During Berkshire Hathaway’s annual meeting this Saturday, the CEO of the company Warren Buffett garnered the most attention. Warren Buffett was recently diagnosed with prostate cancer and the crowd of more than 30,000 people attending the meeting must have had that at the front of their minds. During the meeting Buffet tried hard to reassure the crowd about his health and termed it as a “non-event”.
Buffett said that his team of doctors detected his cancer early and that it doesn’t represent a serious threat to his life. “I may have a little less energy, but that may mean I do fewer dumb things,” Buffett said jokingly. The majority of the meeting revolved around Buffet’s health and his successor if the need arose. Buffet told shareholders though this year’s annual letter that the board has selected his successor in the case of any emergency and that there were two more back up candidates.
One of the highlights of the meeting was when Buffett revealed that he recently attempted to make an acquisition worth more than $20 billion and that he would have sold some of the company’s stock holdings to see the deal through. Although the target was not named, it is assumed that it would have been Berkshire’s second biggest takeover, just behind its $26.5 billion purchase of railroad company Burlington Northern Santa Fe in 2010.
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