Berkshire Hathaway Annual Meeting Transcripts 1994 to 2026
This page lists every Berkshire Hathaway annual meeting from 1994 to 2026. For each year you get the date, the BRK.A share price, three highlights, our transcript and the shareholder letter Berkshire published before it. Our transcripts are full transcripts made from the meeting video. Each one has chapters, a short summary and timestamps that jump to the right second in the video.
Key facts
Berkshire has filmed every annual meeting since 1994, and we turn each one into a full transcript.
- Meetings on video: 33, from April 25, 1994 to May 2, 2026.
- Our full transcripts: 33 meetings, every one since 1994.
- Questions in our transcripts: 1,731 from 30 meetings (1994 to 2023). 91% name the person who asked.
- Online only: 2020 and 2021, because of Covid. The 2021 meeting came from Los Angeles.
- Last meeting with Charlie Munger: May 6, 2023. Greg Abel led his first meeting as CEO on May 2, 2026.
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01
Berkshire Hathaway meetings 2020 to 2026
TL;DR: Covid moved 2020 and 2021 online. Charlie Munger joined for the last time in 2023. Greg Abel led the 2026 meeting as CEO.
| Meeting | BRK.A share price | Highlight 1 | Highlight 2 | Highlight 3 | Read more |
|---|---|---|---|---|---|
| 2026 May 2 | $710,300 | Greg Abel’s first meeting as CEO | Buffett in the front row | Could Berkshire ever be broken up? | Transcript Letter 2025 |
| 2025 May 3 | $809,350 | Buffett says he will step down | Buffett: trade should not be a weapon | Why Berkshire holds so much cash | Transcript Letter 2024 |
| 2024 May 4 | $603,000 | Film tribute to Charlie Munger | Abel will manage the stock portfolio | Buffett on AI and Apple | Transcript Letter 2023 |
| 2023 May 6 | $491,840 | Charlie Munger’s last meeting | Greg Abel will succeed Buffett | Japan was an easy decision | Transcript Letter 2022 |
| 2022 April 30 | $484,340 | Back in Omaha after three years | Alleghany and Occidental within weeks | Cash is like oxygen in a panic | Transcript Letter 2021 |
| 2021 May 1 | $412,500 | Online from Los Angeles | None of 1989’s top 20 still there | A market that looks like a casino | Transcript Letter 2020 |
| 2020 May 2 | $273,975 | Empty arena, no Charlie Munger | Berkshire sold its airline stocks | Never bet against America | Transcript Letter 2019 |
| Meeting | Highlights |
|---|---|
| 2026 May 2 BRK.A $710,300 Transcript Letter 2025 | • Greg Abel’s first meeting as CEO • Buffett in the front row • Could Berkshire ever be broken up? |
| 2025 May 3 BRK.A $809,350 Transcript Letter 2024 | • Buffett says he will step down • Buffett: trade should not be a weapon • Why Berkshire holds so much cash |
| 2024 May 4 BRK.A $603,000 Transcript Letter 2023 | • Film tribute to Charlie Munger • Abel will manage the stock portfolio • Buffett on AI and Apple |
| 2023 May 6 BRK.A $491,840 Transcript Letter 2022 | • Charlie Munger’s last meeting • Greg Abel will succeed Buffett • Japan was an easy decision |
| 2022 April 30 BRK.A $484,340 Transcript Letter 2021 | • Back in Omaha after three years • Alleghany and Occidental within weeks • Cash is like oxygen in a panic |
| 2021 May 1 BRK.A $412,500 Transcript Letter 2020 | • Online from Los Angeles • None of 1989’s top 20 still there • A market that looks like a casino |
| 2020 May 2 BRK.A $273,975 Transcript Letter 2019 | • Empty arena, no Charlie Munger • Berkshire sold its airline stocks • Never bet against America |
02
Berkshire Hathaway meetings 2010 to 2019
TL;DR: Tens of thousands of people came to Omaha each year. Journalists read many of the questions that shareholders sent in by email.
