Yahoo FinanceBerkshire Hathaway annual shareholders meeting: Warren Buffett takes stage without Charlie Munger for first time

May 04 2024 09:07 PM IST

Berkshire Hathaway's annual shareholders meeting will be the first of a new era for the conglomerate. CEO Warren Buffett will not be joined by vice chairman Charlie Munger, who passed away late last year at the age of 99. For the first time, non-shareholders will also be able to watch the annual shareholders' movie.

The Berkshire Hathaway (BRK-A, BRK-B) annual shareholders meeting on Saturday will be the first of a new era for the conglomerate.
CEO Warren Buffett, alongside Berkshire vice chairs Greg Abel and Ajit Jain, is set to face several hours of shareholder questions starting at around 10:15 a.m. ET.
And for the first time in decades, Buffett will not be joined by vice chairman Charlie Munger, who passed away late last year at the age of 99.
In his annual letter to Berkshire shareholders, Buffett called Munger the "architect" of the modern Berkshire Hathaway, which takes its name from a now-defunct textile company in New England and has grown to be the largest conglomerate in the S&P 500.
For the first time, non-shareholders will also be able to watch the annual shareholders' movie, which often features celebrity cameos and has previously only been for shareholders attending the meeting in Omaha.
The shareholder film will begin at 9:30 a.m. ET.
Live1 updateSat, May 4, 2024 at 6:17 AM PDTMyles UdlandBerkshire posts record operating profit as Apple drags on investment gainsAhead of Saturday's annual shareholder meeting, Berkshire Hathaway reported first quarter earnings that showed a record operating profit of $11.22 billion.In the first quarter last year, operating profits at Berkshire tallied $8.1 billion.The company's investment gains, however, were down sharply from the prior year period, tallying just $1.48 billion against some $24.75 billion last year.Apple's (AAPL) roughly 10% decline in the first quarter weighed on results here, with the tech giant accounting for around 40% of Berkshire equity holdings.At last year's annual meeting, Buffett took time, however, to emphasize to investors that this stock does not actually comprise this percentage of Berkshire's overall portfolio, which includes its other fully-owned subsidiaries.
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