Warren Buffett said Greg Abel, who was named his Berkshire Hathaway Inc. heir apparent in 2021, has already taken over most of his responsibilities at the conglomerate.
(Bloomberg) — Warren Buffett said Greg Abel, who was named his Berkshire Hathaway Inc. heir apparent in 2021, has already taken over most of his responsibilities at the conglomerate.
“He does all the work and I take the bows,” Buffett, 92, said in a CNBC interview Wednesday. “It’s exactly what I wanted.”
Abel’s more than two-decade track record at the conglomerate has included high-profile dealmaking and overseeing its sprawling non-insurance businesses, from the BNSF railroad to Dairy Queen.
“They haven’t seen me at the BNSF railroad for 10, 12 years,” Buffett said. “He’s a big improvement on me, but don’t tell anybody.”
Buffett and Abel were speaking in Japan, where Berkshire has invested in a group of trading houses. Those investments have gained an estimated $4.5 billion since 2020, according to data compiled by Bloomberg.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.