Breaking News:Warren Buffett says ‘I’d rather have Greg Abel handling my money’ as Berkshire Hathaway begins new era– What Just Happened

Billionaire Warren Buffett said Berkshire Hathaway is stronger than any other company to weather the long run, following the handover of leadership to Greg Abel after six decades under the famed “Oracle of Omaha.”

Buffett noted that he would prefer Abel to manage his own money, according to CNBC.

Here’s what Warren Buffett said about Greg Abel—

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

Buffett added, Greg will be the decider,” Buffett said. I “can’t imagine how much more he can get accomplished in a week than I can in a month….I’d rather have Greg handling my money than any of the top investment advisors or any of the top CEOs in the United States.”

Meanwhile, Berkshire Hathaway entered a new chapter after Warren Buffett’s departure on Friday (local time), as the company’s shares edged down modestly.

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

Buffett formally stepped down as CEO on Thursday, bringing to a close a six-decade tenure that transformed a failing textile firm into a trillion-dollar conglomerate spanning businesses with more than $300 billion in cash on its balance sheet.

“It’s hard to imagine that there will be the same cult following,” said Brian Jacobsen, chief economic strategist at Annex Wealth Management, Reuters reported.

Known for a long-term strategy and a focus on buying high-quality businesses at reasonable prices, Warren Buffett delivered steady gains that outpaced broader markets and made him a trusted steward of capital.

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

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

Despite trimming stakes in long-held investments such as Apple and Bank of America, Berkshire has accumulated an unprecedented cash reserve—an approach that has unsettled some shareholders. Abel, 63, will take charge of this enormous financial arsenal, with cash and equivalents totaling $381.7 billion as of September 30.

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

(With inputs from Reuters, CNBC)