Berkshire Hathaway has 1st annual meeting without Warren Buffett
Berkshire Hathaway held its first annual shareholder meeting without Warren Buffett on stage, marking a transition in leadership to CEO Greg Abel. The company reported strong first-quarter earnings, with profits more than doubling due to investment gains and improved business performance. Operating earnings also exceeded analyst expectations, highlighting continued strength across its diverse business units.
- ▪Warren Buffett stepped down as CEO at the end of 2025, and Greg Abel officially took over in January 2026.
- ▪Berkshire Hathaway reported first-quarter earnings of $10.1 billion, up from $4.6 billion in the same period last year.
- ▪Operating earnings rose to $11.3 billion, surpassing the $7,611.35 per Class A share expected by analysts.
- ▪The value of Berkshire's investment portfolio declined slightly to just over $288 billion, but the company recorded a $5.8 billion gain on stocks sold.
- ▪Berkshire's cash reserves reached $397.4 billion at the end of the first quarter.
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MoneyWatch Berkshire Hathaway shareholders gather for 1st annual meeting without Warren Buffet on stage .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } May 2, 2026 / 10:58 AM EDT / CBS/AP Add CBS News on Google Berkshire Hathaway shareholders gathered Saturday in Omaha, Nebraska for the first annual meeting without legendary founder Warren Buffett on the stage.In May 2025, Buffett announced he would step down at the end of the year and that his successor, 63-year-old Greg Abel, would become CEO. The move surprised many investors, as it was widely assumed that Abel would not take over until after Buffett's death. Abel officially became the CEO in January 2026.
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