Buffett hands reins to Greg Abel |
Warren Buffett will step down as CEO of Berkshire Hathaway at year-end, ending a legendary six-decade tenure that transformed the conglomerate into a global powerhouse. Greg Abel, vice chairman and current overseer of Berkshire’s non-insurance businesses, will assume the role—a move long anticipated but confirmed only during the 2025 annual meeting. While Buffett has actively groomed Abel, delegating major responsibilities and endorsing him publicly, there’s one thing he cannot pass on: his iconic reputation. “Warren’s so unique,” said Microsoft co-founder Bill Gates. Abel, a 62-year-old former accountant from Canada, will inherit a decentralized empire that spans railways, energy, retail, and more. Though he lacks Buffett’s investor mystique, Abel is seen as a capable operator. “He would make a huge mistake trying to be Warren Buffett, and he knows that,” said Fidelity’s Will Danoff. Abel’s more hands-on approach may contrast with Buffett’s famed light-touch style, signaling a new leadership era at Berkshire. |
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