With the legendary Warren Buffett stepping back, Berkshire Hathaway enters a new era

OMAHA, Neb. (AP) — Greg Abel faces the challenge of taking over Berkshire Hathaway from the legendary Warren Buffettthis week.

Many regard Buffett as the world’s greatest investor after he grew Berkshire from a struggling New England textile mill that he starting buying up for $7.60 a share in 1962, to the massive conglomerate it is today with shares that go for more than $750,000 a pop. Buffett’s personal fortune of Berkshire stock is worth roughly $150 billion even after giving more than $60 billion away over the past 20 years.