Warren Buffett’s Successor Has Finally Arrived. Meet Greg Abel.

After six decades, $365,000 of returns for every $1 invested, and a cult following that rivals any rock star, Warren Buffett is stepping down. The 94-year-old Oracle of Omaha will hand over the CEO reins of Berkshire Hathaway at the end of 2025. His replacement? A Canadian accountant who likes hockey and built his empire in Des Moines: Greg Abel.

A Billionaire’s Blueprint

Abel isn’t new to the Berkshire machine. He’s been with the company since 2000, helped turn MidAmerican Energy into a multi-billion-dollar operation, and was officially tapped as Buffett’s successor back in 2021. But the announcement still hit like a jolt at Berkshire’s annual shareholder meeting this weekend. Even Abel didn’t seem to see it coming.

He’ll take over one of the world’s most iconic companies—with $1.1 trillion in assets, $348 billion in cash, and a reputation so revered that Buffett’s mere presence could prop up markets in a crisis. The question now: can Abel keep the magic alive?

Not Buffett 2.0—And That’s the Point

Abel is expected to take a “more active” approach than Buffett, who famously let his companies run themselves. At the meeting, Buffett joked Abel would do the job “better,” while also admitting he’d sometimes let bad actors slide, whereas Abel acts.

That’s crucial. Because while Buffett built Berkshire by writing legendary checks during moments of panic, Abel inherits a different challenge: deploying a war chest in a market where private equity and Big Tech often outbid traditional buyers. His biggest job might not be investing—it’ll be managing a sprawling empire of 70+ companies, from GEICO to See’s Candies.

Wall Street’s Mixed Reaction

Berkshire stock fell over 5% after the announcement—investors are clearly nervous. Bloomberg analysts called it the end of an era. But others, like Apple’s Tim Cook and former board members, say Berkshire is in steady hands.

Still, some worry that without Buffett’s brand, shareholders will start asking tougher questions—like why exactly Berkshire is hoarding hundreds of billions in cash. Abel may not be able to ride the same wave of trust Buffett earned over decades of performance and plainspoken charm.

The Takeaway: Warren Buffett isn’t just leaving behind a company. He’s leaving behind a culture, an investing philosophy, and a legacy that might never be replicated. Greg Abel doesn’t have to be Warren. But he does have to prove he knows what to do with the house that Warren built.

And investors are watching.