Berkshire Hathaway is one of the world’s most iconic investment companies and has been led by billionaire investor Warren Buffett since the 1960s. Buffett’s prowess over the years has seen the firm’s market capitalization surge to nearly $700 billion, making it one of the most valuable companies in the world. Its class A stock (BRK.A) is renowned as one of the most expensive investments on the market.

Berkshire Hathaway’s impressive portfolio consists of a variety of renowned private businesses and solid minority stakes in major public companies such as Apple. It also has stakes in numerous publicly traded companies, including American Express, Bank of America, and Coca-Cola (among many others). Buffett himself has been the company’s leader and Chairman of the Board for the past fifty-plus years and remains an active investor to this day.

Behind Buffett, Greg Abel has been named as the heir apparent to the CEO position. Abel is currently the company’s Vice Chairman of Non-Insurance businesses and has been with the firm since 1992, although Buffett has yet to announce any plans to step down. In the past, Buffett has said that “Berkshire will always be in capable hands” and with Abel’s impressive credentials and track record with the firm, it’s clear to see why he is considered the heir apparent.

Berkshire Hathaway is a behemoth in the investment world, and its iconic CEO continues to build an enviable reputation of rock-solid investments that have seen the company surge in market value over the years. With a new leader in Buffet’s impending retirement, it’ll no doubt be fascinating to see how the company evolves over the coming years and whether shareholders will continue to reap the rewards.