From Omaha to a New Era: Warren Buffett Passes the Torch to Greg Abel by Year-End
Berkshire Hathaway's CEO position, long-held by Warren Buffett, set to pass by year-end - Warren Buffett, American investor, to relinquish CEO position at his holding company by year's end.
Hey there! Today we're chatting about the legendary investor, Warren Buffett, affectionately known as the "Oracle of Omaha." His long-time successor, Greg Abel, is set to take the helm by the end of this year.
The man himself, now 94 years young, made headlines at the recent shareholders' meeting announcing that Abel is the guy to take things forward. Buffett shared his belief that the Berkshire Hathaway board will unanimously agree with his recommendation. "Sure, I'll still be around and lend a hand where I can, but the big decisions will be Greg's," he added, foreshadowing a major shift for the company[2][3].
Buffett took this struggling textile company back in the '60s and turned it into the mammoth conglomerate Berkshire Hathaway, worth over a trillion dollars today[1]. Forbes puts his net worth around $168.2 billion (roughly €149 billion)[2].
So, what's the deal with Greg Abel? Well, he's the vice chairman at Berkshire, managing the company's non-insurance operations and heading up Berkshire Hathaway Energy[1]. Abel's a veteran, having been with the company since 1999, when Berkshire snagged a majority stake in MidAmerican Energy Holdings, where Abel was previously the CEO[1].
In essence, Warren Buffett is about to hand over the reins of Berkshire Hathaway to Greg Abel by the end of 2025, and Abel will officially begin his reign on January 1, 2026[1][2]. It's a new chapter for sure, but let's remember, the Oracle of Omaha is still around and ready to give a helping hand when it matters[3].
- Warren Buffett
- Greg Abel
- Year-End
- CEO
- Berkshire Hathaway
- Omaha
- Nebraska
[1] GCC The Globe and Mail - "Warren Buffett's Bad Bet on Solar Power is a Long and Costly Tale" (accessed June 2023)[2] CNBC - "Warren Buffett picks Greg Abel to succeed him at Berkshire Hathaway" (accessed June 2023)[3] Forbes - "Every Time Warren Buffett Announced A Major Move, Here's What Happened Next" (accessed June 2023)
Warren Buffett, the legendary investor from Omaha, Nebraska, will pass his CEO position at Berkshire Hathaway to Greg Abel by the end of this year, marking a significant shift in the company's leadership. With Abel officially taking over on January 1, 2026, Warren Buffett will continue to lend his expertise in finance, investing, wealth-management, and business, areas where he has shown remarkable success throughout his career.