Berkshire Hathaway enters post-Buffett era as shares drift lower
Berkshire Hathaway's post-Buffett era commenced with a slight dip in shares as Greg Abel assumed the CEO role. The conglomerate, now valued over $1 trillion, faces challenges finding needle-moving acquisitions amidst a record cash pile. Abel inherits a strong financial position, with Buffett remaining as chairman to support the transition.
Berkshire Hathaway's post-Buffett era began quietly Friday, as shares slipped slightly after the "Oracle of Omaha" handed Greg Abel the top job following six decades at the helm.
The world's most famous conglomerate now must protect its record without its chief architect, who remade modern investing and transformed the company from a struggling textile business into an investment giant worth more than $1 trillion.
Known for a long-term strategy and a focus on buying high-quality businesses at reasonable prices, Warren Buffett delivered steady gains that outpaced broader markets and made him a trusted steward of capital.
But Buffett's longtime lieutenant Greg Abel takes over at a sensitive time for the company. Berkshire shares underperformed the benchmark S&P 500 index in 2025, and Buffett has said that it is difficult to find an acquisition that "moves the needle" for the conglomerate.
RECORD CASH, FEWER DEALS
Berkshire has been whittling down its stake in Apple and Bank of America, while building a record cash pile that has worried some investors.
The company held $381.7 billion in cash and equivalents, as of September 30. Berkshire has not said who will take over its equity portfolio, which totaled $283.2 billion at the end of September.
Still, Abel, 63, inherits one of corporate America's biggest war chests. He joined Berkshire in 2000 after it acquired MidAmerican Energy, now known as Berkshire Hathaway Energy.
He has served as vice chairman overseeing Berkshire's non-insurance businesses since 2018.
Berkshire's Class B shares, which trade at a more accessible price point, edged down 0.3% in New York on Friday. Class A shares also traded 0.4% lower.
Wall Street's main indexes, meanwhile, rose on Friday.
Berkshire Hathaway owns a sprawling collection of businesses, including insurer GEICO, BNSF Railway, dozens of manufacturing and energy operations, and consumer brands such as Dairy Queen, Fruit of the Loom and See's Candies.
Buffett will remain chairman and has said he plans to continue coming to Berkshire's office in Omaha each day, about 2 miles (3.2 km) east of his home, to support Abel.