Warren Buffett’s conglomerate Berkshire Hathaway posted a loss of $49.7 billion in the first quarter of 2020, The New York Times reports. The loss was largely attributed to large stakes in industries hit hard by the coronavirus like financial services and airlines, mirroring the toll the virus has taken on the stock market as a whole. A year prior, the company posted a profit of $21.7 billion. In another sign of the changing times, the company held an online-only shareholder meeting for the first time ever.