Greg Abel’s recent $20 million pay raise is more than just an accounting tidbit; it’s a clear indication from Warren Buffett that Berkshire Hathaway’s power shift is real. It’s happening with conviction and purpose. Buffett quietly let the numbers speak for themselves, while others might make big announcements to herald change. When combined with record operating profits, a pay increase of this size sends a very powerful message: Greg Abel is ready and being carefully positioned.
In the March 2024 report, Berkshire acknowledged that Abel’s benefits package had been significantly increased. It followed Buffett’s quiet but significant declaration in May 2025 that “the time has arrived” to recognize Abel’s long-awaited rise to the position of CEO. It was by no means a coincidence. Following years of planning, the choice represents a particularly creative handover approach in which the transition is characterized by long-lasting planning rather than drama.
| Category | Details |
|---|---|
| Full Name | Gregory Edward Abel |
| Date of Birth | June 1, 1962 |
| Age | 62 (as of 2024) |
| Birthplace | Edmonton, Alberta, Canada |
| Education | BComm in Accounting, University of Alberta; AICPA Certified |
| Spouse | Andrea Abel |
| Children | 4 |
| Current Roles | Chairman & CEO, Berkshire Hathaway Energy; Vice Chairman, Berkshire Hathaway |
| Notable Boards | Kraft Heinz, Edison Electric Institute, Nuclear Electric Insurance Limited |
| Past Role | CEO, MidAmerican Energy (later renamed Berkshire Hathaway Energy) |
| Estimated Net Worth | Includes $68M worth of Berkshire Class A shares (2022) |
| Reference | Reuters Source |
The stories Buffett himself admires are remarkably similar to Abel’s journey from humble beginnings in Edmonton, where he once collected returnable bottles for coins, to controlling the future of a nearly trillion-dollar company. Although Abel enjoyed playing football and hockey as a child, his managerial instincts were shaped by his early employment and economic pragmatism. After completing his studies at the University of Alberta, he began his career at PricewaterhouseCoopers in San Francisco. Understanding why Buffett gave him the keys to the empire is based on that journey, which was marked by discipline and quiet ambition.
Abel had already started to establish a reputation for accuracy and tenacity by the middle of the 1990s. His tenure at CalEnergy, which was later acquired and renamed MidAmerican Energy, proved his capacity to grow utility companies in a highly regulated setting. Long before any formal announcement, his leadership—which peers characterized as remarkably disciplined and incredibly dependable—established him as a leading contender. Subtly but strategically, the seeds of succession were planted in 1999 when Berkshire Hathaway acquired a controlling stake.
His decision to sell his 1% share in Berkshire Hathaway Energy for $870 million in 2022 was a trust exercise as well as a liquidity event. Given the average price of $404,761 per share, his acquisition of $68 million worth of Berkshire Class A stock that same year stood out as being especially advantageous. Executives rarely show stakeholder alignment in such a tangible way. These weren’t merely figures; they were symbolic actions that demonstrated his own dedication to the long-term viability of the business.
Abel is now clearly positioned among the top global CEOs thanks to his now-public compensation package. However, Abel’s pay increase has been greeted with comparatively little fanfare in contrast to the more dramatic announcements surrounding Elon Musk’s bonuses or Sundar Pichai’s stock grants. That is also telling. It embodies Berkshire’s stoic efficiency culture, where shareholder letters are more important than Instagram posts and results speak louder than campaigns.
For background, Berkshire is aggressively opposing shareholder demands for increased supply chain exposure to Chinese government policies, diversity, and transparency on carbon emissions. Despite the urgency of these issues, Berkshire is addressing them at its usual methodical pace. Abel will probably have to strike a careful balance between meeting stakeholder expectations that are changing at an unprecedented rate and staying true to Berkshire’s core identity.
In terms of industry comparisons, his time is similar to Tim Cook’s formative years at Apple. Cook also took on the role of a giant and demonstrated that legacy can serve as a foundation rather than a burden, sometimes inconspicuously but always successfully. Abel’s appointment may turn into a particularly creative case study in generational corporate continuity if he is able to successfully continue Buffett’s strategy while focusing more intently on ESG initiatives, stakeholder engagement, and international expansion.
But it’s Abel’s temperament, not just his skill, that makes him unique. The reserved executive steers clear of ostentation and prioritizes outcomes over rhetoric. He has demonstrated a dedication to resilience over volatility through operational simplification and strategic board appointments. His leadership style, which is based on principles and numbers, is incredibly clear in its goal: preserve the business model without becoming stagnant.
The subtlety of Abel’s succession moment is arguably the most humanizing element of his journey. Even Abel was unaware of the formal announcement on May 3, according to the Associated Press. Only Buffett’s kids knew about the choice. That degree of discretion demonstrates an executive humility that is uncommon at this level, especially in an environment where self-promotion and press cycles are common.
Additionally, this change coincides with a noticeable shift in how society views CEOs. Transparency, political awareness, and cultural fluency are expected of executives. It will be difficult for Abel to uphold Berkshire’s principles while updating its appearance. He must act as a link between Omaha’s modest culture and the dynamic expectations of a new generation of stakeholders in an increasingly vocal investor landscape.
