For six years in the 1990s, Greg Abel lived just a few blocks away from Warren Buffett in Omaha, Nebraska. Despite this close proximity, the two men—who would eventually be known as the outgoing and incoming leaders of Berkshire Hathaway—never met during that time. It’s a curious fact, given the massive responsibilities Abel now assumes. The man who spent years in near-anonymity just down the street from one of the world’s most famous investors is now stepping into the spotlight as Buffett’s handpicked successor.
Warren Buffett, the iconic investor often dubbed the "Oracle of Omaha," announced last week during Berkshire Hathaway's annual shareholder meeting that he will step down as chief executive officer by the end of this year. After decades of legendary performance and economic insight, Buffett, 94, formally endorsed Greg Abel to take the helm of the conglomerate—a recommendation expected to receive unanimous approval from the board.
Warren Buffett last year had said: "Greg Abel, who runs all non-insurance operations for Berkshire – and in all respects is ready to be CEO of Berkshire tomorrow – was born and raised in Canada (he still plays hockey). In the 1990s, however, Greg lived for six years in Omaha just a few blocks away from me. During that period, I never met him."
The announcement, while not entirely unexpected, marks a historic moment in the business world. Buffett's departure signals the end of an era, one defined by his singular investment philosophy, steady leadership, and unmatched ability to turn Berkshire from a modest textile firm into a trillion-dollar titan spanning railroads, insurance, energy, and candy.
But the real headline of the day is this: the man taking over was once Buffett’s unknown neighbor—living just blocks away in Omaha, entirely off the radar.
A Low-Profile Life in Buffett's Backyard
Greg Abel was born and raised in Canada. He played hockey, collected and redeemed used bottles for change, and worked odd jobs like filling fire extinguishers. It was a classic story of humble beginnings—one that eventually led him to the highest ranks of global business. But during the 1990s, when Abel was climbing the corporate ladder and quietly living in Omaha, Buffett, already a Wall Street legend, had no idea that the man who would one day lead his empire lived just around the corner.
Abel’s six years in Omaha went without any fanfare or meetings with Buffett. It wasn't until decades later that their paths would formally align through Berkshire Hathaway. Abel joined Berkshire in 1992, starting in its energy division, and steadily worked his way up, eventually becoming vice chairman of non-insurance operations in 2018.
By 2021, Abel was hinted as Buffett’s successor. Since then, it’s been clear that Abel was the chosen one, but Saturday’s announcement cemented the timeline. By year’s end, Abel will become CEO of one of the most influential companies in corporate America.
Who Is Greg Abel?
While Buffett has long been a household name, Abel has maintained a much lower profile. Instead, he’s been described by colleagues as thoughtful, analytical, and deeply committed to understanding every nuance of the businesses under his oversight.
Since taking over Berkshire Hathaway Energy in 2011, Abel has built a reputation for being detail-oriented and having a firm grasp on operational strategy. He oversees a sprawling portfolio that includes BNSF Railway, See’s Candies, Dairy Queen, and dozens of other businesses. Collectively, these companies employ nearly 400,000 people.
Abel, now 62, continues to live in Des Moines, Iowa, just two hours from Omaha. He has no intention of relocating to Berkshire’s minimalist headquarters. In line with Buffett’s famously decentralized structure, Abel will remain where he is, managing the company from afar—a style of leadership that values trust and autonomy over centralization. Abel steps into enormous shoes. Buffett’s legacy at Berkshire Hathaway is nothing short of historic. He built the firm into a conglomerate worth over $1 trillion, backed by $300 billion in liquid assets. (With Agency Inputs)
Warren Buffett, the iconic investor often dubbed the "Oracle of Omaha," announced last week during Berkshire Hathaway's annual shareholder meeting that he will step down as chief executive officer by the end of this year. After decades of legendary performance and economic insight, Buffett, 94, formally endorsed Greg Abel to take the helm of the conglomerate—a recommendation expected to receive unanimous approval from the board.
Warren Buffett last year had said: "Greg Abel, who runs all non-insurance operations for Berkshire – and in all respects is ready to be CEO of Berkshire tomorrow – was born and raised in Canada (he still plays hockey). In the 1990s, however, Greg lived for six years in Omaha just a few blocks away from me. During that period, I never met him."
The announcement, while not entirely unexpected, marks a historic moment in the business world. Buffett's departure signals the end of an era, one defined by his singular investment philosophy, steady leadership, and unmatched ability to turn Berkshire from a modest textile firm into a trillion-dollar titan spanning railroads, insurance, energy, and candy.
But the real headline of the day is this: the man taking over was once Buffett’s unknown neighbor—living just blocks away in Omaha, entirely off the radar.
A Low-Profile Life in Buffett's Backyard
Greg Abel was born and raised in Canada. He played hockey, collected and redeemed used bottles for change, and worked odd jobs like filling fire extinguishers. It was a classic story of humble beginnings—one that eventually led him to the highest ranks of global business. But during the 1990s, when Abel was climbing the corporate ladder and quietly living in Omaha, Buffett, already a Wall Street legend, had no idea that the man who would one day lead his empire lived just around the corner.
Abel’s six years in Omaha went without any fanfare or meetings with Buffett. It wasn't until decades later that their paths would formally align through Berkshire Hathaway. Abel joined Berkshire in 1992, starting in its energy division, and steadily worked his way up, eventually becoming vice chairman of non-insurance operations in 2018.
By 2021, Abel was hinted as Buffett’s successor. Since then, it’s been clear that Abel was the chosen one, but Saturday’s announcement cemented the timeline. By year’s end, Abel will become CEO of one of the most influential companies in corporate America.
Who Is Greg Abel?
While Buffett has long been a household name, Abel has maintained a much lower profile. Instead, he’s been described by colleagues as thoughtful, analytical, and deeply committed to understanding every nuance of the businesses under his oversight.
Since taking over Berkshire Hathaway Energy in 2011, Abel has built a reputation for being detail-oriented and having a firm grasp on operational strategy. He oversees a sprawling portfolio that includes BNSF Railway, See’s Candies, Dairy Queen, and dozens of other businesses. Collectively, these companies employ nearly 400,000 people.
Abel, now 62, continues to live in Des Moines, Iowa, just two hours from Omaha. He has no intention of relocating to Berkshire’s minimalist headquarters. In line with Buffett’s famously decentralized structure, Abel will remain where he is, managing the company from afar—a style of leadership that values trust and autonomy over centralization. Abel steps into enormous shoes. Buffett’s legacy at Berkshire Hathaway is nothing short of historic. He built the firm into a conglomerate worth over $1 trillion, backed by $300 billion in liquid assets. (With Agency Inputs)
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