Greg Abel Succeeds Warren Buffett as Berkshire Hathaway CEO
After an extraordinary 60-year tenure, legendary investor Warren Buffett officially stepped down as CEO of Berkshire Hathaway on January 1, 2026. This marked the end of one of the most successful leadership runs in corporate history. The 95-year-old “Oracle of Omaha” handed control to his longtime deputy and handpicked successor, Greg Abel, 63.
Buffett transformed Berkshire Hathaway from a struggling textile manufacturer into a diversified $1 trillion conglomerate. He delivered unparalleled returns to shareholders over six decades. Abel, who has served as vice chairman overseeing non-insurance operations since 2018, now takes charge of the company. The company is sitting on a record $381.6 billion in cash as of September 2025.
In a strong endorsement, Buffett told CNBC he would rather have Abel handle his money “than any of the top investment advisors or any of the top CEOs in the United States.” While Buffett steps back from day-to-day management, he will remain as chairman of the board and continue to provide strategic guidance.
Berkshire Hathaway shares fell approximately 1.4% on Abel’s first day as CEO on January 2, 2026. This reflects what analysts have termed a “succession discount.” The conglomerate ended 2025 with a gain of 10.9%, marking its 10th consecutive year of positive returns, though trailing the S&P 500’s 16.4% advance.
Source: CNBC