Greg Abel is president and CEO of Berkshire Hathaway, the roughly trillion-dollar conglomerate Warren Buffett built. The board confirmed him as Buffett's successor in May 2025, and he took over as chief executive on January 1, 2026 - the first leadership change at the top of Berkshire since Buffett took control in 1965. Buffett remains chairman of the board.
A chartered accountant from Edmonton, Alberta, Abel began his career at PricewaterhouseCoopers, joined the geothermal firm CalEnergy in 1992, and rose to lead MidAmerican Energy, which was rebranded Berkshire Hathaway Energy (BHE) in 2014. He joined Berkshire in 2000 and built BHE into one of the largest power businesses in the United States and a leading producer of wind energy, before being named vice chairman for Berkshire's non-insurance operations in 2018.
Abel now controls both the broad Berkshire empire - insurance (GEICO), the BNSF railroad, manufacturing, retail, and a giant equities portfolio - and, as BHE chairman, a sprawling energy franchise of regulated electric and gas utilities, interstate pipelines, and renewables serving millions of customers. That energy arm is also the source of his biggest challenge: multibillion-dollar wildfire liability at its Western utility PacifiCorp.
What they control
- Berkshire Hathaway: a ~$1 trillion conglomerate spanning insurance, the BNSF railroad, energy, manufacturing, retail, and a vast stock portfolio
- Berkshire Hathaway Energy (BHE): regulated electric and gas utilities, including PacifiCorp, MidAmerican Energy, and NV Energy, serving millions across the Western and Midwestern U.S.
- Major interstate natural-gas pipeline systems owned through BHE (Northern Natural Gas, Kern River and others)
- One of the largest wind- and renewable-power generation fleets in the country
- Capital allocation authority over Berkshire's insurance float and cash hoard, among the deepest pools of investable capital in the world
Key institutions & holdings
Took over as CEO on Jan 1, 2026; Warren Buffett remains board chairman.
Built from MidAmerican Energy; owns PacifiCorp, MidAmerican, NV Energy, and major gas pipelines.
Western U.S. utility at the center of multibillion-dollar wildfire litigation.
Key facts
- Became CEO of Berkshire Hathaway on January 1, 2026, succeeding Warren Buffett, who stays on as chairman.
- Born June 1, 1962, in Edmonton, Alberta; a Canadian chartered accountant who joined Berkshire in 2000.
- His 2026 cash salary as CEO is about $25 million, up roughly 19 percent from the $21 million he earned in 2024 as vice chairman.
- Net worth estimated near $1 billion, largely from Berkshire's 2022 buyout of his roughly $870 million stake in BHE plus about $175 million in Berkshire stock.
- Built Berkshire Hathaway Energy into a leading U.S. utility and one of the country's largest wind-power producers.
- Berkshire has estimated potential PacifiCorp wildfire exposure of up to about $8 billion, with claims in Oregon mass complaints reported as high as $46 billion.
Timeline
- 1992Joins geothermal energy firm CalEnergy, the predecessor of MidAmerican Energy.
- 2000MidAmerican is acquired into the Berkshire Hathaway family.
- 2014MidAmerican is rebranded Berkshire Hathaway Energy; Abel leads it as CEO.
- 2018Named vice chairman of Berkshire Hathaway for non-insurance operations.
- 2025-05Berkshire's board confirms Abel as Buffett's successor; Buffett to step down as CEO at year-end.
- 2026-01-01Becomes president and CEO of Berkshire Hathaway.
Controversies
PacifiCorp wildfire liability · 2023-2026
BHE's Oregon utility PacifiCorp was found grossly negligent by an Oregon jury in 2023 over the 2020 Labor Day wildfires; mass complaints have pushed claims into the tens of billions, with Berkshire estimating up to about $8 billion in exposure. Abel has said the utility is rethinking its wildfire approach, including de-energizing lines.
Utility liability-limiting legislation · 2025
PacifiCorp and its parent have backed bills in Oregon and other Western states to cap utility wildfire liability and damages, which critics argue shift fire risk and costs onto the public.
Concentration of energy infrastructure · ongoing
Critics note that ownership of utilities, pipelines, and generation across many states inside a single conglomerate concentrates control over essential energy infrastructure with limited public accountability.
Network
- Warren BuffettPredecessor and chairmanChose Abel as successor; remains Berkshire's board chairman.
- Ajit JainFellow vice chairmanOversees Berkshire's insurance operations alongside Abel's non-insurance remit.
- Charlie MungerFormer vice chairmanBuffett's longtime partner; died in 2023.
Why this matters
Greg Abel now sits atop both a trillion-dollar conglomerate and the utilities and pipelines that keep the lights on and gas flowing for millions of households across the West and Midwest. Decisions he makes about rates, wildfire safety, fossil-fuel versus renewable investment, and who ultimately pays for catastrophic fires shape the cost and reliability of energy - and the financial security of communities - far beyond Berkshire's shareholders.