In the USA, they named the successor of one of the richest people in the world

Businessman Greg Abel will replace Warren Buffett as CEO of investment holding company Berkshire Hathaway. The board of directors unanimously voted for his candidacy, Reuters reports.

It is noted that Abel will take the place of the fund's founder and legendary investor Buffett from January 1, 2026.

The decision was made on Monday, May 5, and it did not come as a surprise to Buffett. Previously, the billionaire himself announced plans to step down as CEO by the end of the year and named Abel, who served as vice chairman of the board for non-insurance operations, as his successor.

The 94-year-old Buffett himself will remain as chairman of the board of directors of Berkshire Hathaway. According to Forbes, he is one of the richest people in the world. As of May 5, 2025, his fortune is estimated at $159.6 billion.

In 2024, Forbes named the richest heir in the world. According to the publication, it was 66-year-old Indian businessman Mukesh Ambani, whose empire spans the oil and gas, telecommunications industries, as well as retail. The entrepreneur's fortune is estimated at $116 billion.

Mukesh and his brother Anil inherited money from their father in 2002. However, later the brother dropped out of the ranking of the world's richest heirs due to the bankruptcy of his companies.