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For years, people had pressed hedge fund mogul Warren Buffett on who would take over Berkshire Hathaway as he geared up to step down. Rumors swirled, but 63-year-old veteran businessman Greg Abel was ultimately named his successor in 2025. The boomer billionaire has now assumed the throne of the $1 trillion company—but his journey to one of the most coveted roles in business began with working-class entrepreneurship.

Abel got his first taste of business at a young age, collecting, cleaning, and redeeming empty soda bottles for just 5 cents a piece.

To make the most out of his money-making venture, he would even optimize his bike rides home from school to snatch up as many as possible. According to reporting from fellow Fortune reporter Shawn Tully, a young Abel would collect up to five empty bottles every trip—and when the weekend came, he’d have 20 of them stored up, amounting to a whopping $1. 

On the side, Abel also held down a job riding his bike around his hometown of Edmonton, Canada, dispersing advertising fliers around neighborhoods for just a quarter of a cent for every delivery. 

His career climb to Berkshire Hathaway CEO may have never happened if his ex-employer didn’t get bought out 

Abel continued to do various odd jobs, including filling fire extinguishers for his father’s employer, throughout high school. But his first taste of corporate work came after graduating from University of Alberta in 1984. 

Abel took a job at PwC, and after uprooting from his hometown to the company’s San Francisco office, began working with geothermal business CalEnergy as a client. It wasn’t long until Abel made the jump from the consulting giant to CalEnergy as an auditor, building the company to a global holding firm with tens of thousands of employees, according to educational nonprofit Horatio Alger Association. From 1992 to 2008, he served as a senior executive before rising to CEO and chairman. But it was in between then that Abel had a big break, pulling him into the orbit of Berkshire Hathaway.

The career-defining moment happened in October 1999, when Berkshire announced that it was buying a controlling interest in CalEnergy (which was renamed to MidAmerican after an acquisition). The business was transformed into Berkshire Hathaway Energy, and after serving as CEO and executive chairman of the company from 2008 to 2018, Abel was also appointed to the vice chairman of Berkshire Hathaway’s non-insurance operations. In the years since, Abel has proven himself as a worthy successor to Buffett, who has helmed the trillion-dollar giant for six decades. 

“Greg Abel has more than met the high expectations I had for him when I first thought he should be Berkshire’s next CEO,” Buffett wrote in his final shareholder letter last year. “He understands many of our businesses and personnel far better than I now do, and he is a very fast learner about matters many CEOs don’t even consider.”

Abel’s billion-dollar success, and why little of his fortune is currently wrapped up in Berkshire stock

Berkshire Hathaway’s new baby boomer CEO is a bonafide billionaire—but unlike the legendary hedge fund mogul he’s succeeding, little of his riches came from stock in the $1 trillion company.

Abel has a net worth of around $1 billion, according to Bloomberg, yet only 18% of his fortune is currently wrapped up in Berkshire Hathaway shares. Abel’s relatively smaller monetary tie to the company pales in comparison to other chief executives like Apple’s Tim Cook, whose stake in the company accounts for 38% of his net worth. And the new CEO’s Berkshire holdings are only one-thousandth as valuable as Buffett’s stake in the business. 

That’s because according to Bloomberg most of Abel’s wealth stems from the profits of a 2022 stock buyback, when Berkshire purchased Abel’s $870 million stake in the subsidiary he once ran: Berkshire Hathaway Energy. That left Abel with an estimated $175 million worth of stock in the holding company.

Additionally, Abel earned a $20 million compensation package after being promoted to a vice chairman role at Berkshire in 2018.



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Iran threatens U.S. and Israel as protests enter third week

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Tehran warned the US and Israel against any intervention over nationwide protests in Iran while it sought to placate its citizens, as demonstrations entered their third week and fatalities mounted. 

Saturday marked the third night of intensified nationwide demonstrations, following calls by Reza Pahlavi, the exiled son of Iran’s former shah, to seize city centers and stage strikes. Since the unrests first began on Dec. 28, Donald Trump has repeatedly warned the Iranian regime not to fire on demonstrators, with the US president receiving a briefing in recent days on new options for military strikes.

The Oslo-based Iran Human Rights group said on Sunday it had confirmed the deaths of at least 192 protesters, including nine individuals under 18. Separately, the US-based Human Rights Activists News Agency said deaths linked to the recent unrest had reached 116, with most killed by live ammunition or pellet gunfire. 

