Who is Greg Abel, Warren Buffett's chosen heir at Berkshire Hathaway?

Greg Abel, a Canadian executive with deep roots in energy and a long tenure at Berkshire, is set to succeed Warren Buffett as CEO of the conglomerate in 2025

Legendary billionaire Warren Buffett’s long-anticipated succession plan is finally nearing its conclusion. During an annual shareholder meeting of Berkshire Hathaway on Saturday, Buffett, 94, announced that he would be stepping down at the end of 2025. Greg Abel, a reserved Canadian executive with deep roots in the energy sector, will take over the role, he said.

 

Abel, 62, has spent nearly two decades under Buffett’s tutelage. He served as vice chairman of Berkshire’s non-insurance operations since 2018, overseeing a diverse portfolio of companies spanning railroads, retail, manufacturing and utilities. His leadership has encompassed key Berkshire assets including BNSF Railway, Dairy Queen, and See’s Candies. Yet it is in the energy sector — where Abel made his name — that his influence has been most pronounced.

 

 

Who is Greg Abel?

 

A native of Edmonton, Alberta, Abel graduated with a commerce degree from the University of Alberta in 1984. A keen hockey player in his youth, he learned early lessons in diligence, filling fire extinguishers and redeeming bottles as a teenager. He began his professional career at PwC before joining CalEnergy, which in 1999 acquired MidAmerican Energy. That same year, Berkshire Hathaway bought a controlling interest in the firm. Abel rose through the ranks and became CEO in 2008. The company was later renamed Berkshire Hathaway Energy (BHE), with Abel at its helm until 2018.

 

Why Warren Buffett chose Greg Abel as his successor

 

Buffett has often praised BHE as one of Berkshire’s "jewels", and credited Abel’s operational acumen and steady leadership with the company’s continued success. In 2021, Buffett publicly named Abel his successor, shortly after the late Charlie Munger let slip the board’s preference at the company’s annual meeting. Buffett reaffirmed this decision at the 2024 meeting, telling shareholders, “The time has arrived where Greg should become the chief executive.”

 

Though Abel lacks Buffett’s celebrity profile, those who work with him describe a thoughtful, hands-on leader with a sharp strategic mind. “Is he another Warren Buffett? No. There is no other Warren Buffett,” longtime board member Ron Olson said, reported the Associated Press. “But Greg has the fundamentals — integrity, work ethic, and strategic thinking.”

 

“When I think about Greg, he not only has high business acumen, but he has really high business instincts,” Dairy Queen CEO Troy Bader said. “The intuition is really important. And, you know, Warren has that intuition, but Greg has a lot of it as well.” 

Also Read | 'US fiscal policy scares me': Buffett as he hands over Berkshire to Abel

 

Abel is also expected to uphold the core tenets of Berkshire’s philosophy: decentralised operations, conservative financial management, and long-term investing. According to a report in Barron, he has signalled continuity rather than revolution, telling shareholders that his first priority will be to preserve the company’s “fortress of a balance sheet".

 

Since joining the board in 2018, Abel has played a key role in Berkshire’s overseas investments, particularly in Japan, where the company has taken significant positions in five major trading houses. He recently told shareholders these holdings are expected to be kept "for decades".

 

A quiet, steady hand

 

Despite overseeing a vast empire of nearly 400,000 employees, Abel remains down-to-earth. He lives in Des Moines, Iowa, and has often been spotted at local hockey rinks, quietly watching his son practise. Friends and colleagues say this unassuming persona belies a deep understanding of complex business challenges — and a leadership style rooted in quiet consistency rather than showmanship.

 

With Buffett stepping aside, Abel now faces the daunting task of leading one of the world’s most admired conglomerates into a post-Buffett era. But as Buffett himself put it in his latest annual letter: “Greg shares the Berkshire creed… and understands that fooling shareholders is just the first step to fooling yourself.”  (With inputs from agencies)