Warren Buffett in Berkshire Hathaway AGM Highlights: Warren Buffett, one of the world’s most renowned investors, announced Saturday that he plans to step down as CEO of Berkshire Hathaway at the end of the year. The 94-year-old business magnate has led the conglomerate for six decades.
Despite previous assertions that he would work until death or incapacitation due to his love for investing, Buffett told thousands of shareholders that the time has come for a transition. He confirmed he will recommend Greg Abel, currently Vice Chairman, as his successor.
“I think the time has arrived where Greg should become the Chief Executive Officer of the company at year end,” Buffett said. “I want to spring that on the directors effectively, and then get that as my recommendation … I think they’ll be unanimously in favor of it.”
Buffett made the announcement at the close of a five-hour Q&A session at the company’s annual shareholder meeting. He took no follow-up questions about the decision. Although he still appears in good health, Buffett now uses a cane.
Berkshire Hathaway AGM Live: Buffett to Stay Invested in Berkshire Amid Leadership Transition
Warren Buffett confirmed that he has no intention of selling any of his Berkshire Hathaway shares during the ongoing leadership transition. Buffett, who has been the CEO since 1970, reaffirmed his long-term commitment to the company. Berkshire Hathaway, now a conglomerate, originally got its name from a textile mill Buffett’s investment partnership acquired back in 1965.
Berkshire Hathaway Vice Chairman Ajit Jain stated that Geico, the conglomerate’s auto insurance arm, has made major advancements by using technology to more accurately price insurance policies based on customer risk profiles. While speaking during Berkshire's annual shareholder meeting, he said that Geico has made ''rapid strides in telematics,'' placing it on par with top industry players, as per a report Reuters.
Telematics uses date from vehicles like GPS and vehicle sensors to analysis driving behaviour and make insurance premiums based on that inputs.
Berkshire Hathaway AGM Live: Buffett backs Japanese Trading houses, says Berkshire may hold stakes forever
Warren Buffett has expressed strong backing for the five major Japanese trading firms in which Berkshire Hathaway holds major stakes, stating the company sees no reason to sell them even decades from now.
While addressing shareholders at Berkshire Hathaway’s annual meeting in Omaha, Nebraska, Buffett hailed Mitsubishi, Mitsui, Itochu, Sumitomo and Marubeni after the firm boosted its holdings in each to nearly 9.8%. As of the end of 2024, Berkshire’s total investment in these firms was at at $23.5 billion.
“We have had excellent relations with all five,” Buffett said. “Over the next 50 years, we are unlikely to even consider selling them. Mostly, we just sit back and applaud their performance,'' as quoted by Reuters
Berkshire Hathaway AGM Live: Crowd gives standing ovation to the legendary investor
Even as Warren Buffett prepares to hand over the reins of Berkshire Hathaway, his trademark wit remains sharp. Announcing that he will formally recommend Vice Chairman Greg Abel as CEO by the end of the year, Buffett drew a standing ovation from shareholders and Abel alike. But never one to miss a comedic beat, the 94-year-old investing icon quickly added, “The enthusiasm shown by that response can be interpreted two ways,” prompting laughter from the crowd.
Berkshire Hathaway AGM Live: Buffett exits
"I think ... the time has arrived where Greg should become the chief executive officer of the company at year end," Buffett says.
He will notify the company's 11 directors at the board meeting.
At year-end, "Greg would be the chief executive officer of Berkshire. I would still hang around and be useful in a few cases, but the final word would be what Greg said." "I have no intention, zero, of selling one share of Berkshire Hathaway. It will get given away," he says.
The crowd is clapping and cheering.
(via Reuters)
Berkshire Hathaway AGM Live: Warren Buffett says Greg Abel will take over at year-end
Vice Chairman Greg Abel is taking over at year end, Buffett says.
Berkshire Hathaway AGM Live: Buffett warns US fiscal deficit 'unsustainable over a long period'
Warren Buffett sounded a warning over the United States’ growing fiscal deficit, calling it a problem that is “never fully solved”.
“We are operating at a fiscal deficit now that is unsustainable over a very long period,” Buffett said, adding that while the timeline is uncertain, such a trend cannot continue indefinitely. “There’s never been a country like the United States, but this can’t go on forever.”
While not directly commenting on the Department of Government Efficiency (DOGE), Buffett acknowledged that cutting the deficit is both difficult and essential. “It’s a job I don’t want, but it’s a job I think should be done and Congress does not seem to be doing it,” he said.
Berkshire Hathaway AGM Live: Berkshire Hathaway’s limited-edition book sold out
Berkshire Hathaway’s limited-edition book commemorating six decades under Warren Buffett has officially sold out, the 94-year-old CEO announced.
Buffett told attendees at AGM that he had received word that all copies of the special 60th anniversary publication, available at the on-site bookstore, had been purchased. The book was the only item on sale at the store.
Demand for the keepsake was strong from the outset. Buffett noted earlier in the day that roughly 4,400 copies had been sold just on Friday. Berkshire had initially planned to print 5,000 copies but raised the number to 8,000 in response to expected demand.
