Greg Abel, Warren Buffett’s appointed successor, has just significantly increased his stake in Berkshire Hathaway. Abel, Berkshire’s vice president of non-insurance operations, established a $68 million position in Berkshire Class A stock on Thursday at between $405,000 and $408,000 per share, a legal records show. The price range represents a 25% discount from Berkshire’s all-time high of $544,389 reached in March. Cathy Seifert, a Berkshire analyst at CFRA Research, said: represents a change as he prepares to take on more responsibilities. “Not all shipments were sent out from Berkshire, but I think this represents a key point.” Abel became Buffett’s heir apparent several years after “The Prophet of Omaha” and his longtime business partner Charlie Munger hinted at his eventual role in the corporation at meetings. recent annual shareholders. Up to this point, however, Abel, who runs Berkshire’s massive energy empire, has not been a major shareholder. An authorization filing in March showed he owned five A shares and 2,363 B shares, worth less than $3 million. Meanwhile, Abel’s compensation over five years, including 2022, will likely be closer to $95 million, according to company filings. “This is an important first step for Mr. Abel to demonstrate his long-term commitment to BRK, as well as his commitment to shareholders,” said James Shanahan, Berkshire analyst at Edward Jones. Abel recently sold his 1% stake in the company’s Berkshire Hathaway Energy unit for $870 million. This move led some to believe that he had the opportunity and the capital to further increase his stake in Berkshire. Buffett, 92, has been increasing Berkshire’s exposure to the energy sector, increasing his stakes in Chevron and Occidental Petroleum. Some Buffett followers see the moves as paving the way for a successor to Abel, who led the energy unit of Berkshire Hathaway Energy. Berkshire acquired MidAmerican Energy in 1999, and Abel became CEO of MidAmerican Energy in 2008, six years before it was renamed Berkshire Hathaway Energy in 2014.