Warren Buffett Steps Down After Decades—Who Takes over Berkshire Hathaway Now?
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Warren Buffett isn't dead; he's just going to be doing what he loves most: sitting in his office, eating burgers, and waiting for the market to crash so he can buy everything. He'll remain Berkshire's chairman, so Abel will still have to run big decisions by the old man. Think of it as a father-son business, except the son is 62 and the father owns a railroad.
So who takes over Berkshire Hathaway? A Canadian Excel wizard with a flip phone and a passion for power lines. It's not exactly the flashy tech CEO you expected, but that's exactly the point. Berkshire doesn't need a rock star; it needs a steady hand who can keep the cash machine running. And Greg Abel, with his spreadsheets and sensible shoes, is the most exciting boring person in the world.
Now if you'll excuse me, I'm off to buy a Cherry Coke to celebrate. For Buffett's sake, of course.