Buffett’s Heir Apparent: How Greg Abel Climbed to the Top of Berkshire Hathaway

preCharge News BUSINESS — Greg Abel, long considered Warren Buffett’s successor, will officially take the helm of Berkshire Hathaway at the close of 2025. While the moment was years in the making, the announcement still marks a defining transition for one of the most storied companies in global finance.

Abel, 62, has worked closely with Buffett for over two decades and currently serves as Vice Chairman overseeing Berkshire’s non-insurance operations. That portfolio includes industrial pillars like utilities, railroads, and retail — the backbone of the conglomerate’s sprawling empire.

From Edmonton to Omaha: The Operator Buffett Chose

A Deep Energy Background

Born in Edmonton, Alberta, Abel studied at the University of Alberta before entering the energy sector. His real ascent began when Buffett’s Berkshire acquired a controlling stake in MidAmerican Energy in 1999. At the time, Abel was an executive there.

He eventually rose to become CEO of MidAmerican, which later became Berkshire Hathaway Energy — a business that would prove central to Berkshire’s long-term value strategy and to Abel’s growing stature inside the company.

Long Before the Spotlight

In Buffett’s 2023 annual letter, the billionaire revealed a quiet irony: he and Abel lived just blocks apart in Omaha in the 1990s, but never crossed paths. That anecdote reflects the low-profile, work-first attitude that has defined Abel’s rise.

Guiding the Future: Japan and Beyond

HSteady Global Strategy

Abel has already taken the reins on a number of high-level decisions, including Berkshire’s multibillion-dollar investments in five major Japanese trading houses. During Saturday’s shareholder meeting, he indicated the company plans to hold those positions “for decades to come,” signaling continuity in long-term global strategy.

His comments drew nods from shareholders and directors alike, many of whom see in Abel a continuation — not a departure — from Buffett’s legacy of patience and discipline.

Succession Revealed with Confidence

Endorsed by the Board and Munger Before His Passing

In 2021, the late Charlie Munger publicly identified Abel as Buffett’s successor during a shareholder meeting, ending years of speculation. That decision gave Abel crucial time to solidify his reputation with shareholders and executives across the company.

“Greg is ready. I have no doubt about that. We’ve known it for a long time,” said Ron Olson, a long-time Berkshire board member, in a post-meeting interview with preCharge News.

Not Just a Successor — A Builder

What makes Abel’s appointment resonate beyond the succession headlines is his operator’s mindset. Unlike Buffett’s investing-heavy approach, Abel’s strength lies in managing and scaling real-world businesses. This balance is seen as crucial as Berkshire continues to expand in both traditional and emerging sectors.

A Hockey Fan at Heart

Despite his corporate clout, Abel remains known among close colleagues for his down-to-earth demeanor. A fan of hockey and a product of the Canadian plains, he has brought a work ethic shaped far from Wall Street. That culture fit, according to many insiders, was never in question.

The Road Ahead

As 2025 approaches, Abel steps into one of the most scrutinized CEO roles in global business. But his calm presence, decades of results, and Buffett’s vocal support have many convinced Berkshire’s future is in steady hands.