Who is Greg Abel?
Who is Greg Abel?
Greg Abel is not a stranger at Berkshire, but he remains a low-profile figure to the general public. Born in Edmonton, Canada, in 1962, Abel began his career as an accountant before entering the energy sector. He joined MidAmerican Energy in 1992, a company Berkshire acquired in 2000. Since then, he has risen to become president of Berkshire Hathaway Energy and, since 2018, has overseen all non-insurance operations of the group.
Sober and effective executive profile
Buffett described Abel as "an extremely intelligent, pragmatic executive with total commitment to Berkshire's culture." Unlike other potential candidates, Abel has demonstrated great ability to lead quietly, make key decisions without seeking prominence, and maintain strong relationships with directors and operators of each unit.
Graduated from the University of Alberta with honors in commerce.
Caught Buffett's attention for his management in renewable energy and efficient operations.
Board member of Kraft Heinz and AEP.
Known for having an austere agenda and focusing on results.
Abel has been the designated successor since 2021, although it had never been official until now. With Buffett's public endorsement, doubts about the firm's future leadership are dispelled. "Greg understands Berkshire from top to bottom," said Buffett. "He knows what needs to be maintained and also when to adapt."
Challenges and opportunities
Among the challenges Abel will face is preserving the autonomy of subsidiaries, continuing the decentralised management approach, and resisting Wall Street pressures for quarterly results. He will also have to decide how to allocate hundreds of billions in cash without compromising the firm's fundamental principles.
While he doesn't have Buffett's public charisma, Abel has what matters: the board's trust, executives' loyalty, and the backing of the most legendary investor in history. Berkshire Hathaway's future is in his hands, and the global financial history watches closely.
During Berkshire Hathaway's annual shareholders meeting in Omaha, Warren Buffett announced his retirement as CEO at the end of 2025, after more than six decades leading one of the world's most successful conglomerates. The 94-year-old magnate named Greg Abel as his successor, which was met with confidence by investors and analysts.
Berkshire's strategy post-announcement
Berkshire's strategy post-announcement
With Buffett's imminent retirement, shareholders closely observed signals of Berkshire's future direction. And if anything is clear, it's that the company is not improvising. In the first quarter of 2025, Berkshire reached a record liquidity position of $347.771 billion, showcasing its defensive stance amid high market prices.
Caution and investment discipline
Buffett confirmed that Berkshire was a net seller of stocks for the tenth consecutive quarter, with divestments exceeding $20 billion. This reduction included parts of its position in Apple (though it remains the largest) and Bank of America. When asked if this indicated concern, Buffett responded: "No, I just don't see sensible opportunities at these prices."
The investment in Apple still amounts to $135 billion.
Buffett praised Tim Cook for prudent management and share buybacks.
They continue to prioritize businesses with predictable cash flow and low debt.
Stance on economy and politics
Regarding economic policy, Buffett openly criticized tariffs proposed by Donald Trump: 25% to Canada and Mexico, 10% to China. "Trade wars have no winners," he stated, evoking lessons from the Great Depression. He also expressed concern about inflation and growing public debt, though without catastrophic predictions.
On recent market volatility, Buffett was clear: "I don't see signs of a bear market, just temporary hysteria." Thus, he reaffirmed his approach of ignoring noise and focusing on the long term. That mindset has been the key to his success, and the investment community knows it.
Buffett's retirement and legacy
Buffett's retirement and legacy
On May 3, 2025, at an event that gathered over 30,000 shareholders in Omaha, Warren Buffett announced he would step down as CEO of Berkshire Hathaway at the end of the year. At 94 and with energy that belied his age, Buffett was direct: "It's time to pass the baton." The announcement, unexpected even for some company executives, marked the end of an era that redefined the concept of long-term investment and corporate management.
Since taking control of Berkshire Hathaway in the 1960s, Buffett transformed a struggling textile company into a business colossus with iconic holdings like Coca-Cola, American Express, and Apple. Berkshire's market value exceeds $900 billion, and its value investing approach has been replicated by generations of investors.
Continued commitment
Although stepping down as CEO, Buffett will remain connected to the company as chairman of the board and will not sell his shareholding, which represents about 31% of the company. This decision aims to send a clear message to the market: the transition will be orderly, and Berkshire's philosophy will remain alive.
He will continue to influence key strategic decisions from the board.
His fortune will remain dedicated to the Giving Pledge, supporting philanthropic causes.
He will maintain fluid communication with the new CEO, ensuring a gradual transfer.
Additionally, Buffett paid tribute to his lifelong partner, Charlie Munger, who passed away in 2023. He remembered him as "Berkshire's intellectual compass" and thanked him for his influence on fundamental investments like Apple and BYD. Attendees responded with a standing ovation, demonstrating their devotion to this legendary duo.
Long-term vision
In an era where investment decisions are made in milliseconds, Buffett defended his decentralized management style and patience to wait for real value. He also warned about speculative narratives around fads like artificial intelligence, reminding that "not everything exponential is sustainable." His philosophy—buying excellent businesses with good managers at reasonable prices—remains valid. And his legacy is not only financial but also cultural. In Buffett's words: "Berkshire is more than a portfolio: it's a system of values."
Last Update
6.5.25
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WARREN BUFFETT ANNOUNCES RETIREMENT IN 2025
During Berkshire Hathaway's annual shareholders meeting in Omaha, Warren Buffett announced his retirement as CEO at the end of 2025, after more than six decades leading one of the world's most successful conglomerates. The 94-year-old magnate named Greg Abel as his successor, which was met with confidence by investors and analysts. Buffett assured he will maintain his shares and role as chairman of the board, reaffirming his long-term commitment to the firm. This historic transition marks the beginning of a new era for Berkshire and the closing of a legendary chapter in American capitalism.