Trending Now - Berkshire Hathaway's Annual Meeting Marks New Era Without Buffett

WHO:

ABC News - Greg Abel is the new CEO of Berkshire Hathaway.

ABC News - Warren Buffett is the former CEO and current chairman of Berkshire Hathaway.

ABC News - Tim Cook is the CEO of Apple and attended the meeting.

ABC News - Charlie Munger was Buffett's longtime partner before his death in 2023.

WHAT:

CBS News - Berkshire Hathaway's first-quarter profit more than doubled.

ABC News - The profit reached $10.1 billion, or $7,027 per Class A share.

ABC News - Berkshire recorded a $5.8 billion gain on stocks sold.

ABC News - The value of Berkshire's investment portfolio slipped to just over $288 billion.

ABC News - Berkshire's cash pile grew to $397.4 billion at the end of the first quarter.

ABC News - The insurance unit reported an underwriting profit of $1.7 billion, up from $1.34 billion the previous year.

ABC News - Attendance at the annual meeting was significantly down, with the arena only a little over half full.

WHERE:

ABC News - The annual meeting took place in Omaha, Nebraska.

WHEN:

ABC News - The first annual meeting without Warren Buffett was held on a Saturday.

WHY:

ABC News - The meeting marked a transition in leadership following Buffett's decision to step down as CEO in January.

HOW:

ABC News - The meeting began with a video tribute to Buffett, featuring clips from the previous 60 years of annual meetings.

ABC News - Abel announced the retirement of jerseys with Buffett's and Munger's names to hang in the rafters of the arena.

ABC News - Abel has been with Berkshire for over 25 years and managed non-insurance businesses for nearly eight years before his promotion.

(UPDATED May 2, 2026 17:13 UTC)

Greg Abel has officially taken over as CEO of Berkshire Hathaway, marking a significant leadership transition following Warren Buffett's decision to step down in January. At the annual meeting held in Omaha, Nebraska, Berkshire reported a remarkable first-quarter profit of $10.1 billion, which translates to $7,027 per Class A share, while the company's cash reserves grew to $397.4 billion. The meeting, which was notably the first without Buffett, featured a video tribute to him and announced the retirement of jerseys honoring both Buffett and Charlie Munger, who was Buffett's longtime partner before his death in 2023.