Warren Buffett names Greg Abel his heir: 10 key facts about the next Berkshire boss

Warren Buffett will step down as Berkshire Hathaway CEO by end-2025 and has named Greg Abel his successor. Abel, a modest Canadian executive, brings decades of experience and will oversee one of the world’s biggest investment empires.

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Warren Buffett, known as the ‘Oracle of Omaha’ and one of the world's greatest investors, has confirmed that he will step down as CEO of Berkshire Hathaway by the end of 2025. His successor is Greg Abel, a 62-year-old Canadian who has worked closely with Buffett for years.

The announcement comes after long speculation. In fact, back in 2021, Charlie Munger, Buffett’s longtime business partner, accidentally revealed Abel as the chosen successor during Berkshire's annual meeting. Since then, shareholders have seen more of Abel through meetings and media events. While he keeps a low profile, Abel has quietly been preparing for the top job.

What happens next?

The Berkshire Hathaway board will vote to confirm Greg Abel as the new CEO. Buffett expects the board to fully support the decision. Once confirmed, Abel will take charge of the vast empire that Berkshire has built—covering railroads, energy companies, food brands like Dairy Queen and See’s Candies, and stock investments worth billions.

He will also lead a workforce of nearly 400,000 people around the world.

What makes Abel special?

The board of Berkshire Hathaway has spent years preparing for this transition. They say Abel has a deep understanding of how the company operates and strong leadership skills. Buffett himself once said the company was lucky to have him.

Still, following in Buffett’s footsteps is no easy task. The company has grown so large that making big investment moves has become more difficult. One of Abel’s main jobs will be to preserve what makes Berkshire unique—its decentralised structure. This means the many companies under Berkshire are trusted to run on their own, with little interference from the top.

Buffett and Munger have often said this structure is based on trust, honesty, and independence. “Greg will keep the culture,” Munger once remarked.

Who is Greg Abel? 10 simple facts

1. Born in Canada: Greg Abel was born on June 1, 1962, in Edmonton, Alberta.
2. Humble beginnings: He worked odd jobs like cleaning bottles and maintaining fire extinguishers while growing up.
3. Strong work ethic: Abel has said that hard work in school, sports, and jobs helped him succeed.
4. Former hockey player: Like many Canadians, Abel played ice hockey in his youth.
5. University graduate: He studied at the University of Alberta and graduated in 1984.
6. Early career: He worked for PricewaterhouseCoopers and CalEnergy before joining MidAmerican Energy in 1992.
7. Rise at Berkshire: Berkshire bought MidAmerican in 1999. Abel became CEO of that division in 2008.
8. Business leader: Today, he manages many non-insurance parts of Berkshire, including BNSF Railway and retail companies.
9. Lives in Iowa: Abel lives in Des Moines, not far from Buffett’s Omaha. He’s also a youth sports coach.
10. Quiet and steady: While not flashy, Abel is known for being thoughtful, smart, and focused—qualities Buffett values.

Abel is likely to stay in Iowa even after taking over as CEO. Buffett himself always kept things simple, working with a small team and focusing on reading and making smart decisions. Abel is expected to continue in that spirit—steady, humble, and committed to Berkshire’s unique way of doing business.