On May 3, 2025, at the CHI Health Center in Omaha, Nebraska, Berkshire Hathaway’s highly anticipated annual shareholder meeting was held. The event was known as the ‘Woodstock of the Capitalists’ and drew thousands of investors who wanted to hear from CEO Warren Buffett and others in the top ranks of companies. In particular, its importance this year was that it was the first full shareholder meeting under Charlie Munger’s successor after he died in his 100th year.
Key Figures Take the Stage
Warren Buffett was joined on stage by vice chairman of non-insurance operations and an apparent eventual replacement, Greg Abel, and vice chairman of insurance operations Ajit Jain. The three answered shareholder questions and weighed in on the future of Berkshire Hathaway in several live Q&A sessions with CNBC and streamed online.
Now, Buffett is 94 years old and sounded calm and thoughtful as he laid out the company’s strategy and its investment philosophy. He also believes that the company can be led in the future by Greg Abel.
Massive Cash Reserves and Capital Deployment
Berkshire Hathaway’s huge cash reserve was one entry topic: cash on hand now is over $160 billion. The fact that that cash was raised in a market where prices on things were inflated, coupled with investors’ uncertainty, made people curious about how the company planned to use that cash.
Berkshire is always searching for good businesses to buy, but is always cautious and will only make slow, deliberate decisions, explained Buffett. For instance, holding cash, he said, is a strategic move that enables the company to act quickly to take advantage of real opportunities as they come.
Succession Plans Take Center Stage
Succession planning, however, was a big issue since Charlie Munger had died while Buffett was in his mid-90s. Buffett declared again that when the time comes, Greg Abel will step in as CEO. Not to mention that, under the new leadership, he assured those shareholders that both the company’s decentralized model as well as its strong culture would remain unchanged. The responsibilities Abel has already taken on include taking on more work, and he is very much a part of day-to-day operations in leading the company’s non-insurance businesses.
The fact that Buffett made it abundantly clear there will be no major shift in strategy when he retires is the idea that Berkshire Hathaway is built to stay put and generate long-term value.
Investment Portfolio and Market Outlook
Berkshire’s investment portfolio also came up for discussion during the meeting. Among other things, the company’s decision to sell down its stake in Apple was considered one notable topic. Buffett went as far as to clarify that the reduction was mainly a tax matter and not a sign of doubt in its business. Berkshire’s largest and most successful investment is Apple.
He added that Indian markets are attractive and that the state of the global economy is good. But he emphasized that Berkshire is still inclined towards US based investments because American businesses are reliable and transparent.
AI, Innovation, and Risk
In addition to technology and artificial intelligence, another important subject was where to position Newlog. Buffett admitted that he is not an expert on AI, but he is aware of its growing influence on the world. But while AI has some promise, it comes with risks that are ‘serious’ in a cybersecurity and ethical responsibility context, he warned. What he stressed was the need for respectful regulation and a worthwhile investment in tech-focused industries.
Conclusion
The 2025 Berkshire Hathaway annual meeting provided valuable insights into the future of the company and those of the most respected and revered investor of all: the man himself. As long as Warren Buffett is still at the helm, but is about to pass the baton of the Berkshire tradition of value-driven, long-term investing to Greg Abel, Berkshire looks ready to go on with this tradition. Economic uncertainty is the order of the day, and the meeting conveyed to shareholders that the company is focused, disciplined, and can weather whatever should come next.
