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Greg Abel runs his first Berkshire annual meeting, Buffett attends<body><p>STORY: :: May 1, 2026</p><p>New Berkshire Hathaway CEO Greg Abel presided over his first annual meeting on Saturday, looking to earn the trust of shareholders at a critical moment for the conglomerate built by Warren Buffett.</p><p>The 63-year-old, who succeeded Buffett in January, kicked off the Omaha event as a banner honoring Buffett’s 60 years at the helm drew applause. Buffett, now chairman, watched from the front row.</p><p>Abel's task, as one attendee put it, is formidable: "Replacing the greatest investor who ever lived." </p><p>Since Buffett, who's 95, announced last year he would step down, Berkshire's shares have lagged the S&P 500 by nearly 40 percentage points.</p><p>While Berkshire is sometimes considered a microcosm of the broader U.S. economy, it has also been viewed as out of step with broader market trends, most notably technology and AI-driven growth.</p><p>Though Apple is one of its largest holdings, Berkshire is more known for its retail, industrial and insurance businesses, including Geico, BNSF railroad, Dairy Queen and See's Candies.</p><p>Before the meeting, Berkshire reported higher first‑quarter operating profit and a record cash pile of nearly 400 billion dollars — along with its first share buybacks in almost two years.</p><p>Still, questions remain over how Abel will deploy all that cash, something that also bedeviled Buffett, with Berkshire going a decade without making a needle-moving acquisition.</p><p>The meeting is the centerpiece of a weekend of shareholder events around Omaha, including investment conferences, private get-togethers, and shopping from Berkshire-owned businesses in a downtown exhibit hall.</p></body>