Warren Buffett is preparing for his eventual departure from Berkshire Hathaway, signaling that it won’t be long before Greg Abel succeeds him as CEO. The investing icon has praised Abel, cleared the decks for him, and taken steps to protect his personal legacy.
Buffett has spent 60 years transforming Berkshire Hathaway into a $1 trillion company, outpacing even Tesla, Walmart, and JPMorgan. He took control of the conglomerate in 1965 and has steadily acquired scores of businesses, including Geico and See’s Candies. Now at 94, Buffett knows the end of his time as CEO is near, and he’s carefully paved the way for Abel.
Buffett has warned shareholders that the clock is ticking on his time in charge and has touted Abel as a worthy successor. He’s also sought to protect his legacy by setting up a trust that will manage his roughly 14% stake in Berkshire worth over $150 billion after his passing.
Abel’s succession plan is seen as an exemplary model for corporate governance, providing an under-appreciated example of how this can be done well. Buffett has repeatedly reassured stockholders that Abel is ready to take the reins, and he’s even joked about stepping down soon, possibly announcing his decision at Berkshire’s annual meeting in May.
As Buffett prepares to pass the torch, he appears to be clearing the decks by selling off smaller investments and cashing in stocks to boost Berkshire’s cash pile. This will leave a treasure trost for Abel to spend on stocks or pursue long-held acquisitions.
Source: https://www.businessinsider.com/warren-buffett-berkshire-hathaway-succession-planning-greg-abel-stock-billionaires-2025-2