In a gesture characteristic of Buffett’s philanthropic spirit, the company is auctioning off a limited number of signed copies, with proceeds going to charity.
Berkshire Hathaway AGM Live: Berkshire won't do 'stupid' things with investor's money
Warren Buffett offered a candid assurance to shareholders, vowing that the company would never risk their capital on “stupid” ventures. “If we ever do, you ought to get rid of us,” he said, drawing laughter and applause. Buffett cautioned that it’s far easier to make reckless decisions with other people’s money, a tendency he sees often in governments, but assured that Berkshire remains firmly committed to discipline and responsibility in private enterprise.
Berkshire Hathaway AGM Live: Why is looking at balance sheets important for Buffett before investing?
Warren Buffett explained why he thinks that looking at the balance sheet before investing in a company is important.
“I spend more time looking at balance sheets than I do income statements. And Wall Street really doesn’t pay much attention to balance sheets, but I like to look at the balance sheets over an 8 or 10-year period before I even look at the income account because there’s certain things that are harder to hide or play games with on the balance sheet,” Buffett said.
Berkshire Hathaway AGM Live: Greg Abel on capital allocation
Greg Abel, Buffett's successor, was asked about his views about capital allocation.
"We will have a fortress of a balance sheet...it's an enormous asset to have that," he says. "Yes when we can deploy it, we will deploy it well, but we do recognize it as a strategic asset."
"We will remain Berkshire and we will never be dependent on a bank or some other party for Berkshire to be successful."
The company will continue to rely on managers to evaluate risk and its companies to generate cash flow, he says.
"We'll really continue to move forward with a very similar philosophy, its an identical philosophy," he says, looking strategically for investments at the right time.
(via Reuters)
Berkshire Hathaway AGM Live: Buffett back on stage
After a short lunch break, Warren Buffett is back on the stage to kick off the afternoon Q&A session at Berkshire Hathaway’s annual meeting.
But before diving into shareholder questions, he offered a quick personal recommendation — the documentary "Becoming Katharine Graham", which chronicles the life of the legendary Washington Post publisher. Buffett, who appears in the film’s trailer, gave it a nod as a must-watch.
Berkshire Hathaway AGM Live: What happened so far?
Warren Buffett issued a warning against the rising use of tariffs as economic weapons, urging the US to embrace trade policies that foster global prosperity. Speaking at Berkshire Hathaway’s annual meeting, the 94-year-old investment icon stressed that “balanced trade is good for the world” and that “trade should not be a weapon”.
Buffett’s comments come amid growing concerns over protectionist policies, particularly those pushed by US President Donald Trump.
The meeting followed Berkshire’s first-quarter earnings release, which revealed a record cash pile of $347.7 billion — up from $334.2 billion at the end of 2024 — reflecting the company’s continued cautious stance. Operating profit dropped 14% to $9.64 billion, partly due to insurance losses from California wildfires, while net income fell 64% to $4.6 billion amid unrealized losses on holdings like Apple.
Berkshire has now gone three quarters without repurchasing stock and has been a net seller of equities for 10 consecutive quarters.
Buffett and his Vice Chairmen also spoke about and took questions on several subjects including Artificial Intelligence, motor insurance and Japanese trading houses.
Berkshire Hathaway AGM Live: Buffett's career advice
Warren Buffett took a step away from market talk to share timeless career advice, particularly in the context of Berkshire Hathaway’s leadership transition to Greg Abel. When asked about Abel’s role, Buffett pivoted to a broader message: the importance of doing work you genuinely enjoy.
“You really want to work at something you enjoy,” he said, urging young professionals to prioritise passion over paychecks. He warned that workplace habits are contagious, so choosing the right environment—and the right people to work with—is critical. “Be careful about who you work for,” Buffett advised, adding that factors like starting salary should be secondary to the quality of the people around you. “If you find people who are wonderful to work with, that’s the place to go,” he said.
Warren Buffett weighed in on Berkshire Hathaway’s record-breaking cash pile of $335 billion, explaining that the company is in no hurry to spend it. “We’re staying very, very, very opportunistic,” Buffett said at the annual meeting, noting that Berkshire won’t invest just for the sake of being active. Instead, the conglomerate is holding out for what Buffett calls “fat pitches” --- those rare, high-confidence opportunities where the odds are firmly in their favor.
Berkshire Hathaway AGM Live: 'Fiscal policies of US concerns me'
Warren Buffett voiced concern over the United States' fiscal policy during Berkshire Hathaway’s AGM, calling it his biggest worry. “Fiscal policy is what scares me in the United States, because it's made the way it is,” Buffett said, referring to political motivations that often lead to unsustainable spending.
He warned that such behavior can “cause trouble with money”, though he was quick to point out that this issue isn’t unique to America. “It’s all over the world. In some places, it gets out of control regularly,” he added.
Berkshire Hathaway AGM Live: Wildfires dents Berkshire profits
Berkshire Hathaway on Saturday posted a lower operating profit in the first quarter, dented by insurance losses from wildfires and foreign currency changes, while its cash stake grew to a record $347.7 billion.
Operating profit for the Omaha, Nebraska-based conglomerate dropped 14% to $9.64 billion, or about $6,703 per Class A share, from $11.22 billion a year earlier.
