Warren Buffett retires (at 95): who is the successor to the most famous financier in history

Warren Buffett said it and he did it: he retired on December 31, 2025. The Oracle of Omaha (here is his complete story), as he was nicknamed for his ability to predict which companies to invest in and for the name of his hometown in Nebraska, he left the leadership of his Berkshire Hathaway, a textile company taken over in 1965 and transformed into a formidable money machine, which he led to becoming a giant worth over 1,000 billion.

Announcement of successor Greg Abel

But who is his successor? Buffett officially announced this last May during the company’s annual meeting in Omaha. From January 1, 2026, the new CEO of Berkshire Hathaway is Greg Abel. The succession was confirmed in a message to shareholders on November 10 in which Buffett wrote that he will no longer prepare Berkshire’s annual report or speak extensively at the annual meeting and that Abel “will become the boss at the end of the year.”

The most difficult challenge

Reuters called it one of the toughest challenges in corporate history. Because not only does Berkshire Hathaway have 41 stakes in listed companies in its stock portfolio – including Apple, American Express, Bank of America, Coca-Cola and Chevron – but it owns or controls wholly or in majority dozens of other companies in different sectors. And taking the place of the man who not only led it for 60 years, but who is its founding father, symbol of the financial company itself, is not an easy task. So who takes this responsibility?

The Canadian manager

Greg Abel is a 63 year old Canadian manager who already holds a very high position in Berkshire Hathaway: he is vice president for non-insurance operations and president of the energy sector. Furthermore – as stated on the company website – he boasts a series of roles outside the financial company: is president of the Horatio Alger Association of Distinguished Americans and sits on several boards of directors, from Kraft Heinz Company to Aegis Insurance Services and Aegis London; from Drake University to the American Football Coaches Foundation. Previously, he also served as a director and vice president of Associated Electric & Gas Insurance Services.

Career

He arrived at Berkshire Hathaway in 2014 and four years later joined the board of directors. A 1984 graduate of the University of Alberta in Canada with a degree in accounting, Abel began his career as a chartered accountant in the San Francisco office of PricewaterhouseCoopers. In 1992 he joined CalEnergy, an electricity producer, and then became CEO of the electricity group MidAmerican Energy in 2008. The annual compensation amounts to $20 million per year. According to Reuters, he won over Buffett thanks to his commitment to company culture, his long-term vision and his ability to spend money wisely.

January 1, 2026

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