What will be the investment returns of Berkshire Hathaway after Buffett's retirement - the safest cryptocurrency exchange platform

On November 11, 2025,

Berkshire Hathaway published Warren Buffett’s final letter to shareholders,

announcing his official retirement this year,

he will no longer be rambling at shareholder meetings,

and will no longer write shareholder letters.

He has just completed a 60-year tenure at Berkshire Hathaway,

this choice of retirement timing is the result of multiple considerations,

in any case, I think it is very perfect.

In the future,

we might still read his Thanksgiving letters,

which would also be nice.

So,

after Buffett’s succession, will Berkshire Hathaway still maintain the investment returns of the Buffett era? First, let me introduce the successor, Greg Abel.

About Greg Abel

In 1962,

Greg Abel was born into a working-class family in Canada,

his father worked as a salesman,

and the family’s financial situation was modest.

During his student years,

Abel was passionate about sports,

especially hockey.

Every day after school,

he would gather with friends,

enjoying the happiness brought by hockey,

until his family called him home for dinner.

As he grew older,

Abel began working part-time in his spare time,

to ease the financial burden on his family.

He once handed out flyers for his father’s company,

walking through streets and alleys,

delivering flyers to potential customers; he also worked filling fire extinguishers,

though the work was dull,

he always took it seriously,

never slacking off.

In 1984,

Abel graduated from the University of Alberta in Canada,

earning a degree in Business.

During college,

he systematically studied business management,

economics,

accounting, and other subjects,

laying a solid theoretical foundation for his career.

After graduation,

Abel, with his solid professional knowledge and excellent ability,

successfully joined PricewaterhouseCoopers,

beginning his professional journey.

At PwC,

Abel was exposed to various types of enterprises and complex financial transactions,

and through participating in audits,

tax planning, etc.,

he accumulated rich financial knowledge and practical experience.

He gained an in-depth understanding of corporate financial operations,

mastered key skills such as financial statement analysis,

internal controls,

which enabled him to comprehensively and accurately assess a company’s operational status from a financial perspective.

In a 2013 interview, he mentioned: “I was initially interested in finance,

but then realized that accounting is very important,

if you want to understand income and cash flow statements,

you cannot do without accounting.”

In 1992,

Abel, now a Certified Public Accountant, left PwC,

and joined California Energy.

In 1998,

he was promoted to president of the company,

responsible for overall operations and strategic decisions.

Under his leadership,

the company continuously expanded its business areas,

enhanced market competitiveness,

and achieved significant growth.

In 1999,

California Energy acquired Sino-American Energy,

and renamed the company Sino-American Energy.

Abel’s role evolution at Berkshire

2.1 Early days at Berkshire: emerging

In 1999,

Berkshire Hathaway successfully acquired controlling interest in Sino-American Energy,

and Abel, as a member of Sino-American Energy,

formally joined Berkshire Hathaway.

From the start at Berkshire,

Abel quickly demonstrated his outstanding talent and deep expertise in energy business.

With keen insight into the energy market and precise market judgment,

he quickly stood out in the company.

In energy operations management,

Abel showed extraordinary ability.

He actively promoted diversification of the company’s energy business,

not only expanding traditional energy sectors,

but also keenly capturing development opportunities in renewable energy,

taking the lead in wind and solar projects.

Under his leadership,

Sino-American Energy made significant progress in renewable energy,

investing in and building large-scale wind and solar power projects,

gradually becoming an important player in the renewable energy sector of the US energy market.

These projects not only brought considerable economic benefits,

but also enhanced the company’s social image and market competitiveness,

laying a solid foundation for Berkshire Hathaway’s long-term development in energy.

2.2 Path to promotion: gradually becoming a core figure

With Abel’s excellent performance in energy,

his position in Berkshire Hathaway gradually improved.

In 2008,

he was appointed CEO of Sino-American Energy.

During his tenure as CEO,

Abel fully leveraged his leadership skills and strategic vision,

leading Sino-American Energy to leapfrog development.

He formulated a series of forward-looking development strategies,

actively promoted mergers and acquisitions in the energy sector,

and through resource integration,

further enhanced the company’s market competitiveness.

Under his leadership,

Sino-American Energy acquired multiple energy companies,

not only expanding its business scale,

but also optimizing its business structure,

forming a complete industrial chain in energy production,

transportation,

and sales.

In 2014,

Sino-American Energy officially renamed itself Berkshire Hathaway Energy.

In 2018,

Abel was appointed Vice Chairman of Berkshire Hathaway responsible for non-insurance businesses,

joining the company’s core management team.

This promotion was a high recognition of his outstanding performance in energy over the years,

and granted him broader responsibilities and greater authority.