| Meeting | BRK.A share price | Highlight 1 | Highlight 2 | Highlight 3 | Read more |
|---|---|---|---|---|---|
| 2019 May 4 | $327,766 | All investing is value investing | A Berkshire manager buys Amazon | Kraft Heinz and Occidental | Transcript Letter 2018 |
| 2018 May 5 | $292,600 | What 10,000 dollars from 1942 became | Health costs are a tapeworm | Crypto will end badly | Transcript Letter 2017 |
| 2017 May 6 | $250,000 | ‘Too dumb’ to see Amazon coming | Wells Fargo, IBM and Apple | Rich societies must help displaced workers | Transcript Letter 2016 |
| 2016 April 30 | $219,000 | First webcast, with Mandarin translation | Valeant and the hedge fund bet | Climate risk, priced year by year | Transcript Letter 2015 |
| 2015 May 2 | $215,800 | 50 years under Buffett | Clayton Homes and 3G | Culture comes from the top | Transcript Letter 2014 |
| 2014 May 3 | $192,255 | Abstaining on Coca-Cola’s pay plan | Doubts about most acquisitions | A big cash cushion | Transcript Letter 2013 |
| 2013 May 4 | $162,904 | Short seller Doug Kass on the panel | Culture will outlast Buffett | Howard Buffett to guard the culture | Transcript Letter 2012 |
| 2012 May 5 | $121,950 | Cancer called ‘a really minor event’ | First analyst panel on stage | Never risk what you have | Transcript Letter 2011 |
| 2011 April 30 | $124,750 | Sokol’s Lubrizol trades ‘inexcusable’ | Productive assets beat gold | Index funds for most savers | Transcript Letter 2010 |
| 2010 May 1 | $115,325 | Buffett defends Goldman Sachs | The BNSF purchase | Inflation and the euro | Transcript Letter 2009 |
| Meeting | Highlights |
|---|---|
| 2019 May 4 BRK.A $327,766 Transcript Letter 2018 | • All investing is value investing • A Berkshire manager buys Amazon • Kraft Heinz and Occidental |
| 2018 May 5 BRK.A $292,600 Transcript Letter 2017 | • What 10,000 dollars from 1942 became • Health costs are a tapeworm • Crypto will end badly |
| 2017 May 6 BRK.A $250,000 Transcript Letter 2016 | • ‘Too dumb’ to see Amazon coming • Wells Fargo, IBM and Apple • Rich societies must help displaced workers |
| 2016 April 30 BRK.A $219,000 Transcript Letter 2015 | • First webcast, with Mandarin translation • Valeant and the hedge fund bet • Climate risk, priced year by year |
| 2015 May 2 BRK.A $215,800 Transcript Letter 2014 | • 50 years under Buffett • Clayton Homes and 3G • Culture comes from the top |
| 2014 May 3 BRK.A $192,255 Transcript Letter 2013 | • Abstaining on Coca-Cola’s pay plan • Doubts about most acquisitions • A big cash cushion |
| 2013 May 4 BRK.A $162,904 Transcript Letter 2012 | • Short seller Doug Kass on the panel • Culture will outlast Buffett • Howard Buffett to guard the culture |
| 2012 May 5 BRK.A $121,950 Transcript Letter 2011 | • Cancer called ‘a really minor event’ • First analyst panel on stage • Never risk what you have |
| 2011 April 30 BRK.A $124,750 Transcript Letter 2010 | • Sokol’s Lubrizol trades ‘inexcusable’ • Productive assets beat gold • Index funds for most savers |
| 2010 May 1 BRK.A $115,325 Transcript Letter 2009 | • Buffett defends Goldman Sachs • The BNSF purchase • Inflation and the euro |
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03
Berkshire Hathaway meetings 2000 to 2009
TL;DR: The meeting moved to Saturdays in 2000 and to the Qwest Center in 2004. In 2008 and 2009 many questions were about the financial crisis.
