Yahoo Autos 7 things to know about Greg Abel, the Iowan in line to lead Berkshire Hathaway
Des Moines resident Greg Abel is poised to become one of the most important business figures in the nation. A current vice chairman of Berkshire Hathaway, Abel will have his first annual meeting as the company’s future CEO on April 30.
Here's what to know about the Iowa businessman.
He's Warren Buffett's chosen successor
Warren Buffett revealed in 2021 that Abel, 59, is in line to lead Omaha-based Berkshire Hathaway, Buffett's $761 billion conglomerate, when the billionaire ceases to be its chief executive.
Buffett has announced no immediate plan to retire or step down from the company's operations.
He's been with Berkshire Hathaway for decades
Abel is chairman of Berkshire Hathaway Energy and oversees Des Moines-based MidAmerican Energy. He came to Berkshire Hathaway when it acquired MidAmerican Energy Holdings in 2000.
He leads Berkshire Hathaway's noninsurance companies, including the BNSF railway and other firms that generated $276 billion in revenue last year.
He grew up and studied business in Canada
Abel grew up in Edmonton, Alberta, according to the Horatio Alger Association.
He graduated from the University of Alberta in 1984 with a degree in commerce and joined PricewaterhouseCoopers in Edmonton as an accountant.
Abel said his parents emphasized education as the foundation for a bright future. "One thing I saw early in my life was that with your family around you, with good friends, it gives you the opportunity to dream."
