Billionaire investor Warren Buffett has expressed strong confidence in Greg Abel, the new chief executive of Berkshire Hathaway, saying he would rather have Abel manage his own money than any top investment adviser or CEO in the United States.
Speaking to CNBC after formally stepping down as CEO, Buffett said Berkshire Hathaway remains exceptionally well-positioned for the long term under Abel’s leadership. “It has a better chance, I think, of being here 100 years from now than any company I can think of,” Buffett said, adding that Abel’s decisiveness and work ethic far exceed his own. “I can’t imagine how much more he can get accomplished in a week than I can in a month.”
Buffett’s comments come as Berkshire begins a new chapter following the end of his nearly six-decade tenure, during which he transformed a struggling textile business into a $1-trillion conglomerate spanning insurance, energy, railroads and consumer brands, with more than $300 billion in cash on its balance sheet.
Shares of Berkshire edged slightly lower after the leadership transition, reflecting investor caution as the company adjusts to life without the legendary “Oracle of Omaha” at the helm. Analysts say that while Buffett has meticulously prepared for succession, uncertainty remains over whether the firm can sustain its unique culture and long-term investment philosophy without him.
“It’s hard to imagine that there will be the same cult following,” Brian Jacobsen, chief economic strategist at Annex Wealth Management, told Reuters.
Abel, 63, has been with Berkshire since 2000, joining after the acquisition of MidAmerican Energy, now Berkshire Hathaway Energy. He steps into leadership at a time when the conglomerate faces fresh challenges, including slowing acquisition opportunities due to its sheer size and scrutiny over its record cash pile, which stood at $381.7 billion as of September 30.
Berkshire also lagged the S&P 500 in 2025, and Buffett has acknowledged the growing difficulty of finding deals large enough to move the needle. The firm has trimmed stakes in long-held investments such as Apple and Bank of America, further fueling debate over capital deployment.
Despite these concerns, analysts broadly agree that Buffett’s deliberate succession planning has positioned Abel to take charge with continuity rather than disruption. As Buffett himself put it, the future of Berkshire is now firmly in Abel’s hands — and he wouldn’t have it any other way.
Warren Buffett Backs Greg Abel as Berkshire Hathaway Enters New Era