| Meeting | BRK.A share price | Highlight 1 | Highlight 2 | Highlight 3 | Read more |
|---|---|---|---|---|---|
| 2009 May 2 | $92,005 | Journalists read emailed questions, a first | Buffett defends his derivative bets | Never trust rating agencies | Transcript Letter 2008 |
| 2008 May 3 | $133,600 | Bear Stearns rescue | Buffett on 10% returns | David Sokol on stage | Transcript Letter 2007 |
| 2007 May 5 | $109,250 | Vote on PetroChina over Darfur | Subprime and dumb lending | Searching for Buffett’s successor | Transcript Letter 2006 |
| 2006 May 6 | $88,710 | ISCAR bought after one letter | Newspapers lose their franchise | Succession and catastrophe risk | Transcript Letter 2005 |
| 2005 April 30 | $84,350 | Trade deficit: a family selling its farm | Finite reinsurance questions | Avoid gold and capital hogs | Transcript Letter 2004 |
| 2004 May 1 | $93,390 | First meeting at the Qwest Center | Costliest mistakes are things not done | PetroChina and asbestos | Transcript Letter 2003 |
| 2003 May 3 | $70,400 | Derivatives could worsen a crisis | McLane and Clayton Homes deals | EBITDA ignores a real cost | Transcript Letter 2002 |
| 2002 May 4 | $74,300 | First meeting after September 11 | Insurers covered terror for nothing | Options and derivatives are real costs | Transcript Letter 2001 |
| 2001 April 28 | $67,005 | Munger’s 200 million dollar Belridge miss | The dotcom boom ends | NetJets, Finova and succession | Transcript Letter 2000 |
| 2000 April 29 | $59,300 | Tech bubble compared to a chain letter | A bubble moves wealth, creates none | Buy moats and widen them | Transcript Letter 1999 |
| Meeting | Highlights |
|---|---|
| 2009 May 2 BRK.A $92,005 Transcript Letter 2008 | • Journalists read emailed questions, a first • Buffett defends his derivative bets • Never trust rating agencies |
| 2008 May 3 BRK.A $133,600 Transcript Letter 2007 | • Bear Stearns rescue • Buffett on 10% returns • David Sokol on stage |
| 2007 May 5 BRK.A $109,250 Transcript Letter 2006 | • Vote on PetroChina over Darfur • Subprime and dumb lending • Searching for Buffett’s successor |
| 2006 May 6 BRK.A $88,710 Transcript Letter 2005 | • ISCAR bought after one letter • Newspapers lose their franchise • Succession and catastrophe risk |
| 2005 April 30 BRK.A $84,350 Transcript Letter 2004 | • Trade deficit: a family selling its farm • Finite reinsurance questions • Avoid gold and capital hogs |
| 2004 May 1 BRK.A $93,390 Transcript Letter 2003 | • First meeting at the Qwest Center • Costliest mistakes are things not done • PetroChina and asbestos |
| 2003 May 3 BRK.A $70,400 Transcript Letter 2002 | • Derivatives could worsen a crisis • McLane and Clayton Homes deals • EBITDA ignores a real cost |
| 2002 May 4 BRK.A $74,300 Transcript Letter 2001 | • First meeting after September 11 • Insurers covered terror for nothing • Options and derivatives are real costs |
| 2001 April 28 BRK.A $67,005 Transcript Letter 2000 | • Munger’s 200 million dollar Belridge miss • The dotcom boom ends • NetJets, Finova and succession |
| 2000 April 29 BRK.A $59,300 Transcript Letter 1999 | • Tech bubble compared to a chain letter • A bubble moves wealth, creates none • Buy moats and widen them |
04
Berkshire Hathaway meetings 1994 to 1999
TL;DR: The meetings were on Mondays. They grew from the Orpheum Theater to the Aksarben Coliseum. Buffett and Munger answered every question.
