For the first time, Warren Buffett will not be the central figure at Berkshire Hathaway‘s annual meeting on May 2, 2026, in Omaha. This marks a significant leadership transition as Greg Abel officially takes over as CEO.
The change comes amid notable challenges for the company. Operating earnings fell nearly 30% in the fourth quarter of 2025, primarily due to a staggering 54% drop in insurance underwriting profits. This decline reflects broader market pressures that have also seen Berkshire’s shares fall more than 5% year to date.
Berkshire has lagged behind the S&P 500 index by over 30 percentage points since Buffett indicated his plans to step down last May. Yet, despite these challenges, Abel remains optimistic. He recently invested his entire after-tax salary of $15 million to personally buy shares of Berkshire, signaling confidence in its future.
The annual meeting is expected to draw around 30,000 shareholders, a testament to the enduring interest in Berkshire Hathaway even as it navigates this transition. “Clearly, nobody can replace Warren on the stage,” said Macrae Sykes, reflecting on Buffett’s long-standing influence.
This year’s meeting will also address recent developments. In March 2026, Berkshire resumed stock buybacks for the first time since 2024, repurchasing roughly $226 million of its own stock. This move aims to bolster shareholder value amidst fluctuating operating earnings.
Bill Stone noted, “I think part of it is really hard to expect a whole lot of earnings growth this year,” pointing to ongoing uncertainties in the market. As shareholders gather in Omaha, they will not only witness a new chapter under Abel but also engage with pressing questions about Berkshire’s direction going forward.
