When Warren Buffet stood at the age of 94 in the last minutes of the 60th annual meeting of Hathaway, everyone understood that he would tell an investment formula or a funny anecdote as usual.

But he said something that shocked everyone. Even his successor Greg Abel was not aware of this news. Buffett announced that this would be his last shareholders meeting and will now take over the company’s reins.

29 lakh crore responsibility on Abel’s shoulder

Greg Abel has a $ 1.2 trillion dollars’ responsibility on the shoulders. Along with this, he also has the responsibility of stocks from veteran stocks like Apple and American Express to insurance, energy, railway and consumer brands. Apart from this, they are getting inherited cash of $ 350 billion, they are about 29 lakh crores in Indian rupees. Now the question arises that how will Greg Abel bear all these responsibilities.

Buffet’s magic and abbal test

Alice Shroder, who wrote a biography of Warren Buffett, says that Buffett’s charisma was different and it is difficult to repeat it. However, Abel has already proved his ability. He brought Berkshire’s energy unit to large heights and made many big deals. But now they will have real test. Actually, Berkshire has a huge investment portfolio, which is very big responsibility to handle.

What will happen to 4 lakh employees?

About 4 lakh employees work in Berkshire. In such a situation, after Warren Buffet, this big question has arisen whether Abel will be able to handle these 4 lakh employees. However, Abel has said that he will follow the principles of Buffett. But there are many questions in the minds of investors whether Berkshire’s stock will be equally attractive without buffett? Will the company give dividend or increase share back?

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Warren Buffet, who was counted among the world’s most successful investors, finally announced the announcement that was being waited for years. On Saturday, Buffet told the shareholders of his company Berkshire Hathaway, “I think the time has come when Greg Abel should be made the company’s CEO.” Yes, 94 -year -old Warren Buffet has made it clear that by the end of this year, he will be removed from the post of CEO and recommending the command of the company to Greg Abel.

Greg Abel did not even have information

This announcement was made when a long five-hour Q&A session ended and after that no question and answer were allowed. The interesting thing is that the information of this decision of Buffet was already only to their children – Howard and Susie Buffet, who themselves are on the company’s board. Even Greg Abel, who was sitting on the stage with Buffet, did not even know about this decision.

Who is Greg Abel? (Who is Greg Abel)

According to the Times of India report, 62 -year -old Greg Abel, who has been part of Berkshire Hathaway for the last 25 years, is now going to handle this $ 865 billion company. Born in Canada’s Admontation, Abel comes from a highly ordinary family. In childhood, he spent his studies by doing small work like servicing of bottles in childhood to servicing of fire extinguishers. After graduating from the University of Alberta in 1984, Abel worked in companies like PriecWaterhouseCoopers and Calenergy.

Then in 1992, he joined Midamerican Energy, which was bought by Berkshire in 1999. His real flight started from here. In 2008, he became the CEO of Midamerican and now he handles all non-insurance companies of Berkshire, such as BNSF Railways, Berkshire Hathaway Energy and many retail and industrial business.

Abel is reliable of Warren Buffet

In 2021 itself, it was decided that if Buffet would ever leave the post of CEO, then Greg Abel will replace him. However, he has not yet participated directly in the big investment decisions of the insurance sector or the company. Now he will also take over this responsibility and he will get along with Vice Chairman Ajit Jain in this work.

Greg Abel gets a lot of respect in Berkshire’s leadership circle, but his real test will now begin. It is not easy for anyone to work like a legend like Warren Buffett, which has been running the company in a very personal style with his 30 per cent stake. Abel does not have that much stake and this can affect his decisions. But Buffet himself has made it clear that he trusts Greg and will also maintain his financial stake in the company.

Will Greg Abel be able to become “Next Warren Buffet”?

This question is now roaming in the mind of every investor and business world. Will Greg Abel be able to do what Buffetted did in decades? Will he be able to sit on that investment chair, whose height is made by Buffet itself, at present, the end of one era and the beginning of the new era has been decided. Now the time will tell what Greg Abel can do.

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