Warren Buffett broke tradition at the Berkshire Hathaway annual meeting with a rare public nod to a CEO outside his own company — and not just any CEO.
“I think I’ll do something else that isn’t done usually at annual meetings,” Buffett said from the stage. “It’s the only investment quarterly call that I listen to, but I listen to Tim Cook — and I understand.”
Buffett then singled out the Apple CEO in the crowd.
“It’ll be tough for me to see him from up here, but Tim Cook, there he is.”
What followed was a striking admission: “I’m somewhat embarrassed to say that Tim Cook has made Berkshire a lot more money than I’ve ever made Berkshire Hathaway. I thought credit should be given to him for that.”
Buffett, who has long called Apple Berkshire’s “third business,” reflected briefly on the company’s legendary co-founder.
“I knew Steve Jobs briefly… Nobody but Steve could have created Apple,” he said. “But Steve picked out Tim to succeed him — and he really made the right decision.”
Buffett closed the tribute simply: “On behalf of all of Berkshire, thank you.”
As of May 2025, Berkshire Hathaway holds approximately 300 million shares of Apple Inc., valued at around $62 billion. This stake represents about 2% of Apple's outstanding shares and remains Berkshire's largest single equity holding.
Berkshire began acquiring Apple shares in the first quarter of 2016, initially purchasing 9.8 million shares worth about $1 billion. Over the next few years, the company significantly increased its position, with the stake growing to 908 million shares by the end of 2021.
Berkshire's total investment in Apple amounted to approximately $35 billion between 2016 and 2018. By the end of 2023, this investment had appreciated to $173 billion, marking a gain of about 418% .
In 2024, Berkshire sold about two-thirds of its Apple holdings, reducing the stake to 300 million shares. Despite this reduction, Apple remains the most significant equity investment in Berkshire's portfolio.
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