Abel leads first Berkshire meeting

Greg Abel has presided over his first annual Berkshire Hathaway shareholder meeting as CEO, marking a new era for the conglomerate following the retirement of Warren Buffett.

Addressing thousands of investors in Omaha, Abel moved to assure shareholders of the company's long-term stability and continued adherence to Buffett's value-investing principles.

The meeting occurred as Berkshire reported record cash reserves of nearly $400 billion, providing Abel with significant firepower for future acquisitions.

While Buffett was present in an advisory capacity, the spotlight remained on Abel as he navigated questions on the company's energy investments and its massive stake in Apple.