In the world of high finance and corporate titans, few names have risen as swiftly—and as quietly—as Greg Abel. Unlike many business leaders who court media attention, Abel has built his career and fortune in the background, letting results speak louder than headlines. Yet, in recent years, his name has become front and center, especially after Warren Buffett named him as the future CEO of Berkshire Hathaway, one of the most admired and successful companies in American history.
So, how did Greg Abel make his money? Who is this man who Warren Buffet has called ‘a natural’. His path wasn’t marked by flashy startups or hedge fund gambits. Instead, it was defined by disciplined execution, deep operational expertise, and an unwavering commitment to long-term value. This article explores Abel’s rise from modest beginnings in Canada to becoming one of the wealthiest and most influential executives in the world—and the man trusted to carry Buffett’s legacy forward.
Early Life: Humble Roots in Alberta
Gregory Edward Abel was born in June 1962 in Edmonton, Alberta, Canada. Raised in a middle-class family, he grew up with a strong work ethic instilled by his parents. His early years were shaped not by stock markets or boardrooms, but by ice hockey rinks and small-town values.
Abel earned a degree in commerce from the University of Alberta, graduating in 1984. He went on to earn his CPA designation, giving him a solid foundation in finance and accounting. He started his career with PricewaterhouseCoopers (PwC), where he worked in the utility and energy sectors—experience that would prove to be critically important later on.
Abel’s path to wealth didn’t begin with a flashy IPO or Silicon Valley venture—it began with power plants and energy grids. And it was in these often-overlooked industries that he would find his stride and build his fortune.
Career Beginnings: Entering the World of Energy
After his time at PwC, Abel joined CalEnergy, a small but growing geothermal energy company. He quickly made an impression as a sharp, disciplined operator with a deep understanding of the energy business. CalEnergy was ambitious and looking to expand—and Abel was the kind of executive who could make that happen.
In the mid-1990s, CalEnergy acquired MidAmerican Energy, an Iowa-based utility company. Abel played a key role in the transaction, and after the merger, he became increasingly central to the company’s operations. His work ethic, strategic mind, and ability to execute caught the attention of MidAmerican’s top leadership—and eventually, of Warren Buffett.
In 1999, Berkshire Hathaway acquired a controlling interest in MidAmerican Energy Holdings Company, giving Buffett a toehold in the regulated utility industry. The deal wasn’t just about power plants—it was about management, and Abel stood out as a rising star.
Building Berkshire Hathaway Energy: Quietly Compounding Wealth
Once under the Berkshire umbrella, MidAmerican Energy transformed into what is now known as Berkshire Hathaway Energy (BHE). And Greg Abel was at the helm of its growth.
As CEO of BHE, Abel helped build one of the largest and most respected energy conglomerates in North America. Under his leadership, BHE expanded into natural gas, electric transmission, and renewable energy—including wind and solar. The company’s operations now span the U.S., Canada, and the U.K.
BHE owns major utility companies like PacifiCorp, NV Energy, and Northern Powergrid, and it holds a significant stake in BYD, a Chinese electric vehicle and battery manufacturer. Abel was instrumental in orchestrating these acquisitions and expanding BHE’s footprint in a heavily regulated industry that requires both operational savvy and political finesse.
Throughout this process, Abel didn’t just collect a salary—he built equity. He acquired a roughly 1% stake in BHE, and as the company’s value grew, so did his wealth. By conservative estimates, Abel’s net worth soared into the hundreds of millions, and later crossed the billion-dollar threshold—mostly tied to his ownership in Berkshire entities and long-term incentive plans.
Investment Philosophy: Conservative, Long-Term, and Results-Driven
While Greg Abel isn’t as publicly quoted as Warren Buffett or Charlie Munger, his investment philosophy closely mirrors theirs: Buy great assets, hold them for the long term, and run them well.
Abel believes in:
- Operational excellence: Rather than financial engineering, Abel emphasizes running businesses efficiently and responsibly.
