In the Berkshire Hathaway annual general meeting, Buffett spoke about his successors, the reality of mortality and why his high cash reserves do not concern him. The meeting began with a tribute to Charlie Munger, Buffett’s late friend and business partner. The film showcased their remarkable friendship, successful business ventures and Munger’s recent passing.
Buffett, who is 93 years old, contemplated the future without Munger by his side. He introduced his designated successors, Ajit Jain and Greg Abel, indicating that they would take over key leadership roles within the company. Buffett highlighted the importance of having a strong team in place to continue Berkshire Hathaway’s success once he is no longer at the helm.
Despite Berkshire Hathaway’s record-high cash reserves of $189 billion, Buffett remained unfazed. He explained his strategic investment decisions and how they have continued to yield impressive returns for the company. One notable change was Buffett’s decision to sell around 13 percent of his Apple shares, although he reiterated his confidence in the company’s long-term prospects.
In addition to discussing business matters, Buffett touched on philanthropy and the importance of giving back to the community. He emphasized the need for companies to pay their fair share of taxes and expressed his commitment to using his wealth for charitable purposes. Buffett’s dedication to philanthropy and his enduring friendship with Munger were evident throughout the general meeting.
As the meeting concluded, Buffett shared valuable life advice with attendees, reflecting on the importance of pursuing meaningful work, nurturing relationships and setting goals for the future. Despite his advancing age, Buffett expressed his hope to continue attending future meetings and contributing to the success of Berkshire Hathaway. The shareholders applauded Buffett