The 'Oracle of Omaha' spoke candidly about a future when he's no longer there to lead the conglomerate he built with the late Charlie Munger.
Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024.shareholders Saturday about a future when he's no longer there to lead the sprawling conglomerate he built, appearing solemn at times as he pondered his advanced age, and reflected on his late friend and business partner Charlie Munger.
"We'll see how the next management plays the game out at Berkshire, fortunately you don't have too long to wait on that," Buffett said. "I feel fine, but I know a little about actuarial tables.""I shouldn't be taking on any four-year employment contracts, like several people are doing in this world, at an age when you can't be quite that sure where you're going to be in four years," he added.
Some of those zingers and insights were highlighted in a video tribute at the start of this year's meeting. At the 2015 meeting, for example, he observed, "Warren, if people weren't so often wrong we wouldn't be so rich." As the lights of the arena came on at the conclusion of the short movie, some tens of thousands of investors got to their feet for a standing ovation.
At one point during the question-and-answer session, Buffett referred to Abel, who was sitting to his left, as the late Munger in a slip-up, prompting laughter from the crowd. "I'm so used to that," admitted Buffett, who said he'd likely "slip again" during the meeting. Abel, who is Buffett's named successor, responded: "It's a great honor."
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