Unlocking Success: Insights from Berkshire Hathaway’s Future CEO Greg Abel

Katie Reilly is an Associate Editor specializing in Trading and Investing at ZAMONA, with over ten years of journalism experience. She holds a bachelor's degree in English and political science from the University of North Carolina at Chapel Hill, complemented by a minor in business journalism.

As Greg Abel prepares to step into the role of CEO at Berkshire Hathaway, he faces the challenge of following Warren Buffett’s legendary leadership. Buffett transformed Berkshire from a modest textile business into a $1.1 trillion powerhouse, setting a high bar for success.

Known for his low-profile leadership of Berkshire’s diverse non-insurance ventures, Abel recently shared his straightforward philosophy on what it takes to succeed during the company’s annual shareholders meeting.

Key Insights

• Abel emphasizes that dedication and a strong work ethic are fundamental to achieving success.
• Public opinion aligns with this view, with numerous surveys highlighting hard work as a primary driver of accomplishment.
• Much like Buffett, Abel’s journey began with humble origins, fostering his passion for business from a young age.

Abel’s Formula for Success

During the 2025 shareholder meeting, where Buffett announced his upcoming departure, a young attendee from Hong Kong asked Abel what it takes to earn a position under his leadership. Abel’s response was clear and motivating.

“Hard work is essential,” Abel stated. “It’s the foundation that carries us far in life. While many factors contribute to success, starting with a strong work ethic and a genuine desire to contribute will set you on the right path.”

He added, “When you commit to hard work, you discover what you truly love. We eagerly anticipate welcoming passionate individuals to Berkshire.”

Insight

Numerous studies back Abel’s perspective. For instance, a 2023 survey by the American Communities Project and Ipsos found that 68% of Americans believe "hard work and grit" are the top contributors to success. Another 2024 survey by Empower and Morning Consult revealed that 84% view hard work as more crucial than talent, connections, or luck.

From Humble Beginnings to Business Leadership

Abel’s approach reflects the modest values that Warren Buffett has long championed. Buffett famously still resides in his Omaha home, purchased in 1958 for $31,500 (equivalent to roughly $353,000 in 2025). Similarly, Abel’s background is grounded and relatable. Born in Canada and trained as an accountant, he graduated from the University of Alberta in 1984.

His entrepreneurial spirit sparked early. In a 2024 interview with the Calgary Herald, Abel recounted how he turned collecting discarded pop bottles for nickels into a small business, constantly optimizing his route to increase his earnings incrementally.

“I’d think, ‘How many bottles can I gather this week?’ I found better routes and aimed to improve my collection each time,” Abel shared.

Related Reads

Greg Abel’s Vision for Berkshire: Why Cash Remains King

The Successor to Buffett’s Unmatched Legacy and What Investors Are Watching

Is Hard Work the Whole Story?

Abel admits that while hard work improves the odds of success, it doesn’t guarantee it. “Through my education, sports, and career, I’ve learned that preparation combined with effort makes success more attainable,” he told the Horatio Alger Association.

This nuanced outlook acknowledges that even with dedication, external factors play a role. Buffett himself highlighted this at the 2025 meeting: “The luckiest moment in my life was being born in the United States, where only about 3% of global births occurred at the time.”

He also recognized societal advantages, noting, “I was fortunate to be born male and white,” underscoring the impact of systemic barriers.

Final Thoughts

As Warren Buffett passes the torch, Greg Abel’s grounded work ethic and pragmatic leadership promise continuity for Berkshire Hathaway. His core message is clear: persistent hard work greatly enhances your chances for success, even though it can’t guarantee it.

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