CEO Greg Abel moves to assure Berkshire shareholders in a post-Buffett world, with record cash
Abel said Berkshire will keep its culture and capital discipline intact as it weighs acquisitions, buybacks and a $380.2 billion cash pile, Reuters reported.
- On Saturday, May 2, 2026, CEO Greg Abel hosted his first annual Berkshire Hathaway shareholders' meeting in Omaha, Nebraska, assuring investors the conglomerate will invest wisely without excessive bureaucracy.
- The historic gathering marked the conglomerate's first meeting since Warren Buffett stepped down after 60 years as chairman, with Abel succeeding him as chief executive at the start of this year.
- Berkshire reported first-quarter net income of $10.11 billion, more than double a year earlier, while maintaining a record cash pile of $380.2 billion at the end of March.
- From the front row, Buffett declared the transition "100% successful," telling attendees that Abel is "doing everything I did and then some" while managing the firm's complex operations.
- Prioritizing long-term value, Abel rejected rushing into artificial intelligence, stating the firm will not "do AI for the sake of AI" while constantly evaluating opportunities to expand Berkshire's portfolio.
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Greg Abel’s message to Berkshire shareholders, post-Buffett: be patient
Key topicsAbel urges patience, avoids rushing into overpriced dealsBerkshire sits on $380bn cash, waiting for market dislocationsNew CEO backs conglomerate model, signals disciplined investingSign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox every morning on weekdays. Register here.Support South Africa's bastion of independent journalism, offer…
He will invest the money wisely and without bureaucratic hurdles, said the successor of the previous head of Berkshire, investor legend Warren Buffett. Previously, the investment company had reported an 18 percent increase in operating profit for the first quarter.
Berkshire Without Buffett Hits All-Time Cash Reserves... New CEO Warns of Buying During Turmoil Berkshire Hathaway, which has entered a new era following the departure of legendary Wall Street investor Warren Buffett, has hit a record high in cash reserves this year. The company plans to leverage its massive cash reserves when market turmoil strikes.
While Buffett Watches, Successor Addresses Investors
In his first solo appearance before shareholders, Berkshire Hathaway's new chief executive made the case Saturday that the company can thrive without Warren Buffett at the helm even as it keeps his approach intact. Greg Abel told investors in Omaha that Berkshire's culture "wouldn't change," though he described shifts already...
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