Current Greg Abel Net Worth 2024: The Heir To Warren Buffett’s Empire

Current Greg Abel Net Worth 2024: The Heir To Warren Buffett’s Empire

Greg Abel, the man poised to succeed Warren Buffett as the CEO of Berkshire Hathaway, has a remarkable story of rising from humble beginnings to becoming one of the most influential business leaders in the world.

Greg Abel: From Humble Beginnings to Berkshire Hathaway’s Heir Apparent

Born and raised in Edmonton, Canada, Greg Abel grew up in a modest family, learning the value of hard work and determination at a young age. He earned a commerce degree from the University of Alberta in 1984 and began his career as an accountant at PwC.

In 1992, he joined a small electricity company called CalEnergy, where he quickly rose through the ranks. His path to Berkshire Hathaway began in 2000 when the conglomerate acquired CalEnergy, later renamed Berkshire Hathaway Energy. [1] [2] [3] 

Greg Abel’s Estimated Net Worth in 2024 is Approximately $484 million.

Here are the key details:

  • Greg Abel owns a 1% stake in Berkshire Hathaway Energy (BHE), a subsidiary of Berkshire Hathaway [4] [5]. BHE was valued at $53.4 billion in March 2020, making Abel’s 1% stake worth around $480 million [6].
  • In addition to his BHE stake, Abel owns just 5 Berkshire Hathaway Class A shares worth around $3 million and 2,363 Class B shares worth around $700,000 held as a custodian. [7] [8]
  • In September 2022, Abel purchased 168 Class A Berkshire shares for around $68 million. [9] In March 2023, he bought another 55 Class A shares for $25 million, increasing his Berkshire stake to 228 Class A shares worth $136.8 million. [10]
  • However, Abel’s Berkshire stock holdings still represent a relatively small portion of his estimated net worth compared to Warren Buffett’s $132 billion net worth held almost entirely in Berkshire shares. [11] [12]
  • Abel received over $870 million before taxes from selling his BHE stake back to Berkshire in 2022. [13] He has also earned over $19 million in annual cash compensation from Berkshire in recent years, including a base salary of $16 million and a $3 million bonus. [14] [15]

While Greg Abel’s net worth of around $484 million is substantial, the majority comes from his previous stake in BHE rather than Berkshire shares, unlike Warren Buffett, whose wealth is concentrated in the company. [16] [17] [18] [19]

The Rise of Greg Abel: Key Milestones in His Career

Throughout his tenure at Berkshire Hathaway Energy, Greg Abel demonstrated exceptional leadership skills and a keen eye for business opportunities. He oversaw significant acquisitions such as PacifiCorp and NV Energy as the company’s CEO from 2008 to 2018.

These deals expanded Berkshire Hathaway’s energy portfolio and showcased Abel’s ability to identify and capitalize on promising investments. In 2018, Abel’s contributions were recognized when he was appointed Vice-Chair of Non-Insurance Business Operations at Berkshire Hathaway and elevated to the company’s board alongside Ajit Jain.

Greg Abel’s Leadership Style and Notable Accomplishments

One of Greg Abel’s most notable qualities is his reputation as a skilled dealmaker. He has a proven track record of successfully negotiating and executing significant acquisitions that have significantly contributed to Berkshire Hathaway’s growth.

Beyond his dealmaking prowess, Abel is known for his low-key leadership style and ability to foster growth within Berkshire’s subsidiaries. For example, under his guidance, a small real estate brokerage that came with purchasing another company has flourished into one of Berkshire’s most successful holdings.

Abel’s leadership and accomplishments have earned him high praise from Warren Buffett and Charlie Munger, who have described him as a “proven performer” and a “world-leading” business executive.

The Future of Berkshire Hathaway Under Greg Abel’s Leadership

In May 2021, Warren Buffett confirmed that Greg Abel would be his successor as the CEO of Berkshire Hathaway. As Abel prepares to take the helm, he faces several challenges, including the need to effectively deploy Berkshire’s substantial cash holdings and navigate the evolving expectations of shareholders.

Some activists push for changes, such as reducing the company’s carbon footprint and promoting diversity. Despite these challenges, Berkshire Hathaway’s board remains confident in Abel’s ability to lead the company into the future while maintaining its core principles and values.

Challenges and Opportunities for Greg Abel as Warren Buffett’s Successor

As Greg Abel steps into the CEO role, he must address the abovementioned challenges while seizing opportunities to grow further and strengthen Berkshire Hathaway. One potential hurdle is the pressure to pay dividends, especially if the company struggles to find suitable investments for its enormous cash reserves.

However, Abel’s age (59) and his deep understanding of Berkshire’s operations position him well to provide long-term stability and navigate these challenges effectively. His leadership also presents opportunities to continue Berkshire’s successful acquisition strategy and maintain the company’s strong financial position.

How Greg Abel’s Appointment Reflects Berkshire Hathaway’s Long-Term Strategy

The selection of Greg Abel as Warren Buffett’s successor demonstrates Berkshire Hathaway’s commitment to continuity, stability, and its guiding principles. Abel’s extensive experience managing diverse subsidiaries aligns perfectly with Berkshire’s decentralized structure, which empowers individual businesses to operate autonomously while benefiting from the parent company’s resources and guidance.

By choosing Abel, Berkshire Hathaway’s board has signaled its confidence in its ability to uphold the company’s core values and steer it through the challenges and opportunities that lie ahead.

The Confidence of Berkshire Hathaway’s Board in Greg Abel

Berkshire Hathaway’s board has consistently believed in Greg Abel’s leadership capabilities. Board member Ron Olson has praised Abel’s understanding of Berkshire’s fundamental principles and his commitment to running the company conservatively to protect its financial strength.

Olson also commended Abel’s strategic thinking, decisiveness, and analytical skills, which impressed the board and reinforced their belief that he was the ideal candidate to succeed Warren Buffett.

Greg Abel’s Potential Impact on Berkshire Hathaway’s Acquisition Strategy

As a seasoned dealmaker, Greg Abel is well-positioned to lead Berkshire Hathaway’s acquisition strategy in the future. His experience identifying and executing successful acquisitions bodes well for the company’s future growth prospects.

Although the recent legal battle with the Haslam family over the Pilot truck stop chain acquisition may raise concerns about potential challenges in future deals, Abel’s track record and Berkshire’s strong cash position suggest that he will continue to pursue value-creating opportunities that align with the company’s long-term objectives.

Comparing Greg Abel and Warren Buffett: Similarities and Differences in Their Approach

While Greg Abel and Warren Buffett share many similarities in their leadership philosophies, such as a focus on long-term value creation and a decentralized management style, there are also notable differences between the two leaders.

Abel maintains a lower public profile than Buffett and will face unique challenges as he steps into the CEO role during a time of evolving shareholder expectations and market conditions. Additionally, Abel’s responsibilities may be shared among other key figures within Berkshire Hathaway, such as Vice Chairman Ajit Jain, Howard Buffett (Warren’s son), and investment managers Todd Combs and Ted Weschler.

This collaborative approach highlights the strength and depth of Berkshire Hathaway’s leadership team as the company prepares for a new era under Greg Abel’s guidance.


As Greg Abel assumes the mantle of leadership at Berkshire Hathaway, his remarkable journey from humble beginnings to one of the most influential positions in the business world inspires potential leaders everywhere for what’s possible.

With his proven track record, strategic vision, and the unwavering support of Berkshire Hathaway’s board, Abel is well-equipped to navigate the challenges and opportunities that lie ahead while honoring the legacy of Warren Buffett and ensuring the continued success of this iconic American company.