- Long-term capital allocation: Like Buffett, he resists short-term trends in favor of durable cash-flow generating businesses.
- Sustainability: Abel has pushed BHE to be a leader in renewable energy, investing tens of billions in wind, solar, and battery storage systems. His strategy is rooted in the belief that clean energy is both economically and environmentally sound.
He is also known for his disciplined approach to M&A—never overpaying, always focused on cash flow, and avoiding businesses he doesn’t understand. It’s no wonder Buffett trusted him as a steward of Berkshire’s sprawling empire.
Relationship with Warren Buffett: Trust Built Over Decades
Warren Buffett’s admiration for Greg Abel is well-documented. For years, Abel remained behind the scenes, quietly compounding value for Berkshire shareholders while building one of the most important businesses in the conglomerate’s portfolio.
But Buffett was paying close attention. In shareholder letters and interviews, Buffett praised Abel’s management style, his capital allocation skill, and his ability to lead.
In 2021, during Berkshire’s annual shareholder meeting, Buffett confirmed what many had suspected: Greg Abel would be his successor. When asked who would take over Berkshire Hathaway if Buffett stepped down, he replied, “The directors are in agreement that if something were to happen to me tonight, it would be Greg who’d take over tomorrow morning.”
That moment cemented Abel’s legacy—not just as a successful executive, but as the future face of Berkshire Hathaway.
2024–2025: Buffett Steps Down, Abel Takes the Reins
In late 2024, after nearly six decades at the helm, Warren Buffett officially announced his retirement as CEO of Berkshire Hathaway, though he remained involved as chairman and advisor. The transition had been planned for years, and when it finally came, it was smooth, respectful, and fully expected.
In early 2025, Greg Abel formally became CEO of Berkshire Hathaway—a role he had been preparing for over two decades. His appointment marked a generational shift but not a strategic one. Abel made it clear that he intended to preserve Berkshire’s core philosophy: decentralized management, conservative balance sheets, and long-term investing.
Investors, analysts, and Berkshire’s business leaders largely welcomed the transition. Abel was known to all of them—not as a flashy showman, but as a diligent manager with a deep respect for Berkshire’s culture and history. He had earned the trust not just of Buffett, but of the entire ecosystem built around Berkshire Hathaway.
Personal Life: Family, Modesty, and Canadian Roots
For all his success, Greg Abel is known for being private, modest, and low-key. He avoids media attention and rarely gives interviews. While his wealth has grown considerably, he hasn’t adopted a celebrity lifestyle.
Abel is married and has children, and he has remained close to his Canadian roots. He continues to maintain strong ties to the University of Alberta, where he has donated significant funds and helped establish scholarships for business students.
Unlike many billionaires, Abel has never flaunted his wealth. He prefers time with family, quiet business operations, and staying focused on the big picture. That temperament—calm, deliberate, and composed—has made him an ideal successor to Buffett.
So, How Did Greg Abel Make His Money?
In a world obsessed with tech unicorns and flashy IPOs, Greg Abel made his money the old-fashioned way: through discipline, deep operational knowledge, and building businesses that last.
He earned his fortune by:
- Climbing the ranks in the energy industry.
- Taking smart equity stakes in the businesses he ran.
- Leading Berkshire Hathaway Energy through massive expansion.
- Earning Buffett’s trust and ultimately inheriting the reins of one of the most successful holding companies in the world.
Abel’s wealth is not just about numbers—it’s about consistency, integrity, and an unshakeable commitment to value creation. And now, as the new CEO of Berkshire Hathaway, he’s tasked with leading a $900+ billion enterprise into the next era of investing.
Greg Abel’s rise is a story of patience, precision, and purpose. He didn’t seek fame, but he earned respect. He didn’t chase fads, but he built enduring value. And now, as the man chosen to succeed Warren Buffett, he holds one of the most influential positions in global finance.
The question, “How did Greg Abel make his money?” has a simple answer: He made it the Berkshire way—quietly, steadily, and brilliantly.