He described his Edmonton neighborhood in Alberta, Canada, as working-class and family-oriented. He lives in Iowa with his family.

Warren Buffett said it would be the "dumbest thing in the world" to consistently deploy $50 billion a year as great buying opportunities are rare.

Abel was named vice chairman of Berkshire Hathaway in 2018. Although he has been at the company for more than two decades, he is considered to be much more guarded and hands-on than Buffett.