5 key highlights from Warren Buffett’s Berkshire Hathaway annual meeting 2024
Warren Buffet's Berkshire Hathaway Q1 operating profit rises 39% to $11.22 billion, net income drops 64% YoY Let's take a look at the five key highlights from Warren Buffett’s Berkshire Hathaway annual meeting Giving rest to speculations, Warren Buffett said Greg Abel, 61, who will be taking over the CEO job at Berkshire Hathaway, will control Berkshire Hathaway’s investing decisions, including its stock portfolio, after him. “I think the responsibility ought to be entirely with Greg.
The responsibility has been with me, and I farmed out some of it, and I used to think differently about how that would be handled, but I think the responsibility should be that of the CEO," said Buffett, as quoted by CNBC.com. Abdel, vice chairman of the non-insurance operation, whose name was revealed as Buffett's successor at the shareholder meeting in 2021, has been managing a significant portion of Berkshire’s investments, including energy and retail.
Also Read: Warren Buffett accidentally calls Greg Abel 'Charlie Munger'; netizens say ‘they were incredibly…’ Berkshire Hathaway trimmed its stake in Apple for the second consecutive quarter as it reduced its investment in tech-giant Apple by around 13 per cent in the first quarter. Berkshire sold about 10 million shares of Apple, or 1 per cent of its stake in the tech firm, in the last quarter of 2023.
Berkshire again sold about 116 million Apple shares, or 13 per cent stake in the company, in the first quarter of the current year. Also Read: Buffett reassures succession plans at Berkshire Hathaway; praises Apple despite stake redduction Nevertheless, at the end of the January-March quarter, Apple was Berkshire’s biggest holding.
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