Omaha, Nebraska — Berkshire Hathaway’s 2026 annual shareholder meeting marked a historic transition for the conglomerate, as Greg Abel presided over the event for the first time as CEO. The gathering, long known as the “Woodstock for Capitalists,” drew a noticeably smaller crowd compared to previous years, reflecting the shift away from Warren Buffett’s iconic leadership.
The meeting took place on May 2, 2026, at the CHI Health Center in Omaha. While thousands of shareholders still lined up early, the arena was only about half full at the start, with several thousand seats empty. This contrasted sharply with past events that regularly attracted 30,000 to 40,000 attendees.
Longtime shareholders and observers noted lighter attendance, shorter lines at vendor booths, and a more subdued atmosphere. Some attributed the drop to the absence of Buffett’s folksy wisdom, humor, and engaging storytelling, as well as the passing of longtime Vice Chairman Charlie Munger in 2023. Economic factors, higher travel costs, and fewer international visitors may have also played a role.
A New Era Begins
Warren Buffett, who stepped down as CEO at the end of 2025 after more than 60 years at the helm, remained in attendance as executive chairman. The 95-year-old legend made occasional comments but left the primary duties to Abel, the 63-year-old former head of Berkshire’s non-insurance operations who was long designated as his successor.
Abel adopted a more businesslike and detailed tone, focusing on operational updates, Berkshire’s record cash position (which reached approximately $380 billion), share repurchases, and the company’s broad portfolio of businesses. He emphasized continuity, integrity, and long-term value creation. Shareholders and analysts largely gave him positive marks for a steady, competent performance in his debut.
Topics discussed included Berkshire’s strong operating profits (up around 18% in recent quarters), investment strategy, and challenges in deploying its massive cash reserves amid market conditions. Abel fielded questions alongside other executives, including insurance chief Ajit Jain.
Mixed Reactions and Continuity
While some attendees missed the lively banter and life lessons of the Buffett-Munger era, many appreciated Abel’s grasp of the business and his collaborative style. Buffett has publicly endorsed Abel’s leadership, helping to reassure investors about the post-Buffett future.
Despite the smaller turnout, the event remained one of the largest corporate shareholder gatherings in the world. Related activities, such as the “Berkshire Bazaar of Bargains” shopping event, also saw reduced crowds but continued as traditions.
This meeting signals the beginning of Berkshire Hathaway’s next chapter. Under Abel, the company—known for its diverse holdings in insurance, railroads, energy, consumer goods, and major equity stakes—will navigate succession while maintaining its disciplined, long-term approach that built it into one of the world’s most valuable corporations.
As one shareholder put it, the “big shoes” left by Buffett are evident, but Abel’s solid start offers optimism for the road ahead. Full video recordings of the meeting are available through CNBC for those who missed the live event.
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