Berkshire Hathaway’s (BRK.A / BRK.B) CEO Greg Abel has become a U.S. citizen.
Abel is originally from Canada. He was born and raised in Edmonton, Alberta and is a graduate of the University of Alberta.
However, Abel has been a longtime Iowa resident and said he planned to become an American citizen after assuming the CEO role at Berkshire on Jan. 1 of this year.
Abel was among two dozen people from 16 countries who participated in an annual naturalization ceremony hosted by the Iowa Cubs AAA baseball team in Des Moines.
Now age 64, Abel has an estimated net worth of $1 billion U.S. and runs Berkshire Hathaway, which has a market capitalization of $1.07 trillion U.S.
It was the 18th annual naturalization ceremony organized by the Iowa Cubs, which is the farm team of the Chicago Cubs baseball team, and Abel threw out the first pitch at the game.
Since taking over Berkshire Hathaway from legendary investor Warren Buffett, Abel has come under pressure to grow the business and put the company’s $400 billion U.S. cash pile to work.
Berkshire recently announced that it is buying homebuilder Taylor Morrison Home Corp. (TMHC) for $6.8 billion U.S. in cash.
Under Abel’s direction, Berkshire Hathaway has also built a $23 billion U.S. stake in the stock of Google parent company Alphabet (GOOGL).
Berkshire’s more affordable Class B stock has risen 3% in the last 12 months to trade at $498.66 U.S. per share.
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