Warren Buffett Hails Tim Cook, Charlie Munger Calls Big Tech ‘Credit to Civilization’ at Berkshire Meeting

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Warren Buffett Hails Tim Cook, Charlie Munger Calls Big Tech ‘Credit to Civilization’ at Berkshire Meeting
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Warren Buffett gushed over the management and leadership skills of Apple CEO Tim Cook on Saturday as the renowned investor presided over Berkshire Hathaway’s annual shareholders meeting. Buff…

on Saturday as the renowned investor presided over Berkshire Hathaway’s annual shareholders meeting.

Berkshire Hathaway has traditionally stayed away from high-flying tech firms; most of its profits come from railroads, insurance, utilities and energy businesses. But in 2016 Buffett began buying Apple shares. At present Berkshire owns about 5.3% Apple, after investing about $36 billion. Berkshire’s annual shareholder’s gathering is traditionally held as a festive affair in Omaha, Neb., Berkshire’s home base. But pandemic conditions forced this year’s meeting to be held in virtual form, with Buffett, Munger and other Berkshire bigwigs at a dias addressing shareholders on a live stream originating from Los Angeles. CNBC anchor Becky Quick moderated the session, fielding questions submitted from shareholders.

Buffett called Cook “one of the best managers in the world.” He gushed about the role that Apple iPhones and other devices play in the lives of consumers. “The product is an incredible product,” he said.

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