Berkshire Hathaway Inc. Chairman and Chief Executive Warren Buffett kicked off his firm’s annual meeting Saturday in Los Angeles with his business partner and top lieutenants in tow.
As the 90-year-old Mr. Buffett and his 97-year-old business partner Charlie Munger advance in age, succession has become a more important topic for shareholders. Some investors have asked to hear more from Mr. Buffett’s potential successors and vice chairmen Ajit Jain and Greg Abel, who respectively oversee the firm’s insurance business and operations. Both men are expected to join Messrs. Buffett and Munger in Los Angeles.
The backdrop for Saturday’s meeting is in contrast with its first virtual meeting last year when the U.S. was in the early grips of the Covid-19 pandemic. With millions of American unemployed, Mr. Buffett spent much of the 2020 meeting emphasizing the economy’s ability to bounce back from adversity.
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