Greg Abel is the successor to Warren Buffett at Berkshire Hathaway. Here is how he obtained there

Warren Buffett plans to hand over the reins of Berkshire Hathaway on the finish of 2025 to Greg Abel, who has been working for the legendary investor for greater than 20 years and has a protracted observe file as a enterprise operator in his personal proper.

Abel has been on Berkshire Hathaway’s board since 2018, and his present title is vice chairman of non-insurance operations. That position places Berkshire’s companies in areas like utilities, railroads and retail in his purview.

The utility and power trade is the place Abel, 62, minimize his tooth earlier than turning into Buffett’s right-hand man. He first joined Berkshire when Buffett’s agency struck a deal for a controlling stake in MidAmerican Vitality, the place Abel was an govt, in 1999. He later served because the CEO of that firm, which was renamed Berkshire Hathaway Vitality.

One key position for Abel lately has been his involvement with Berkshire’s rising place in 5 Japanese conglomerates. Abel stated throughout Saturday’s shareholder assembly that he expects Berkshire to carry on to these Japan investments for many years to return.

Abel has been referred to as Buffett’s inheritor obvious since 2021, when the late Charlie Munger revealed the choice at a shareholder assembly. The well-telegraphed transfer has given Abel time to win over shareholders and different key stakeholders at Berkshire.

“Greg is prepared. I’ve little doubt about that. We have identified if for a very long time,” longtime Berkshire board member Ron Olson instructed CNBC on Saturday.

Initially from Canada, Abel attended the College of Alberta and is lover of hockey. In his 2023 annual letter, Buffett stated that he and Abel lived just some blocks aside from one another in Omaha within the Nineteen Nineties however by no means met in individual throughout that interval.