On Sunday, Iran’s President Masoud Pezeshkian struck a conciliatory tone in a state TV interview, offering condolences to families affected by the “tragic consequences” of the unrest.

“Your protests must be heard, and we must address your concerns. Let’s sit down together, hand in hand, and solve the problems,” he said, without offering details on how that would be done. “I promise the dear people, perhaps ninety percent of whom have concerns, that we will address their worries. We will get through this crisis.”

Still, Pezeshkian accused the US and Israel of bringing in “terrorists from abroad,” whom he claimed had set mosques and markets on fire, “beheaded some, and burned others alive.” Other officials took an even harder line. 

“In the event of a US military attack, both the occupied territories and US military and shipping centers will be legitimate targets for us,” Iran Parliament Speaker Mohammad Bagher Ghalibaf said in remarks broadcast on state television earlier on Sunday. 

He reiterated a warning that Iran could act preemptively against potential threats. “Within the framework of legitimate self-defense, we do not limit ourselves to responding only after an attack,” he said.

Trump has been briefed in recent days on a range of options for military strikes in Iran, including nonmilitary sites, a White House official said, confirming an earlier New York Times report. The US president is seriously considering authorizing an attack, according to the official.

Israel’s Army Radio reported Sunday that the country’s security establishment views it as unlikely that Iran will attack Israel at this stage. “No such immediate willingness is identified in Israel — but rather an Iranian focus on internal matters,” it said, citing unidentified defense officials. 

Footage from Iranian cities suggests that hundreds of thousands, including many elderly, are defying stern warnings from authorities to stay off the streets, despite a nationwide internet blackout and severe telecommunications restrictions that have blocked calls and text messages since Thursday.

The NetBlocks internet‑monitoring group said in a posting on X early Sunday that internet connectivity in Iran “continues to flatline around 1% of ordinary levels.”

Still, multiple social media videos, reportedly from a warehouse in southern Tehran, show people searching through dozens of corpses in body bags, lined up on the ground and on stretchers. Wailing can be heard as individuals bend over the bags, trying to identify their loved ones.

A video published later on Sunday by the state-run IRIB News appeared to show scenes from the same warehouse — one of the first glimpses by official media into the scale of the fatalities. In the video, a reporter described the site as a complex of the state forensic organization in Tehran, with dozens of bodies inside a large indoor facility. Outside, dozens of people are seen huddling around ambulances and the back of what appears to be a refrigerated truck, searching for their relatives.

Protests erupted last month among pockets of traders in Tehran over worsening economic and living conditions but have since grown into the largest anti-regime demonstrations to grip the country since 2022, when the death in custody of Mahsa Amini triggered nationwide anger and mass protests.

Read more: How Sanctions and a Currency Crash Fueled Iran Unrest: QuickTake

Other videos, reportedly from west of Tehran on Saturday night, show thousands of protesters packed into the streets, waving phone flashlights in the dark as city lights remain shut down, amid whistles and chants of “Death to the dictator.” A truck was seen on fire in Mashhad, while footage purportedly from Sunday shows a state tax administration building burned out overnight in eastern Tehran. Bloomberg couldn’t independently verify any of the footage. 

In an X post on Sunday, Pahlavi urged protesters to continue their demonstrations through the weekend. He described Trump as “the leader of the free world” who is observing the unrest and “is ready to help you.”

Late on Saturday, Iran’s Foreign Minister Abbas Araghchi accused the US and Israel of fueling violent unrest and warned against any action directed at Tehran.

“The only ‘delusional’ aspect of the current situation is the belief that arson does not ultimately burn the arsonists,” Araghchi said.

Alongside those killed, another 2,638 people had been detained, the Human Rights Activists organization said. Some of those killed included medical personnel, and seven of the victims were under 18, it added.

Iran’s prosecutor general warned on Saturday of swift trials and death penalty charges against detainees, a day after Supreme Leader Ayatollah Ali Khamenei said the security apparatus won’t tolerate “vandalism” or “people acting as mercenaries for foreign powers.”



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Florida man who grabbed Nancy Pelosi’s podium during Capitol riot runs for county office

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A man who grabbed then-House Speaker Nancy Pelosi’s podium and posed with it for photographs during the U.S. Capitol riot is running for county office in Florida.

Adam Johnson filed to run as a Republican for an at-large seat on the Manatee County Commission on Tuesday. That was the fifth anniversary of the Jan. 6 riot, where he was photographed smiling and waving as he carried Pelosi’s podium after the pro-Trump mob’s attack on Jan. 6, 2021.

