Who is Greg Abel, Warren Buffett's successor as CEO of Berkshire Hathaway? His assets are …

Greg Abel was born on June 1, 1962 in Edmonton, Alberta, Canada. It comes from a family of working class. As a little boy, he found small jobs such as cleaning used bottles and filling fire extinguishers.

Warren Buffett, one of the most famous business people in the world, said he would resign as CEO of Berkshire Hathaway by the end of this year. The 94-year-old has been leading the company since 1965. The news surprised many, especially since the announcement was made on the company's annual shareholders on Saturday (May 3). Buffett has always been strongly connected to the company, so the news was unexpected.

Buffett is often referred to as the “Oracle of Omaha”, named after his hometown in Nebraska, USA. Under his leadership, Berkshire Hathaway became a company of $ 1.18 trillion. It has many different companies such as railways and the battery company Duracell. The company has also made major investments in well-known companies such as Apple and Coca-Cola.

Now Buffett has announced that Greg Abel will take over as CEO by the end of the year. Abel is currently deputy chairman for non -insurance operations and also leads Berkshire Hathaway Energy. According to a BBC report, Abel, who was sitting on the stage right next to Buffett, was surprised when the news was shared.

Here is more about Greg Abel and why this leadership counts:

1. Simple and hardworking background

Greg Abel was born on June 1, 1962 in Edmonton, Alberta, Canada. It comes from a family of working class. As a little boy, he found small jobs such as cleaning used bottles and filling fire extinguishers. This information was shared by the Horatio Alger Association of Distinguished Americans, which received an award in 2018.

He studied at the University of Alberta. After the college, he worked in the advisory company PricewaterhouseCoopers and later joined an energy company called Calenergy. In 1992 he became part of Berkshire Hathaway Energy (which was referred to as Midamerican Energy at that time). The company later became completely owned by Berkshire Hathaway.

2. Slow and steady increase within the company

Over time, Greg Abel took over more responsibility. He took care of several companies in Berkshire Hathaway, including its chemical, industrial and retail departments. Last year he also helped some of the most important tasks of Buffett, especially with investment decisions.

Buffett said last year that he wanted Abel to make the final decisions about the public stocks in which the company should invest. People who work with Abel say that he is very focused, asks thoughtful questions and wants to understand how every company works.

For a long time there were rumors that Abel Buffett's successor could be. As early as 2015, Charles Munger, long -time business partner and deputy chairman of Berkshire, said that the future managers of the company were very capable of. He called both Greg Abel and Ajit Jain 'world class'. Munger died in 2023. At the moment he is also the deputy chairman at Berkshire Hathaway.

3 .. step in big shoes

After the news came out, many people shared friendly words and praised Warren Buffett for his long and successful career.

Jamie Dimon, the CEO of JPmorgan Chase, said:

“Warren Buffett shows what is best in the American business and the country itself. He has invested in companies and helped them grow with honesty, hope and simple meaning.”

Buffett's work has inspired people around the world over the decades. Now when Greg Abel is ready to run the company, he knows that he immerses him in the shoes of a real legend.

Apple CEO Tim Cook wrote on X:

“There has never been someone like Warren and countless people I have enclosed myself were inspired by his wisdom. It was one of the great privileges of my life to know him.”

Now Greg Abel is preparing to take over a massive company worth 1.18 trillion dollars. He will have the difficult task of stepping into the footsteps of a legendary business figure like Warren Buffett.