Greg Abel facts for kids
Quick facts for kids
Greg Abel
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|---|---|
| Born |
Gregory Edward Abel
June 1, 1962 |
| Education | University of Alberta (BComm) |
| Occupation | Chairman and CEO of Berkshire Hathaway Energy Vice-chairman of Berkshire Hathaway |
| Spouse(s) | Andrea Abel |
| Children | 4 |
Gregory Edward Abel (born June 1, 1962) is a Canadian businessman. He is the top leader, called the chairman and CEO, of Berkshire Hathaway Energy. He is also a vice-chairman at Berkshire Hathaway. In May 2025, it was announced that he will become the main CEO of Berkshire Hathaway, taking over from Warren Buffett.
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Early Life and School Days
Gregory Edward Abel was born on June 1, 1962. His hometown is Edmonton, Alberta, in Canada.
When he was a kid, Greg did many small jobs to earn money. He delivered flyers and collected bottles to return them. He also worked for a company that made products from trees. As a child, he really liked playing hockey and football.
He went to the University of Alberta. In 1984, he earned a degree in accounting. This means he learned how to manage money for businesses. He is also a certified public accountant.
Greg Abel's Career Journey
Greg Abel started his career as an accountant. He worked for a company called PricewaterhouseCoopers. His office was in San Francisco.
In 1992, he joined a company named CalEnergy. This company made electricity using heat from the Earth. In 1999, CalEnergy bought another company called MidAmerican Energy. They then started using the MidAmerican name.
Later that same year, Berkshire Hathaway bought a big part of MidAmerican Energy. This meant Berkshire Hathaway became the main owner. Greg Abel became the CEO of MidAmerican in 2008. In 2014, the company changed its name again to Berkshire Hathaway Energy.
Becoming a Top Leader at Berkshire Hathaway
In January 2018, Greg Abel got a very important job. He was named a vice chairman for the parts of Berkshire Hathaway that are not about insurance. He also joined Berkshire's board of directors. This is a group of people who help guide the company.
In May 2021, Warren Buffett said something important. He confirmed that Greg Abel would be his future successor. This means Greg would take over as the main CEO of Berkshire Hathaway one day. Many people say Greg's smart handling of a company takeover in the 1990s showed he was ready for this.
In June 2022, Greg sold a small part of his ownership in Berkshire Hathaway Energy. He sold about 1% of it for a lot of money, $870 million.
In October 2022, it was shared that Greg bought more shares in Berkshire Hathaway. Shares are like small pieces of ownership in a company. He bought 168 Class A shares. These shares were worth about $68 million.
On May 3, 2025, Warren Buffett announced the time had come. He said Greg should become the chief executive officer by the end of the year. This means Greg Abel will soon step into Warren Buffett's shoes as the overall CEO of Berkshire Hathaway.
Awards and Recognition
In 2018, Greg Abel received a special award. It was called the Horatio Alger award. This award honors people who have achieved great success despite facing challenges.
