Who is Gregory Abel, selected as potential heir to Warren Buffet's business empire?
Get the Scoop on Greg Abel, Berkshire Hathaway's Top Gun
Hear ye, hear ye! It's time to chat about Greg Abel, the low-key Canadian executive who's stepped out of Warren Buffett's shadow and is ready to claim the throne at Berkshire Hathaway. Abel's been Buffett's right-hand man for two decades, honing his skills amidst the conglomerate's vast array of businesses.
Abel ain't always been the man in charge—he grew up in Canada, skating on frozen ponds and chugging through school like the rest of us. But unlike most of us, he discovered the value of hard work early on, redeeming discarded bottles and filling fire extinguishers. Today, he's sitting pretty at the top of the food chain in the investment world.
For the past seven years, Abel's been running Berkshire's BNSF railroad and sweet treats like See's Candies and Dairy Queen. And he hasn't stopped there—he's overseen dozens of manufacturing and retail businesses Berkshire snatched up over the years. You could say the guy's got a knack for making things run.
Buffett himself sang Abel's praises, calling Berkshire "so damn lucky" to have him stepping in. But let's be real: replacing a legend like Buffett is no easy feat. The conglomerate's massive size has made it tough lately to land any deals that would change the bottom line. Still, no one expects Abel to match the accomplishments of old Warren. Instead, they want him to preserve the unique culture Buffett built, emphasizing independence, integrity, and trust.
Buffett already began tipping his hand in 2021 when Vice Chairman Charlie Munger let it slip that Abel would take over. Since then, Abel's been biding his time in Buffett's shadow. But now it's his turn to step up and take responsibility for Berkshire's eclectic assortment of businesses, gold mine of nearly 400,000 employees, and the massive stock portfolio.
Longtime Berkshire board member Ron Olson said Abel's ready for the challenge. "He has so many of the fundamentals of Warren," Olson shared. "He's high integrity. He's a hard worker. He's a strategic thinker."
Abel's not just a numbers guy—he's also got a keen intuition that served him well in the world of business. And don't worry, he won't forget his roots: Abel's expected to continue living in Des Moines, Iowa, where he leads Berkshire Hathaway Energy and coaches his kids' hockey and soccer teams. Some things are just too precious to give up.
Bonus Facts:
- Greg Abel was born in Edmonton, Alberta, and learned early on the value of hard work by redeeming discarded bottles and working for a small company filling fire extinguishers.
- Abel graduated with honors from the University of Alberta in 1984, beginning his career at PricewaterhouseCoopers.
- In 1999, Abel became president of CalEnergy. He joined Berkshire Hathaway in 2008 and has since risen through the ranks, serving as vice chairman of Berkshire's non-insurance operations since 2018.
- Abel is expected to continue living in Des Moines, Iowa, where he leads Berkshire Hathaway Energy, a key component of the conglomerate's operations.
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- Greg Abel, hailing from Edmonton, Alberta, was nurtured early on to value hard work, a characteristic he demonstrated through projects like redeeming discarded bottles and filling fire extinguishers.
- Having graduated with honors from the University of Alberta in 1984, Abel began his professional journey at PricewaterhouseCoopers, later joining CalEnergy as its president in 1999.
- Abel's standout career at Berkshire Hathaway started in 2008, where he steadily moved up the ranks to serve as vice chairman of Berkshire's non-insurance operations since 2018.
- As one of Berkshire Hathaway's key executives, Abel is slated to lead Berkshire Hathaway Energy, a crucial component of the conglomerate's operations, while continuing to reside in Des Moines, Iowa.
- The upcoming year, 2025, could mark a significant milestone for Abel, as he confirmed his readiness to take the reins at Berkshire Hathaway, opening the door for a new era in finance, business leadership, and the conglomerate's vast assortment of industries – from sports to Seattle-based businesses, and beyond.
