The annual Berkshire Hathaway Inc BRKBRK shareholders meeting on Saturday, May 4, will be quite different without the late Vice Chairman Charlie Munger sitting beside legendary investor Warren Buffett.
But the event, dubbed "Woodstock for Capitalists,” will likely honor the late Munger, who passed away in November at the age of 99.
What Happened: Each year, the shareholders meeting, which takes place in Omaha, Nebraska, presents a secret movie to kick off the event. No photos or video are allowed of the film, which often includes skits from Buffett and Munger as well as celebrity cameos.
The company is changing that for 2024.
While portions of the meeting, including the question-and-answer segment have begun to be streamed live, this will be the first time the movie makes its way to the public.
"The broadcast on CNBC and webcast will began at 8:30 a.m. Central time and at 8:45 a.m. will feature Berkshire's Annual Meeting movie. In prior years the Annual Meeting movie was only seen by those in attendance at the meeting in Omaha," the company said in a press release.
Many fans of the company believe the video will be a tribute to Munger.
"For the first time EVER, $BRKA $BRKB will broadcast the annual meeting movie. I'd be willing to be all my BRK shares that it features a tear-jerker tribute to Charlie. This is going to be a memorable year," X user @BRK_student tweeted.
Related Link: Charlie Munger Will Be Absent From Warren Buffett’s Side Saturday: First Berkshire Hathaway Meeting Without The ‘Architect’
Why It Matters: One past secret movie skit reportedly featured Buffett and Munger debating on whether to invest in "internet stocks."
The film featured a cameo from Jamie Lee Curtis and had the actress referring to the legendary investor as "Warren All-You-Can-Eat Buffet."
A 2013 skit for the secret movie included Bryan Cranston and Aaron Paul in their roles as their “Breaking Bad” characters, Walter and Jesse. The segment featured the two cooking peanut brittle instead of meth. A still photo of the skit is one of the few to have leaked publicly from the secret movies.
The celebrity cameos and secret movie are only one aspect to the annual gathering. Others flock to the event to meet celebrities and key business leaders and also to get their hands on exclusive merchandise.
Arnold Schwarzenegger, Bill Murray and Glenn Close were among the celebrities to attend past events, according to the New York Post.
Business leaders like Apple CEO Tim Cook, JPMorgan CEO Jamie Dimon and Microsoft co-founder Bill Gates have also attended in years past.
While the annual event will be different without Munger, the public showing of a potential tribute movie could be a fitting farewell to Buffett’s legendary right-hand man.
Image: Midjourney
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