Meet Greg Abel, the 58-year-old Berkshire Hathaway vice chairman just tapped as Warren Buffett's successor

, would take over the business, but noted that he needed someone younger to fill the role.

"I'm trying to understand what our competitors are doing, what's the fundamental risks around those businesses, how they're going to get disrupted," Abel said at this year's shareholder meeting."It always comes back to are we allocating our capital properly in those businesses relative to the risk?"Abel began his career working for PricewaterhouseCoopers before joining CalEnergy, a geothermal electricity producer, in 1992.

Abel also serves as a director and vice-chairman of Associated Electric & Gas Insurance Services Limited and serves on the board of directors for The Kraft Heinz Company as well as AEGIS Insurance Services.Buy these 14 high-quality stocks poised to beat the market as the economy enters a new phase of rapid growth, Credit Suisse saysGreg Abel has been known as the likely successor to Warren Buffett by many on Wall Street for years now.

Warren Buffett's long-time right-hand man and current Berkshire vice chairman Charlie Munger said that he believes"Greg will keep the culture" that has made Berkshire so successful for decades. Buffett has been an ardent supporter of the American economy, and the stocks that track it, ever since he began investing back in 1942.

Can we go somewhere today?

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Berkshire Chooses Greg Abel as Warren Buffett’s Successor in CEO RoleWarren Buffett said Greg Abel will succeed him as Berkshire Hathaway's chief executive should the 90-year-old billionaire leave the role in the short term. Abel oversees the firm's non-insurance operations. Headline should read “Berkshire hires new CEO who will actually show up to annual conferences” The begining of BH fall. Sell when he retires. Buffett has good confidence on Greg's Abelity.
Source: WSJ - 🏆 98. / 63 Read more »

Just How Rich Is Warren Buffett Successor Greg Abel?Most of Abel's wealth comes from a stake in a privately held Berkshire Hathaway subsidiary. Use to work with his wife Andrea. Nice family.
Source: Forbes - 🏆 394. / 53 Read more »

Just How Rich Is Warren Buffett Successor Greg Abel?Most of Abel's wealth comes from a stake in a privately held Berkshire Hathaway subsidiary.
Source: Forbes - 🏆 394. / 53 Read more »

Meet the Cast and Characters of 'Jupiter's Legacy'Excited for Netflix's latest series, 'Jupiter's Legacy'? Get to know the cast and their characters, including who plays Sheldon, Chloe, Grace, Brandon, Hutch, and more.
Source: seventeen - 🏆 412. / 53 Read more »

Did Beyoncé Really Meet Selena Quintanilla Like in 'Selena: The Series'?Talk about a full circle moment!
Source: seventeen - 🏆 412. / 53 Read more »