As Warren Buffett prepares to turn 94 this August, he addressed his retirement plans with Berkshire Hathaway shareholders during the company’s annual meeting. Buffett, known for his sharp wit, ended the meeting with humorous comments that drew laughter from the audience.
Concluding the 2024 Berkshire Hathaway annual meeting, Buffett displayed a sign that read “Shut up,” jokingly referring to his advice to himself. He reminisced about his late friend Charlie Munger, whose passing raised questions about Buffett’s succession. Munger, Buffett’s long-time business partner, played a crucial role in building Berkshire into a $900 billion conglomerate.
Buffett emphasized the importance of Berkshire’s future leadership structure, announcing that Greg Abel would have the final say on the company’s investment decisions. “I would leave the capital allocation to Greg and he understands businesses extremely well,” Buffett stated. “If you understand businesses, you’ll understand common stocks.”
Abel assured investors that the company’s culture would remain unchanged while recruiting new employees. “I think we have a very special company at Berkshire. And that’s not going to change.”
During the question-and-answer session, Buffett mistakenly referred to Abel as Munger, eliciting laughter from the audience. “I’m so used to that,” Buffett admitted, acknowledging that he might “slip again” in the future. However, Abel responded graciously, calling it “a great honor.”
Buffett also referred to himself as “Uncle Warren,” drawing more laughter from the audience. He thanked the attendees for their participation and expressed his hope to attend next year’s meeting.
Reacting to a video posted by CNBC, netizens praised Buffett’s wit and sharp humor. Comments on social media highlighted Buffett’s vibrant personality and the timeless appeal of his wisdom. Despite his advanced age, Buffett continues to inspire and entertain with his insights and humor.