As Vice Chairman of non-insurance businesses,

Abel began overseeing many important non-insurance operations under Berkshire,

including Burlington Northern Santa Fe Railway,

candy manufacturer See’s Candies,

Snow Queen, and numerous manufacturing and retail companies.

With rich management experience and excellent leadership,

he actively promoted synergy among various business segments,

optimized resource allocation,

and improved overall operational efficiency and profitability.

2.3 Designated as successor: Buffett’s choice and considerations

In 2021,

the late Charlie Munger revealed at a shareholder meeting that Abel would become Buffett’s successor,

officially confirming Abel’s future leadership at Berkshire Hathaway.

Buffett’s choice of Abel as successor,

was a well-considered decision,

taking multiple factors into account.

Abel’s outstanding ability in business operations is one of the key reasons Buffett chose him.

In nearly thirty years at Berkshire Hathaway,

Abel achieved remarkable success in energy,

successfully developing Berkshire Hathaway Energy into a major force in the US energy industry.

He demonstrated superb abilities in corporate management,

strategic planning,

project execution,

and has extensive practical experience.

Whether in expanding energy business,

or managing and integrating internal operations,

Abel performed excellently,

able to effectively handle various complex business challenges,

creating enormous value for the company.

Abel’s high alignment with Buffett’s investment philosophy and values is also a crucial factor.

Buffett has always adhered to value investing,

focusing on companies with long-term competitive advantages and stable cash flows,

and holding investments long-term.

Abel also shows a deep understanding and recognition of value investing principles,

in energy investment decisions,

he always insists on focusing on intrinsic value,

paying attention to long-term returns and stability.

When promoting renewable energy projects,

he not only considers short-term economic benefits,

but also fully considers future industry development trends and environmental protection requirements,

reflecting his long-term vision and strategic thinking.

This alignment of investment philosophy and values,

allows Abel to better inherit and continue Buffett’s investment philosophy,

ensuring Berkshire Hathaway maintains a steady investment style and good development momentum in the “post-Buffett era.”

Abel’s modest and pragmatic personality and excellent teamwork are also highly appreciated by Buffett.

In Berkshire Hathaway’s corporate culture,

values such as integrity,

pragmatism,

and teamwork are highly valued.

Abel is low-key,

not pursuing personal fame or exposure,

but dedicates all his energy to work,

focusing on creating value for the company.

He is good at listening to others’ opinions and suggestions,

and can fully leverage team members’ strengths,

stimulating team cohesion and creativity.

Under his leadership,

team members trust and support each other,

forming a positive work atmosphere.

This personal trait and teamwork ability,

allow Abel to better integrate into Berkshire Hathaway’s corporate culture,

and establish good cooperative relationships with other management and staff,

jointly promoting the company’s development.

In summary,

Buffett’s choice of Abel as successor,

is based on full recognition and trust in his abilities,

experience,

investment philosophy,

and personal qualities.

Throughout Berkshire Hathaway’s long-term development,

Abel has gradually earned Buffett’s and the board’s trust through his efforts and excellent performance,

becoming the suitable candidate to lead Berkshire Hathaway into the “post-Buffett era.”

After learning about Greg Abel’s personal background,

let’s revisit Buffett’s early criteria and requirements for choosing a successor: first,

possess large-capital allocation ability; second,

he is now very wealthy; third,

has worked for a long time and enjoys his work; fourth,

can bring value to the company every year; fifth,

makes reasonable and rational investment decisions; sixth,

earns the trust of the board.

Later, these were simplified into four core requirements: including risk sensitivity,

independent thinking,

emotional stability, and understanding of institutional investor behavior.

After years of assessment,

Greg Abel was selected as the CEO successor because he met these standards,

and officially took office on January 1, 2026, to take over Berkshire Hathaway.

So,

after he takes over,

will the company’s investment performance surpass Buffett’s? Or will it be impossible to surpass the Buffett era?

My personal prediction is,

Greg Abel is an excellent candidate,

very aligned with Buffett’s value investing philosophy,

and under the condition that corporate culture and values remain unchanged,

because Greg Abel’s personal skill set differs from Buffett’s,

his future investment targets may differ from the simple, easy-to-understand consumer goods favored during Buffett’s era,

possibly including high-tech industries that Buffett has avoided or doesn’t understand,

so,

I believe his investment choices will definitely be different from Buffett’s,

and influenced by value investing principles,

he will also place great emphasis on risk.

I think his investment returns should not be worse than Buffett’s over the past 25 years.

However,

as Berkshire Hathaway’s capital size continues to grow,

it will offset some of the excess returns,

so,

if performance does not decline,

he will have already surpassed Buffett.

What the future holds,

none of us know,

let’s quietly leave it to time.

Fellow investors,

what do you think?

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