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Buffett plans in-person Berkshire annual meeting as Omicron wave crests -Breaking


© Reuters. FILEPHOTO: Chairman of Berkshire Hathaway Warren Buffett (left), and Vice Chairman Charlie Munger, are seen in Omaha, Nebraska on May 3, 2019, at the Berkshire shareholder shopping event. REUTERS/Scott Morgan/File Photo

Jonathan Stempel

(Reuters) – Warren Buffett’s Berkshire Hathaway (NYSE) Inc has plans to allow shareholders to the annual meeting this year for the first-time in three years amid indications that Omicron may have reached its peak in the United States.

The Omaha-based conglomerate, which is headquartered in Nebraska, released a statement Tuesday stating that they were planning to hold an “in-person” meeting on April 30 and also plan to webcast the event for the seventh consecutive year.

Even though large corporate gatherings are not yet online or have been delayed due to the Omicron infection, it was still announced.

But new coronavirus cases are dropping within the United States, and the top U.S. infectious disease specialist Anthony Fauci told MSNBC on Monday he believed “in the next few weeks we will see, as a country, that it is all turning around.”

Berkshire’s Annual Shareholder Weekend, which is usually the centerpiece of the event, draws approximately 40,000 shareholders to Omaha every year for shopping, dining and other activities. Buffett describes it as Woodstock for Capitalists.

The meeting usually features Buffett at 91 and Charlie Munger, Berkshire Vice Chairman, at 98 answering many hours of shareholder questions.

Berkshire’s 2020 meeting featured Buffett and Berkshire Vice Chairman Greg Abel answering questions in Omaha, while the 2021 meeting moved to Los Angeles so Munger, who lives in the area, could join Buffett on stage. The shareholders stayed at home for both.

Buffett stated at the meeting in 2021, “I hope and I believe the odds are very very good that this year’s event will be held in Omaha, and that I expect a record-breaking turnout.”

Berkshire stated that it would release additional details about the meeting in its annual shareholder report, which will be released on February 26.

Berkshire was founded by Buffett in 1965. Berkshire is home to several businesses such as Geico insurance for cars and BNSF railroad. There are also stocks like Apple Inc (NASDAQ;) and Bank of America Corp.

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