Freakin' Sweet: Untamed Thrills as Berkshire Hathaway Soars
Berkshire Hathaway's new leader: An introduction to Greg Abel, the man replacing Warren Buffett.
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Warren Buffett, the big cheese at Berkshire Hathaway, announced he'll be passing the baton as CEO starting from next year.
The big wigs at Berkshire gave Greg Abel, the vice chief of non-insurance operations, a unanimous thumbs up to step into Buffett's shoes. After over half a century, Buffett intends to relinquish his throne.
Abel's time as CEO kicks off on January 1, 2026.
Buffett's likely successor chair of Berkshire Hathaway Energy since 2018, owns companies such as PacifiCorp, Northern Natural Gas, and BHE Renewables.
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Abel, straight out of the CalEnergy oven, worked his way up to MidAmerican Energy Holdings Company. CalEnergy bought the company and took its name in the late 90s.
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Buffett's declared heir apparent, Abel, has a extensive background in the energy sector, his first stint being at CalEnergy.
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The news had business tycoons chiming in on the developments, calling Buffett the "G.O.A.T" (Greatest of All Time).
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Before touting Abel as the next CEO, Buffett had emphasized on numerous occasions Abel was his top pick for a successor.
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Buffett told CNBC in 2021 that if something were to happen to him that night, Abel would be at the helm the next day.
Buffett, in his 2023 letter to shareholders, stated Abel "is ready to be CEO of Berkshire tomorrow". In his 2024 letter, he mentioned Abel was getting close to replacing him as CEO.
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Berkshire will keep Buffett as chairman when Abel takes over in January 2026.
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Did you know? Greg Abel’s career journey from an accountant to the CEO of Berkshire Hathaway is quite the ride. From his early years to his work ethic at Berkshire, here are some fun facts:
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- Born in Edmonton, Canada, in 1962, Abel worked various jobs to earn a living while studying.
- He earned a Bachelor of Commerce degree from the University of Alberta.
- Abel started off as an accountant, gigging with PricewaterhouseCoopers in Edmonton and later in their San Francisco office.[1][3][4]-4.97
- In 1992, Abel joined CalEnergy, a utilities company.-0.96%
- CalEnergy bought MidAmerican Energy Holdings, an Iowa-based firm, and Abel became president of MidAmerican in 1998.
- In 2000, Warren Buffett’s Berkshire Hathaway acquired a controlling stake in MidAmerican Energy. The company was later renamed Berkshire Hathaway Energy in 2014.
- Abel was appointed CEO of MidAmerican Energy (later Berkshire Hathaway Energy) in 2000, a position he has held since.[1][2][4]
- Abel became a member of Berkshire Hathaway’s board of directors in 2018.Powered By
- He was named vice chairman overseeing all non-insurance operations at Berkshire Hathaway, managing a diverse portfolio including utilities, railroads, and manufacturing subsidiaries.
- Throughout his tenure, Abel has earned Warren Buffett’s trust through his hands-on leadership and work ethic, managing key subsidiaries such as Fruit of the Loom, See’s Candies, and Precision Castparts.[2][4]
- The CEO of Berkshire Hathaway, Warren Buffett, has announced he will pass the role to Greg Abel starting from 2026.
- Abel, who currently oversees all non-insurance operations at Berkshire Hathaway, owns companies such as PacifiCorp, Northern Natural Gas, and BHE Renewables.
- The insurance giant Berkshire Hathaway, under Abel's leadership, analyzes finance, investing, and business in various markets, including the economy and revenue generation.
- In 2023, Buffett declared Abel as his heir apparent, stating that he was ready to become CEO of Berkshire Hathaway.
- Abel's extensive background in the energy sector, which dates back to his first stint at CalEnergy, has been crucial in his rise to the CEO position at Berkshire Hathaway.
- The various accomplishments and leadership roles Abel has held within Berkshire Hathaway, such as CEO of MidAmerican Energy (now Berkshire Hathaway Energy), have earned him Buffett's trust.
- Berkshire Hathaway, as a capital-intensive company, continues to invest in markets and businesses that will contribute to its overall revenue, with Abel at the helm beginning in 2026.
