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Berkshire Hathaway’s annual meeting – Buffett’s ‘Woodstock for Capitalists’ – set to return in person after 2 years virtual

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BRK.A

Warren Buffett at Berkshire Hathaway’s annual meeting in Los Angeles California. May 1, 2021.
Gerard Miller | CNBC

Berkshire Hathaway said Tuesday its annual shareholder meeting will be held in person on April 30 after two years of virtual gathering due to Covid-19 restrictions.

The so-called “Woodstock for Capitalists,” has drawn tens of thousands of attendees for years and will be webcast this year as usual. The event offers a rare chance for investors to hear from the legendary investor Warren Buffett, who usually participates in a marathon Q&A session for a few hours.

Last year, the meeting took place without attendees in Los Angeles, where 98-year-old Berkshire Vice Chairman Charlie Munger resides, marking the first time that the event was held outside of Omaha, Nebraska.

In 2020 during the height of the pandemic, Buffett, now 91, led the annual meeting in an empty arena in Omaha, Nebraska in the absence of his usual sidekick Munger.

Berkshire’s other vice chairmen, Ajit Jain and Greg Abel, are expected to be on hand to answer questions this year. Abel, vice chairman of noninsurance operations, has been a top contender as Buffett’s eventual successor.

Berkshire’s fourth-quarter earnings and 2021 annual report will be released Feb. 26, the company said.

Last quarter, Berkshire saw another double-digit increase in its operating profit thanks to a continuous rebound in its railroad, utilities and energy businesses from the pandemic. The company’s cash pile hit a record high as Buffett continued to sit on the sidelines.

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