Warren Buffett told FOX Business on Wednesday night, that while his plan is to wait until “around April 1st” to make an official announcement about whether the May 2nd Berkshire Hathaway shareholder meeting in Omaha, Nebraska will take place in its regular form, no matter what.
"At least 3 people will be there: I’ll definitely be there, along with someone to make the motions and someone to second the motions, but we don’t know how this will play out because (the virus situation) moves by the hour.”
Buffett made his comments to FOX Business prior to President Trump's address to the nation.
The annual shareholder meeting, known as ‘Woodstock for Capitalists,’ is the largest in the world. Last year it drew 40,000+ attendees from around the globe, including a massive contingent from Asia--specifically China and South Korea.
Shareholders descend on Omaha from Australia, Europe and South America as well. They flood the exhibition floor at the former CenturyLink Arena, now called CHI Health Center Arena, before the Saturday meeting to catch a glimpse of the man known as the world’s most successful investor.
Buffett told FOX Business he and Berkshire will be very cognizant of what public authorities say or deem about whether to hold the massive gathering.
“We could be ordered by Departments of Health from both Douglas County and the state of Nebraska to cancel or scale back,” said the Oracle of Omaha.
Berkshire Hathaway has been a publicly traded company for 56 years and has a number of elderly shareholders. Ever mindful of that, Buffett said he’s got them in his mind, as well as all shareholders, board directors and employees of the more than 70+ companies under the Berkshire umbrella who fill the arena.
When reminded that he’s 89 years old and himself in the target zone for those susceptible to catching the Coronavirus,
Buffett, joked, “When the authorities order me to work from home, I tell them my home is the office.”
Buffett said shareholders should check the Berkshire Hathaway website for any official changes or developments regarding the annual shareholder meeting.