When Greg Abel succeeds Warren Buffett at the helm of Berkshire Hathaway at the end of this year, he is expected to preserve the culture at the organisation even if he does not match the star power of his legendary boss.
Mr Abel, 62, now a Berkshire vice chairman, is expected by investors and analysts to uphold the $1.18 trillion conglomerate's track record of investing in companies for the long haul and eschewing dividend payments to shareholders.
Berkshire, which owns railroads, insurance companies and an ice-cream maker, has been planning for decades for the eventuality when Mr Buffett, 94, who has run the company since 1965, is no longer there.
Mr Buffett is ending his career as perhaps the world's most famous and revered investor, saying he will step down as chief executive of Berkshire Hathaway at the end of 2025. The move caps an era for Berkshire after Mr Buffett's extraordinary 60 years at the helm, which made him a household name, a multi-billionaire and an American success story.
Still, it came as a surprise when Mr Buffett announced on Saturday that Mr Abel should replace him as chief executive. The Oracle of Omaha had not before signalled a clear intention on when to step aside.
Mr Buffett has long alluded to his advanced age, and before announcing his planned departure at Berkshire's annual shareholder meeting in Omaha signalled Mr Abel was more up to the job than he was.
“It's working way better with Greg Abel than with me, because I don't want to work as hard as he works,” Mr Buffett said.
One questioner asked Mr Abel what his management approach to subsidiaries would be. “More active”, he responded.
Mr Abel also praised Mr Buffett, saying “Warren has obviously been a remarkable teacher, and I have benefitted from that for years”.
A details man
Gregory Edward Abel was born in Edmonton, Alberta, on June 1, 1962, to a working-class family.
Working odd jobs, he cleaned discarded bottles and filled fire extinguishers, according to the Horatio Alger Association of Distinguished Americans, an education non-profit that honoured Mr Abel in 2018.
“It was a real working-class family where sometimes people had jobs and sometimes they didn’t,” Mr Abel said about his childhood in a video posted on the Horatio Alger website. “You realised we were all working hard to try to advance our family.”
Mr Abel graduated in 1984 from the University of Alberta and worked at PricewaterhouseCoopers and energy company CalEnergy.
He joined Berkshire Hathaway Energy, then known as MidAmerican Energy, in 1992, which Berkshire later took over, and became MidAmerican's chief in 2008.
Mr Abel now oversees Berkshire's non-insurance operations such as BNSF, Berkshire Hathaway Energy and dozens of chemical, industrial and retail operations.
He has in the past year also taken over some of the capital allocation responsibilities that had been Mr Buffett's.
Mr Buffett said last year he would also want Mr Abel to have final say on decisions regarding Berkshire's portfolio of public stocks, a job previously thought would be left to others.
Many executives who work with Mr Abel call him a perceptive questioner who closely scrutinises financial metrics and wants to closely understand the businesses and how they are run.
Mr Abel's questions “ensure you are thinking through directives and plans as a company”, said Chris Kelly, chief executive of HomeServices of America, the largest US residential real estate brokerage. “You come away smarter from having a conversation with him.”
Results
Light Flyweight (49kg): Mirzakhmedov Nodirjon (UZB) beat Daniyal Sabit (KAZ) by points 5-0.
Flyweight (52kg): Zoirov Shakhobidin (UZB) beat Amit Panghol (IND) 3-2.
Bantamweight (56kg): Kharkhuu Enkh-Amar (MGL) beat Mirazizbek Mirzahalilov (UZB) 3-2.
Lightweight (60kg): Erdenebat Tsendbaatar (MGL) beat Daniyal Shahbakhsh (IRI) 5-0.
Light Welterweight (64kg): Baatarsukh Chinzorig (MGL) beat Shiva Thapa (IND) 3-2.
Welterweight (69kg): Bobo-Usmon Baturov (UZB) beat Ablaikhan Zhussupov (KAZ) RSC round-1.
Middleweight (75kg): Jafarov Saidjamshid (UZB) beat Abilkhan Amankul (KAZ) 4-1.
Light Heavyweight (81kg): Ruzmetov Dilshodbek (UZB) beat Meysam Gheshlaghi (IRI) 3-2.
Heavyweight (91kg): Sanjeet (IND) beat Vassiliy Levit (KAZ) 4-1.
Super Heavyweight ( 91kg): Jalolov Bakhodir (UZB) beat Kamshibek Kunkabayev (KAZ) 5-0.
UK%20record%20temperature
%3Cp%3E38.7C%20(101.7F)%20set%20in%20Cambridge%20in%202019%3C%2Fp%3E%0A
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Results
6.30pm: Mazrat Al Ruwayah – Group 2 (PA) $36,000 (Dirt) 1,600m, Winner: RB Money To Burn, Tadhg O’Shea (jockey), Eric Lemartinel (trainer)
7.05pm: Handicap (TB) $68,000 (Turf) 2,410m, Winner: Star Safari, William Buick, Charlie Appleby
7.40pm: Meydan Trophy – Conditions (TB) $50,000 (T) 1,900m, Winner: Secret Protector, William Buick, Charlie Appleby
8.15pm: Al Maktoum Challenge Round 2 - Group 2 (TB) $293,000 (D) 1,900m, Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass
8.50pm: Al Rashidiya – Group 2 (TB) $163,000 (T) 1,800m, Winner: Zakouski, William Buick, Charlie Appleby
9.25pm: Handicap (TB) $65,000 (T) 1,000m, Winner: Motafaawit, Sam Hitchcock, Doug Watson
ENGLAND SQUAD
Joe Root (captain), Dom Sibley, Rory Burns, Dan Lawrence, Ben Stokes, Ollie Pope, Ben Foakes (wicketkeeper), Moeen Ali, Olly Stone, Chris Woakes, Jack Leach, Stuart Broad
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
In 2018, the ICRC received 27,756 trace requests in the Middle East alone. The global total was 45,507.
There are 139,018 global trace requests that have not been resolved yet, 55,672 of these are in the Middle East region.
More than 540,000 individuals approached the ICRC in the Middle East asking to be reunited with missing loved ones in 2018.
The total figure for the entire world was 654,000 in 2018.
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
Spare
Profile
Company name: Spare
Started: March 2018
Co-founders: Dalal Alrayes and Saurabh Shah
Based: UAE
Sector: FinTech
Investment: Own savings. Going for first round of fund-raising in March 2019