Net income was down 64% to $4.6 billion, or $3,200 per Class A share, from $12.7 billion, reflecting unrealized losses on common stock holdings including Apple .
The cash stake grew from $334.2 billion at year-end, reflecting Berkshire's difficulty finding things to buy.
(via Reuters)
Berkshire Hathaway AGM Live: Don't feel discouraged about the US, says Buffett
At Berkshire Hathaway’s annual meeting, Warren Buffett responded to a shareholder’s concern over investor pessimism by reinforcing his long-standing optimism about the United States.
“America’s been in significant revolutionary change, really, ever since it was developed,” Buffett said. “We’re always in the process of change, and we’ll always find all kinds of things to criticize in the country," he added.
Despite challenges, Buffett maintained that the US remains an exceptional place to live. “The luckiest day of my life is the day I was born,” he said, reflecting on the nation’s resilience through wars, recessions and even the nuclear age.
He added that while no country solves every problem perfectly, the progress and opportunities in America still outshine its flaws. “If I were being born today, I’d just keep negotiating in the womb until they say you could be in the United States. We’re all pretty lucky.”
Warren Buffett along with his Vice Chairmen are talking to a packed house with attendees including Hilary Clinton and Apple CEO Tim Cook. Here's how the hall looked before Buffett took on stage:
(Reuters)
Berkshire Hathaway AGM Live: Buffett backs Japanese trading houses for long haul
Warren Buffett offered a strong vote of confidence in Japan’s top trading houses. The 94-year-old investing icon said he has no plans to sell Berkshire’s stakes in Itochu, Marubeni, Mitsubishi, Mitsui, and Sumitomo, collectively known as the "sogo shosha".
"In the next 50 years, we won't give a thought to selling those," Buffett told shareholders in Omaha. "We’ve been treated extremely well by the five companies...Our main activity is just to cheer and clap."
Berkshire’s investments in the trading firms stood at $23.5 billion by the end of 2024, with ownership rising to as much as 9.8% in each. These companies operate across a wide swath of sectors — from commodities and shipping to food and steel — acting as key intermediaries in Japan’s real economy.
Buffett, who has long favored businesses he understands deeply, likened the diversified Japanese firms to Berkshire itself. The investments, first revealed on Buffett’s 90th birthday in 2020, are now core to Berkshire’s growing international portfolio.
Berkshire Hathaway AGM Live: Buffett on US real estate market
Warren Buffett drew a sharp contrast between the US real estate and securities markets, highlighting why he favors the latter. “In a real estate deal, every sentence matters as much as a person,” he said. In contrast, the stock market offers speed and scale. “If someone needs to sell 20,000 shares of Berkshire at the right price, the transaction is completed in five seconds,” Buffett noted.
He pointed out that securities typically involve a single owner and allow for the movement of billions of dollars swiftly, while real estate deals often drag on even after contracts are signed due to lingering negotiations over terms. For Buffett, the streamlined efficiency of the US securities market offers far greater opportunity than the real estate sector.
The third question thrown at Berkshire Hathaway’s leadership focused on their perspective on artificial intelligence and potential investment opportunities in the space.
Buffett, with a smile, passed the question to Vice Chairman Ajit Jain. Jain admitted candidly that Berkshire has never been a first-mover in emerging technologies and so far, they haven't spotted a compelling opportunity in AI worth chasing.
Buffett then chimed in with a trademark quip, “I wouldn’t trade everything that’s going to be developed in AI over the next 10 years for Ajit.” The crowd laughs.
Read more about Ajit Jain here
Berkshire Hathaway AGM Live: Buffett on US's winner-take-all mentality
"It’s a big mistake in my view, when you have seven and a half billion people that don’t like you very well, and you got 300 million that are crowing in some way about how well they’ve done. And I don’t think its right, and I don’t think it’s wise, I do think that the more support and the more prosperous the rest of the world becomes, it won’t be in our expense," Buffett said.
Berkshire Hathaway AGM Live: Warren Buffett on Trade - 'It shouldn’t be a weapon'
Warren Buffett didn’t mince words when speaking about the state of global trade at Berkshire Hathaway’s annual meeting. The first question fired at Buffett during the meeting was about Donald Trump’s escalating trade war. In response, Buffett emphasised that balanced trade is ultimately good for the world and the more balanced it is, the better for everyone. He also cautioned against turning trade into a geopolitical weapon, underscoring that cooperation, not confrontation, leads to long-term prosperity.
“There’s no question that trade can become an act of war — just look at the attitudes it’s stirred up in the US,” he said, noting a concerning shift in public sentiment.
He stressed the importance of mutual benefit in international commerce: “We should engage in trade that lets each country do what it does best.”
Berkshire Hathaway AGM Live: Warren Buffett on Apple
"I'm somewhat embarrassed to say that Tim Cook has made Berkshire a lot more money than I've ever made Berkshire Hathaway," said Buffet. Cook stood up to applause. "Credit should be given to him."
He said while late CEO Steve Jobs "did things that nobody else could have done in developing Apple," Steve picked Cook to succeed him.
"And he really made the right decision," Buffett said.