Warren Buffett says ‘I’d rather have Greg Abel handling my money’ as Berkshire Hathaway begins new era

Billionaire Warren Buffett said Berkshire Hathaway is stronger than other companies in the long run after six decades under the famed “Oracle of Omaha” handed over leadership to Greg Abel.

According to CNBC, Buffett stated that he would prefer Abel to manage his own money.

Here’s what Warren Buffett said about Greg Abel:

“It has a better chance of being here 100 years from now than any other company I can think of,” Buffett told CNBC on Friday.

“Greg will be the decision maker,” Buffett added. “I can’t imagine how much more he can accomplish in a week than I can in a month…. I’d rather have Greg manage my money than any of the best investment advisors or any of the best CEOs in the United States.”

Meanwhile, Berkshire Hathaway entered a new chapter with the company’s shares experiencing a modest decline following Warren Buffett’s departure on Friday (local time).

The conglomerate faces the challenge of continuing its legacy without the visionary who reshaped modern investing and transformed Berkshire from a floundering textile firm into a $1 trillion investment powerhouse, according to a report by Reuters.

Buffett officially stepped down as CEO on Thursday, ending a six-decade tenure that transformed a failing textile company into a trillion-dollar conglomerate with more than $300 billion in cash on its balance sheet.

“It’s hard to imagine it will have the same cult following,” said Brian Jacobsen, chief economic strategist at Annex Wealth Management, according to Reuters.

Known for a long-term strategy and focus on buying high-quality businesses at reasonable prices, Warren Buffett has produced consistent returns that have outperformed the broader markets, making him a reliable steward of capital.

Greg Abel, Warren Buffett’s longtime lieutenant, is stepping into leadership at a sensitive moment for Berkshire Hathaway.

The conglomerate has lagged the S&P 500 in 2025, according to Reuters, and Buffett has acknowledged the growing difficulty of identifying acquisitions large enough to significantly impact the company’s broad scale.

Despite declining stakes in long-held investments like Apple and Bank of America, Berkshire has accumulated unprecedented cash reserves; It’s an approach that makes some shareholders uncomfortable. Abel, 63, will take charge of this massive financial arsenal, totaling $381.7 billion in cash and equivalents as of September 30.

Although leadership transitions often bring uncertainty, analysts note that Buffett has carefully laid the groundwork for a smooth transition, even though his identity is closely intertwined with the firm. Abel has been part of Berkshire since 2000, joining after its acquisition of MidAmerican Energy, now Berkshire Hathaway Energy.

(With input from Reuters and CNBC)