Johnson told WWSB-TV that it was “not a coincidence” that he filed for office on Jan. 6, saying “it’s definitely good for getting the buzz out there.” His campaign logo is an outline of the viral photograph of him carrying the podium.

He’s far from the first person implicated in the Jan. 6 riot to run for office. At least three ran unsuccessfully for Congress in 2024 as Republicans. And there are signs that the Republican Party is welcoming back more people who were convicted of Jan. 6 offenses after Trump pardoned them.

Jake Lang, who was charged with assaulting an officer, civil disorder and other crimes before he was pardoned, recently announced he is running for Secretary of State Marco Rubio’s vacant U.S. Senate seat in Florida.

Johnson placed the podium in the center of the Capitol Rotunda, posed for pictures and pretended to make a speech, prosecutors said. He pleaded guilty in 2021 of entering and remaining in a restricted building or ground, a misdemeanor that he equated to “jaywalking” in the interview.

“I think I exercised my First Amendment right to speak and protest,” Johnson said.

After driving home, Johnson bragged that he “broke the internet” and was “finally famous,” prosecutors said.

Johnson served 75 days in prison followed by one year of supervised release. The judge also ordered Johnson to pay a $5,000 fine and perform 200 hours of community service.

Johnson told U.S. District Judge Reggie Walton at sentencing that posing with Pelosi’s podium was a “very stupid idea” but now says he only regrets his action because of the prison sentence.

“I walked into a building, I took a picture with a piece of furniture, and I left,” he now says.

Four other Republicans have filed to run so far in the Aug. 18 primary in what’s a deeply Republican county. The incumbent isn’t seeking reelection.

In March 2025, Johnson filed a lawsuit against Manatee County and six of its commissioners, objecting to the county’s decision not to seek attorney’s fees from someone who sued the county and dropped the lawsuit. The county has called Johnson’s claims “completely meritless and unsupported by law.”

Johnson said he objects to high property taxes and overdevelopment in the county south of Tampa, claiming current county leaders are wasteful.

“I will be more heavily scrutinized than any other candidate who is running in this race,” Johnson said. “This is a positive and a good takeaway for every single citizen, because for once in our life, we will know our local politicians who are doing things.”



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‘We don’t want to be Americans, we don’t want to be Danes, we want to be Greenlanders’: Local politicians reject Trump

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Greenland’s party leaders have rejected President Donald Trump’s repeated calls for the U.S. to take control of the island, saying that Greenland’s future must be decided by its people.

“We don’t want to be Americans, we don’t want to be Danes, we want to be Greenlanders,” Greenland Prime Minister Jens-Frederik Nielsen and four party leaders said in a statement Friday night.

Trump said again on Friday that he would like to make a deal to acquire Greenland, a semiautonomous region that’s part of NATO ally Denmark, “the easy way.” He said that if the U.S. doesn’t own it, then Russia or China will take it over, and the U.S. does not want them as neighbors.

“If we don’t do it the easy way, we’re going to do it the hard way,” Trump said, without explaining what that entailed. The White House said it is considering a range of options, including using military force, to acquire the island.

Greenland’s party leaders reiterated that “Greenland’s future must be decided by the Greenlandic people.”

“As Greenlandic party leaders, we would like to emphasize once again our wish that the United States’ contempt for our country ends,” the statement said.

Officials from Denmark, Greenland and the United States met Thursday in Washington and will meet again next week to discuss the renewed push by the White House for the control of the island.

Danish Prime Minister Mette Frederiksen has warned that an American takeover of Greenland would mark the end of NATO.

The party leaders’ statement said that “the work on Greenland’s future takes place in dialogue with the Greenlandic people and is prepared on the basis of international laws.”

“No other country can interfere in this,” they said. “We must decide the future of our country ourselves, without pressure for quick decision, delay or interference from other countries.”

The statement was signed by Nielsen, Pele Broberg, Múte B. Egede, Aleqa Hammond and Aqqalu C. Jerimiassen.

While Greenland is the largest island in the world, it has a population of around 57,000 and doesn’t have its own military. Defense is provided by Denmark, whose military is dwarfed by that of the U.S.

It’s unclear how the remaining NATO members would respond if the U.S. decided to forcibly take control of the island or if they would come to Denmark’s aid.

This story was originally featured on Fortune.com



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