The 2026 Annual Meeting of Berkshire Hathaway took place on May 2nd in Omaha, Nebraska, marking the first gathering since Warren Buffett stepped down from his leadership role. This year's event, often called the "Woodstock for Capitalists," was closely watched as it represented the inaugural shareholder meeting of the post-Buffett era.
For the first time, successor Greg Abel presided over the question-and-answer session, while Warren Buffett sat in the front row of the director's section. During the introductory segment, as Abel was introducing key company figures alphabetically, he passed the microphone to Buffett when his turn came. Seated in the audience, Buffett used the opportunity to lavish praise on Abel.
Buffett noted that the day coincidentally marked the anniversary of his announcement appointing Abel as CEO of Berkshire Hathaway. He described it as an excellent decision that had proven to be one hundred percent successful. "Greg has done everything I used to do, and even more," Buffett stated.
Simultaneously, Buffett paid tribute to Tim Cook, the outgoing CEO of Apple, reiterating that Cook had managed the company exceptionally well, building upon the foundation laid by Steve Jobs. "Steve Jobs is a household name in America, responsible for miraculous innovations in the products he launched. After his passing, Tim Cook took over Apple and turned around many situations," Buffett said. "Berkshire Hathaway invested nearly 10% of its resources in Apple, effectively placing that investment in Tim's hands. He transformed it into a pre-tax return of approximately $185 billion."
Apple itself is also undergoing a leadership transition. On April 21st, the company announced that after 15 years as CEO, Tim Cook would assume the role of Executive Chairman of the board. Cook became CEO in 2011 following Jobs's death. Under Cook's leadership, Apple's market capitalization grew from around $350 billion to $4 trillion, an increase of over 1000%. Annual revenue also nearly quadrupled, rising from $108 billion in fiscal 2011 to over $416 billion in fiscal 2025.
A notable moment at this year's meeting involved an amusing incident with a "real and fake Buffett." At the start of the Q&A session, the first question came from an individual dressed in a suit who resembled Warren Buffett. This "AI Buffett" asked Abel why investors should hold Berkshire Hathaway stock for the long term.
The impersonator began, "Hello, my name is Warren, from Omaha. Greg, I've been following this company for a very long time. My question is simple. I'm 95 years old and have everything I need except time and Cherry Coke. I want to know, and to be able to tell my shareholder friends, why they should continue to hold Berkshire Hathaway stock for the long term?"
Abel later revealed that the questioner was not the real Warren Buffett but a video generated using AI technology. He used this moment to highlight the risks associated with cybersecurity to the shareholders present. In response to the AI-generated question, Abel emphasized the strength of the company's massive cash reserves, stating that this capital gives Berkshire Hathaway significant flexibility to allocate funds across various investment opportunities, especially when attractive large-scale assets become available.
Furthermore, Abel clarified that the AI video of Buffett was created without any involvement from the "Oracle of Omaha" himself and was a deepfake.
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