmed from his tenure at Berkshire Hathaway Energy. Under his leadership, the company expanded significantly, serving over 11 million customers and generating approximately 10 percent of Berkshire's total earnings by 2015. Indeed, Abel oversaw BHE's expansion through major deals—including a US$5.6 billion purchase of Nevada's NV Energy in 2013—and directed more than US$5 billion into wind farms across Iowa. The results are tangible: Berkshire's Iowa utility now generates 64 per cent of the state's wind-powered electricity, and Iowa is so proud of this achievement that its driver's licenses feature wind turbines—a fact Abel often highlights. Berkshire vice chairman Charlie Munger once predicted that Berkshire Hathaway Energy would become 'the biggest utilities business in the United States,' largely due to Abel's aggressive growth strategy and commitment to sustainability. In case you missed it: What you need to know about sustainable energy investment While energy is Abel's specialty, his role at Berkshire is far broader. As the vice-chair overseeing all non-insurance operations, he manages a diverse portfolio of businesses, from the BNSF Railway freight railroad to brands like Dairy Queen. This has given Abel experience in a wide range of industries and demonstrated his ability to scale Berkshire's unique management approach across dozens of companies. It's no coincidence that Berkshire moved to buy out the remaining minority stakes in BHE by 2024, bringing the unit fully under Berkshire's wing, a testament to the value Abel helped create there. Trusted by Buffett and Munger to 'keep the culture' Warren Buffett and Charlie Munger have offered glowing endorsements of Abel over the years. In 2023, Buffett remarked that Berkshire is 'so damn lucky' to have Abel ready to take the helm. He further said that shareholders shouldn't worry about the future of the company, as he was confident that Abel do a great job and that Berkshire will still follow the same model of allowing its subsidiaries to largely run themselves. Buffett has repeatedly praised Abel's abilities and integrity, even quipping in 2023, 'Greg will be more successful than I have been, and if I said otherwise, my nose would grow.' What to expect from the post-Warren Buffett Berkshire Industry watchers expect a smooth transition, with continuity rather than disruption. Abel has been working closely with Buffett for years and has already assumed significant responsibilities, including oversight of capital allocation across many of Berkshire's subsidiaries. He is not known as a stock picker, but he has gradually taken on more investment oversight. Buffett said last year he would also want Abel to have final say on decisions regarding Berkshire's portfolio of public stocks, marking a quiet but crucial shift in the company's financial governance. Challenges remain: with nearly 400,000 employees, US$347.7 billion in cash reserves and a conglomerate that is worth about US$1.18 trillion, Abel will need to identify smart acquisitions and investment opportunities that align with Berkshire's ethos. While no one expects him to replicate The Oracle of Omaha's legendary returns, most agree he is the right person to steer the conglomerate into its next chapter. 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