Vice Chairman of Non Insurance Operations & Director, Berkshire Hathaway
Greg Abel responds to who will replace Charlie Munger | Berkshire Hathaway Annual Meeting 2026
#gregabel #warrenbuffett #charliemunger #berkshirehathaway #succession #berkshirehathawayannualmeeting #2026
Greg Abel replies to the question on who will Charlie to Greg.
If you like this video, please share and subscribe.
Subscribe now: @ / billionairephilosophy
Warren Edward Buffett is an American business billionaire tycoon, investor, and philanthropist. He is presently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors of all time with a net worth of over $100 billion, which would be even more counting the billions he already donated to various c...
About Gregory Abel
At the 2026 Berkshire Hathaway Annual Meeting, Vice Chairman Greg Abel addressed the company’s approach to energy demand from data centers and hyperscalers. He stated that these large users “have to bear their full cost” and that Berkshire will not transfer that burden to other customers. Abel noted that Berkshire Hathaway Energy already serves data centers representing 8% of peak load in Iowa, with potential to grow that by 50% over five years, while maintaining rates 45% below the national average. He described the “regulatory compact” as the key challenge, saying that inflation, retiring assets, and data center pressures are stressing the traditional utility model. Abel also warned that increased gas-fired generation to meet AI-driven demand would produce additional carbon emissions.
Transcript (6 segments)
B
Becky Quick0:00
This question comes from Joseph Matias and he said Warren had Charlie's partnership for most of his tenure as CEO, which naturally reduced the risk of subpar investment decisions. Who will serve as the Charlie for Greg?
G
Gregory Abel0:23
I'll never be able to develop another Charlie. And there's a reason why they're in the rafters together. That was an incredible partnership and one that you can't replicate. But what I would start with is that I'm very fortunate to still have Warren as our chairman, and that's very important and it makes for an excellent transition. We have an exceptional board of directors that I'm comfortable reaching out to any of them individually depending on the circumstances and either the risk we're dealing with or an opportunity that may be present in any of our businesses or one that may be coming our way. So, we're fortunate to have that exceptional group in place. And then it really comes back to our team that's in place. And I said this when I was answering Warren from Omaha that we want Berkshire to endure, and that means yes, I want to lead Berkshire and I'll be a strong leader. I strongly believe that and I'll take Berkshire for it. But it will be as you always need a single leader, and I think we strongly understand that. But you surround yourself with great people and they're already here. I've been fortunate on the non-insurance operation to operate with Adam's 32 and the 18 that I still get to interact with a lot. Those 50, including Adam and Katie, obviously have an exceptional working relationship with Ajit, and I'm fortunate with that and would seek counsel regularly. Even as vice chairmen, we would constantly have a conversation around he may be making an insurance decision or I was making a decision around one of our non-operating businesses, and the first thing we'd cross-check is how's it impact your group. So I have an amazing relationship and someone I immensely value the input. And then across our CEOs, we're so fortunate to have a great group that I would reach out to any of them on a specific circumstance and ask them for their input. And I generally know where they've dealt with a challenge or a significant opportunity, and I'd be the first to seek it out and say let's talk about it and figure out our path forward. And it may be that it was someone on their team that really dealt with it, and then I'd want to be talking to their team. So fortunately, because of Berkshire and the way we're created, again it is a unique structure, but we have an immense amount of resources around us. And then we have our team in Omaha who has supported Warren for all those years. They're remarkable folks. There's not a lot of them, but they are good and they're exceptional, and we're fortunate to have them as part of the team. So it will be such that Berkshire endures and will endure as a team, but clearly with leadership. So, thank you Becky, that last question.
B
Becky Quick3:49
Thank you. This question comes from Fred Irman in Richmond, Virginia, and it's addressed to you, Warren. He says that during the past several years, much has been written and many have speculated about your successor. I shall not even go down that path as it would cause you to repeat yourself. However, has there been any discussion at your board meetings about a replacement for your partner, longtime friend, and co-chairman, Charlie Munger? Has it been determined Berkshire will continue to be led by a similar dynamic duo? Two magnificent investor minds each providing a unique point of view have been a major reason the business has performed magnificently over the decades and has delighted the shareholders.
W
Warren Buffett4:32
Well, Charlie is my canary in the coal mine. Charlie turned 90 and I find it very encouraging how well he's handling middle age. So I hope to be able to do the same thing myself. No, and it's you raised a point which I've thought about but I'm a little sensitive now that you raised it. They always talk about replacing me but they never talk about replacing Charlie. I do think it's very likely incidentally that whoever replaces me as CEO probably has over the years certainly developed they'll never be able to develop another Charlie but they'll develop somebody that they work with very closely. It's a great way to operate. Berkshire is better off because the two of us have worked together than if either one of us had been working individually. There's no question about that. And but I do think you know we saw it with Roberto and Don Keough at KO. We saw it with Tom Murphy and Dan Burke at Cap Cities. I mean these were magnificent companies. And I think that in both cases that I just named, I think that they accomplished far more because they had two incredible people running them who admired and worked well with the other and they were complementary in terms of the talents they brought in many ways. It's a great way to operate. You can't will it to somebody. But I would be very surprised if a few years after my successor takes over or maybe sooner that there isn't some relationship of partnership that enhances the CEO's not only achievements but the fun they have. But so far nobody's brought up in the meeting any successor to Charlie, and frankly I have a lot of trouble thinking of anybody that could be a successor to Charlie. Charlie, do you want to come? I got to give you a chance.
C
Charlie Munger7:04
I don't think the world has much to worry about. Most 90-year-old men are gone soon enough.
W
Warren Buffett7:13
The canary has spoken. Okay.