Who Is Greg Abel, Berkshire Hathaway's Next CEO After Warren Buffett

Greg Abel will become the CEO of Berkshire Hathaway on January 1, succeeding Warren Buffett, who is stepping down after a 60-year career. The 63-year-old longtime lieutenant inherits world-class businesses, such as GEICO and BNSF Railway, and a record $382 billion cash reserve.

Who Is Greg Abel?

Gregory Edward Abel, born on June 1, 1962, in Edmonton, Alberta, is a Canadian businessman who will succeed Buffett as CEO of Berkshire Hathaway on January 1.

Abel grew up in a modest family, working odd jobs as a child and playing hockey and football. He earned a bachelor's degree in accounting from the University of Alberta in 1984 and is a certified public accountant.

He began his career at PricewaterhouseCoopers before joining CalEnergy in 1992. Following Berkshire's investment in MidAmerican Energy, Abel became CEO in 2008. The company was renamed Berkshire Hathaway Energy in 2014.

In January 2018, he was appointed vice chairman of Berkshire's non-insurance operations and joined the board of directors.

Abel has served on numerous boards, including Kraft Heinz, Edison Electric Institute, and Drake University. He is president of the Horatio Alger Association of Distinguished Americans and received its award in 2018.

He has three children from a previous marriage and a son with his wife, Andrea. The family lives in Iowa, where Abel remains active in youth sports.

In June 2022, Abel sold his 1 per cent stake in Berkshire Hathaway Energy for $870 million. Later that year, he purchased 168 Class A Berkshire shares worth roughly $68 million.