| Meeting | BRK.A share price | Highlight 1 | Highlight 2 | Highlight 3 | Read more |
|---|---|---|---|---|---|
| 1999 May 3 | $76,400 | LTCM bid from a boat in Alaska | General Re and its float | Stock returns must come down | Transcript Letter 1998 |
| 1998 May 4 | $69,300 | Why Berkshire bought silver | Volatility is not risk | Tech stocks stay outside the circle | Transcript Letter 1997 |
| 1997 May 5 | $38,000 | The ovarian lottery | Expect at most 15% a year | Super-cat insurance and stock options | Transcript Letter 1996 |
| 1996 May 6 | $33,550 | Class B shares to block unit trusts | GEICO now fully owned | Diversification protects against ignorance | Transcript Letter 1995 |
| 1995 May 1 | $21,600 | Helzberg’s deal from a chance street meeting | USAir and Salomon preferred stock | A moat and an honest lord | Transcript Letter 1994 |
| 1994 April 25 | $15,450 | Buffett warns about derivatives and leverage | Salomon after the bond scandal | Cheap float is worth a rare big loss | Transcript Letter 1993 |
| Meeting | Highlights |
|---|---|
| 1999 May 3 BRK.A $76,400 Transcript Letter 1998 | • LTCM bid from a boat in Alaska • General Re and its float • Stock returns must come down |
| 1998 May 4 BRK.A $69,300 Transcript Letter 1997 | • Why Berkshire bought silver • Volatility is not risk • Tech stocks stay outside the circle |
| 1997 May 5 BRK.A $38,000 Transcript Letter 1996 | • The ovarian lottery • Expect at most 15% a year • Super-cat insurance and stock options |
| 1996 May 6 BRK.A $33,550 Transcript Letter 1995 | • Class B shares to block unit trusts • GEICO now fully owned • Diversification protects against ignorance |
| 1995 May 1 BRK.A $21,600 Transcript Letter 1994 | • Helzberg’s deal from a chance street meeting • USAir and Salomon preferred stock • A moat and an honest lord |
| 1994 April 25 BRK.A $15,450 Transcript Letter 1993 | • Buffett warns about derivatives and leverage • Salomon after the bond scandal • Cheap float is worth a rare big loss |
Meeting history
How the meeting changed from 1994 to 2026, in charts.
- Where each meeting took place, how many people came and what a BRK.A share cost at the meeting.
- How many questions shareholders asked, who asked most often and how many came from women.
- How international the meeting became: askers from 41 countries.
- Who owns Berkshire, and who brought the meeting to the world on TV and online.
05
How do you get the most out of an old meeting?
TL;DR: Read the shareholder letter first. Then read the transcript and open the video at the timestamps you care about.
- Start with the letter. Each meeting follows the letter Berkshire published a few months before. That is why the 2008 row links the letter for 2007. Berkshire keeps all letters on its website.
- Use the chapters. Every transcript starts with key facts and a short summary. Each question has its own heading, so you can jump to a topic.
- Go year by year. The questions follow the news: the internet bubble in 1999 and 2000, the financial crisis in 2008 and 2009, Covid in 2020.
06
What do readers ask about the Berkshire meeting transcripts?
TL;DR: Short answers on the next meeting, the videos and how we make the transcripts.
When is the next Berkshire Hathaway meeting?
The next meeting is on Saturday, May 1, 2027, in Omaha. Our 2027 guide has the schedule, tickets and travel tips.
Where can I watch old Berkshire meetings?
CNBC hosts the full video of every meeting since 1994 in its Warren Buffett Archive. Each of our transcripts links the video of its year, and the timestamps open it at the right second.
Are these transcripts verbatim?
Almost. We start from the captions of the meeting video. We fix punctuation, add the speaker names and check every paragraph word by word against the captions. A few hearing errors can stay in the text. Before you quote a line, play the video at the linked timestamp.
Who asks the questions at the meeting?
Shareholders ask at microphones in the hall. In later years, journalists also read questions that shareholders send in by email. Each question in our transcripts shows who asked it, when the meeting says so. Our meeting history counts the questions and shows who asked most often.
Going to Omaha?
Get the free Berkshire meeting guide newsletter: dates, tickets, travel tips and what to expect at the next meeting. Or read the Berkshire Hathaway Annual Meeting guide now.
How this page was made: dates come from the proxy statements Berkshire filed with the SEC. The BRK.A share price is the closing price on the last trading day before the meeting (Yahoo Finance). The three highlights per meeting are moments we picked from our transcript. This page is for learning only and is no investment advice.
Disclaimer
Please be always aware that this content is no advice and no recommendation and make sure to read our disclaimer: good-investing.net/imprint/disclaimer