Hockey To Hathaway: How Greg Abel Quietly Became Warren Buffett’s Successor

Warren Buffett Successor Greg Abel: At the end of 2025, one of the biggest corporate world transitions will occur. Warren Buffett, the 94-year-old legendary investor who has led Berkshire Hathaway for 55 years, will step down. His successor? A quiet, steady hand named Greg Abel.

Born in Canada and a former hockey player, Abel may not be a household name, but he’s been preparing for this role for decades. “Greg is ready. I have no doubt about that,” longtime Berkshire board member Ron Olson said, as per a Business Insider report.

Who is Greg Abel?

Abel, now 62, has worked closely with Buffett since 1999, when Berkshire bought a controlling stake in MidAmerican Energy, where Abel was an executive. He later became CEO of what was renamed Berkshire Hathaway Energy and currently serves as vice chairman of Berkshire’s non-insurance operations.

He’s earned Buffett’s full confidence. "I think the time has arrived where Greg should become the chief executive of the company at year end," Buffett said at the 2025 shareholder meeting as reported by Business Insider.

Abel, who lives in Des Moines, Iowa, is often described as a regular guy who’s stayed close to his roots — sometimes spotted at local hockey rinks watching his son play.

Also Read: End Of An Era: Warren Buffett Plans To Step Down As Berkshire Hathaway CEO

But behind that low-key image is a serious operator with a deep understanding of Berkshire’s sprawling empire. Abel oversees a range of businesses, including railroads, utilities, and retail. He also played a key role in managing Berkshire’s long-term investments in five major Japanese conglomerates.

While Buffett has been known for his laid-back leadership style, Abel is seen as more hands-on. Still, he promises to stick to the core values that made Berkshire what it is today. "Greg shares the Berkshire creed," Buffett wrote in his 2024 letter to shareholders. “If you start fooling your shareholders, you will soon believe your own baloney and be fooling yourself as well.”

Challenges Ahead For Greg Abel

One of the challenges Abel will inherit is managing Berkshire’s enormous cash reserve, which reached nearly $348 billion in early 2025. Buffett pushed back on speculation that he was saving this cash for his successor. “I wouldn't do anything nearly so noble as to withhold investing myself just so Greg could look good,” he joked, drawing laughter from shareholders, Business Insider reported.

Still, Abel understands the importance of this financial strength. He recently told shareholders he would maintain Berkshire’s “fortress of a balance sheet,” which gives the company the flexibility to make big moves without borrowing money.

As Abel prepares to take the top job, he doesn’t just inherit a company — he inherits a philosophy. Buffett himself has said the CEO’s job at Berkshire is more than a title. It’s about preserving a mindset built on honesty, patience, and value.