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57m ago

Warren Buffett Steps Down as Berkshire CEO Ahead of Greg Abel’s Jan. 1 Start

Investors are looking to Greg Abel’s approach to deploying Berkshire’s record cash reserve.

Berkshire Hathaway Chairman Warren Buffett attends the Berkshire Hathaway Inc annual shareholders' meeting in Omaha, Nebraska, U.S., May 3, 2024. REUTERS/Scott Morgan/ File Photo
FILE - Warren Buffett, chairman and CEO of Berkshire Hathaway, opens a bottle of Cherry Coke during a game of bridge outside Berkshire-owned Borsheims jewelry store in Omaha, Neb., Sunday, May 6, 2018. (AP Photo/Nati Harnik, File)
FILE - Warren Buffett, Chairman and CEO of Berkshire Hathaway, puts pen to paper during a game of bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb., Sunday, May 5, 2019. (AP Photo/Nati Harnik, File)
FILE - Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks to reporters before presiding over the annual shareholders meeting in Omaha, Neb., May 4, 2019. (AP Photo/Nati Harnik, File)

Overview

  • Buffett’s final day as chief executive is Dec. 31, and he remains chairman as Abel becomes CEO on Jan. 1, 2026.
  • Berkshire is handing the new CEO roughly $380 billion in cash and short‑term investments and about $270 billion in public equities.
  • Class A shares recently topped $750,000, placing Berkshire’s market value around $1.1 trillion after decades of outperformance under Buffett.
  • Abel, 63, has overseen non‑insurance operations since 2018 and is expected to preserve Berkshire’s decentralized culture.
  • Recent management moves include the departures of investment manager and Geico CEO Todd Combs and CFO Marc Hamburg, with NetJets CEO Adam Johnson tapped to lead consumer, service, and retail businesses.