Greg Abel
Gregory Edward Abel | |
|---|---|
| Born | June 1, 1962 Edmonton, Alberta, Canada |
| Occupation | Business executive |
| Years active | 1992–present |
| Known for | Chairman and CEO of Berkshire Hathaway Energy; Vice-chairman of Berkshire Hathaway |
Gregory Edward Abel (born June 1, 1962) is a Canadian executive serving as chairman and CEO of Berkshire Hathaway Energy. Since January 2018, he has also held the position of vice-chairman overseeing Berkshire Hathaway's operations outside the insurance sector. In May 2025, it was announced that Abel will succeed Warren Buffett as CEO of Berkshire Hathaway following Buffett's planned retirement later that year.
Early life and family
Abel was born in Edmonton, Alberta. His father was employed in the manufacturing of firefighting equipment, while his mother balanced roles as a homemaker and a part-time legal secretary. He is related to hockey player Sid Abel as his nephew.
During his youth, Abel undertook several jobs such as distributing flyers and working at a forest products company. He also participated in hockey and football during his formative years.
He graduated from the University of Alberta with a bachelor's degree in accounting in 1984 and holds certification as a public accountant (AICPA).
Abel has four children: three from his first marriage and one son with his current spouse, Andrea Abel. He resides in Iowa, where he maintains a private lifestyle but remains involved in youth sports activities.
Career
Abel started his professional journey as a chartered accountant at PricewaterhouseCoopers in San Francisco. He joined CalEnergy, a company specializing in geothermal power generation, in 1992. Following CalEnergy’s acquisition of MidAmerican Energy in 1999—which subsequently took on the MidAmerican name—Berkshire Hathaway gained majority control that same year. Abel was appointed CEO of MidAmerican in 2008, and the company was rebranded as Berkshire Hathaway Energy in 2014.
In January 2018, he was promoted to vice chairman responsible for Berkshire Hathaway’s non-insurance businesses and became a member of Berkshire’s board of directors.
Abel holds additional leadership roles including vice chairman of the Edison Electric Institute. He also serves on the boards of AEGIS Limited, Kraft Heinz, Nuclear Electric Insurance Limited, the Hockey Canada Foundation, the Mid-Iowa Council Boy Scouts of America, and the American Football Coaches Foundation. His previous board memberships include trustee positions at Duke University and Drake University.
Warren Buffett publicly identified Abel as his successor for Berkshire Hathaway’s CEO role in May 2021. This decision followed Abel’s significant involvement during CalEnergy’s acquisition of a UK utility in the 1990s, which marked an important milestone leading to his eventual succession.
In June 2022, Abel divested his 1% ownership stake in Berkshire Hathaway Energy for $870 million. Later that year, in October 2022, he acquired 168 Class A Berkshire shares valued at about $68 million, substantially increasing his investment stake.
Buffett confirmed in May 2025 that Abel would assume the CEO position at Berkshire Hathaway by the end of that year. Reports suggest Buffett selected Abel due to his diligent work ethic, strategic mindset, adherence to value investing principles, and commitment to preserving Berkshire’s corporate culture.
Honors
Abel was honored with the Horatio Alger Award in 2018.