Most investors recognize Berkshire Hathaway, the conglomerate led by Warren Buffett, known for its diverse array of businesses and investments, including a railroad, utility companies, extensive insurance operations like Geico, and even Dairy Queen. The company’s stock portfolio features significant holdings in major corporations such as Apple, Bank of America, Coca-Cola, and Chevron.

While Buffett’s investment philosophy is well-documented, other executives at Berkshire are less in the spotlight. Following the passing of Buffett’s longtime partner and vice chairman Charlie Munger last November, focus has shifted to who will succeed Buffett as CEO.

Here’s an overview of Berkshire Hathaway’s key corporate leaders, including the individual likely to take over as CEO when Buffett steps down.

Top leaders at Warren Buffett’s Berkshire Hathaway

Warren Buffett (Chairman and CEO)

Buffett is regarded as one of the greatest investors of all time, transforming Berkshire Hathaway from a struggling textile company in the 1960s into the financial giant it is today by reallocating its cash flow to the best investment opportunities.

Throughout his career, Buffett has focused on identifying businesses that generate solid returns on capital while being undervalued. He took control of Berkshire in 1965 and has led the company ever since. As of June 2024, his net worth is estimated at approximately $135 billion, making him the 10th richest person in the world, according to Bloomberg.

Greg Abel (Vice-chair, non-insurance operations and likely successor to Buffett)

Greg Abel joined Berkshire Hathaway as part of its acquisition of a stake in MidAmerican Energy, now known as Berkshire Hathaway Energy, in 1999. He served as CEO of BHE from 2008 to 2018 and has consistently received praise from Buffett, who first acknowledged Abel in his 2002 letter to shareholders, describing him as a “huge asset for Berkshire.”

In 2018, Abel was appointed vice chair of non-insurance operations at Berkshire, leading many to speculate about his potential succession as CEO. During the company’s 2021 annual meeting, Munger inadvertently revealed Abel as Buffett’s successor. In 2024, Buffett indicated that he believes Abel should handle investment decisions once he assumes the CEO role.

Ajit Jain (Vice-chair, insurance operations)

Ajit Jain joined Berkshire Hathaway in 1985 and has transformed the insurance division into a powerhouse. He specializes in underwriting unique risks, which have generated billions in premiums for the company. In 2018, Jain was named vice chair of the insurance businesses and also serves on Berkshire’s board of directors.

Buffett has frequently commended Jain’s skills, even suggesting that Jain holds greater importance to Berkshire than he does himself. “If Charlie, I, and Ajit are ever in a sinking boat — and you can only save one of us — swim to Ajit,” Buffett wrote in his 2009 letter to shareholders.

Todd Combs (Investment officer and CEO of Geico)

Todd Combs joined Berkshire Hathaway as an investment manager in 2010, following the retirement of Lou Simpson, who had overseen Geico’s investments for many years. Before joining Berkshire, Combs managed a hedge fund for five years and gained experience at Progressive Insurance and the State of Florida Banking, Securities and Finance Division. In 2020, he became the CEO of Geico and also serves on the board of JP Morgan Chase.

Combs moved to Omaha, where Berkshire is headquartered, and frequently meets with Buffett to discuss business matters. Buffett was introduced to Combs by Charlie Munger, who had an impromptu meeting with him and felt he would be a great fit for the company.

Ted Weschler (Investment officer)

The second investment manager Buffett has brought on board in recent years is Ted Weschler, who joined Berkshire Hathaway in 2012 after spending around 11 years running a hedge fund from an office above a bookstore in Charlottesville, Virginia. Weschler first met Buffett through an online charity auction, where he paid approximately $2.6 million for lunch with Buffett two consecutive years.

In 2021, ProPublica conducted an investigation into Roth IRAs, revealing that Weschler had grown his account from about $70,000 at the end of 1989 to an impressive $264.4 million by the end of 2018. Weschler stated that these gains were achieved exclusively through publicly traded securities, including stocks and bonds.