60 years at Berkshire: See Warren Buffett's 'Woodstock for Capitalists' over the decades

Business Mayor

02-05-2025

In this seven image composite, shareholders gather prior to the start of the Berkshire Hathaway annual meeting in Omaha, Nebraska, U.S., on Saturday, May 1, 2010.
Daniel Acker | Bloomberg | Getty Images
Berkshire Hathaway 's annual meeting is far different — and larger — than it was six decades ago, when Warren Buffett took over what was then a failing Massachusetts textile company.
Today's 'Woodstock for Capitalists' began with just a dozen attendees in 1965. Sixty years later, the Omaha, Nebraska gathering attracts as many as 40,000 people from around the world.
Nowadays, attendees begin lining up outside the CHI Health Center in the early morning hours on Saturday to hear from Warren Buffett, the 94-year-old chief executive officer. Known as the Oracle of Omaha for dispensing investment wisdom, Buffett is also famous for sharing insights into business and strategy, not to mention advice on softer topics such as friendship and life, to a rapt audience.
This year's shareholder meeting is Buffett's second without Charlie Munger, his close friend and business partner who died in 2023. Greg Abel, Berkshire Hathaway Energy chairman and Buffett's successor, will join him for questions on stage. Insurance Chief Ajit Jain will also join the pair for part of Saturday's question-and-answer event.
The event has ballooned into a weekend-long array of activities, including a shopping event known as the 'Berkshire Bazaar of Bargains,' featuring products made by the conglomerate's subsidiaries. A 5-kilometer run and value investing conferences have become hallmarks of attendees' weekend itineraries.
'You've just got event after event after event,' said Christopher Bloomstran, president of Semper Augustus Investments Group. Bloomstran, who's attended the annual meeting for more than two decades, called it a 'rite of passage' for new investors.
This year, the company is selling 5,000 volumes of a limited edition book, '60 Years of Berkshire Hathaway,' marking Buffett's tenure as CEO. Proceeds from an auction of copies signed by Buffett and author Carrie Sova will benefit the Stephen Center, a charity for homeless youth and adults in South Omaha.
The meeting itself will look different than what many attendees remember from years past, according to the 2024 shareholder letter. Buffett will make opening remarks at 8 a.m. local time Saturday, but there will be no movie introduction, a popular feature in prior years. The question-and-answer period will only have a half-hour break and end at 1p.m., though the shopping area will remain open until 4 p.m.
News outlets have covered the event for decades. The event will be broadcast exclusively by CNBC this year and webcast in English and Mandarin.
Regular attendees often say there's a magic and camaraderie to the in-person experience that keeps them coming back to Omaha, where Berkshire is headquartered, despite being able to livestream the event at home.
'It really is special,' said Adam Mead, CEO of Mead Capital Management and author of 'The Complete Financial History of Berkshire Hathaway.' ''I'm not a religious person, but it has that feel of going to church.'
The following are a collection of moments from meetings throughout the years compiled by CNBC in honor of Warren Buffett's 60 years leading Berkshire Hathaway.
Berkshire Hathaway's CEO Warren Buffett (L) and his business partner Vice Chairman Charles Munger answer questions at a news conference May 4, 2003 in Omaha, Nebraska.
Eric Francis | Getty Images
Warren Buffett, chairman of Berkshire Hathaway, plays the ukulele for a crowd of shareholders at the Fruit of the Loom booth during the Berkshire Hathaway annual meeting in Omaha, Nebraska, Saturday, April 30, 2005.
Eric Francis | Bloomberg | Getty Images
In this seven image composite, shareholders gather prior to the start of the Berkshire Hathaway annual meeting in Omaha, Nebraska, U.S., on Saturday, May 1, 2010.
Daniel Acker | Bloomberg | Getty Images
Warren Buffett, chairman of Berkshire Hathaway Inc., sings a song with University of Nebraska cheerleaders during an event at the Berkshire Hathaway annual shareholders meeting in Omaha, Nebraska, U.S., on Saturday, May 5, 2012.
Daniel Acker | Bloomberg | Getty Images
Warren Buffett, chairman of Berkshire Hathaway Inc., holds a large ping pong paddle as he plays table tennis with Ariel Hsing, a member of the 2012 U.S. Olympic team, during an event at the annual shareholders meeting in Omaha, Nebraska, U.S., on Sunday, May 6, 2012.
Daniel Acker | Bloomberg | Getty Images
Warren Buffett, Berkshire Hathaway Inc. chairman and chief executive officer, right, talks with Bill Gates, billionaire and co-chair of the Bill and Melinda Gates Foundation, as they tour the exhibition floor during the Berkshire Hathaway Inc. annual shareholders meeting in Omaha, Nebraska.
Daniel Acker | Bloomberg | Getty Images
Caricatures of Warren Buffett, Berkshire Hathaway Inc. chairman and chief executive officer, and Charles Munger, vice chairman of Berkshire Hathaway Inc., appear on a special edition package of Heinz ketchup and mustard during the Berkshire Hathaway Inc. annual shareholders meeting in Omaha, Nebraska, U.S., on Saturday, May 2, 2015.
Daniel Acker | Bloomberg | Getty Images
The Brooks Invest in Yourself 5K Run at the 2018 Berkshire Hathaway Annual Shareholder's Meeting in Omaha, NE.
David A. Grogan | CNBC
Warren Buffett speaks with the media during the 2019 BHASM in Omaha, NE on May 4th, 2019.
Gerard Miller | CNBC
A salesperson wears pins of Warren Buffett, CEO of Berkshire Hathaway, and Vice Chairman Charlie Munger during the annual Berkshire shareholders meeting in Omaha, Nebraska, May 3, 2019.
Johannes Eisele | AFP | Getty Images
Display for Brooks showing Warren Buffett at the Berkshire Hathaway Annual Shareholder Meeting in Omaha, Nebraska.
Yun Li | CNBC
Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2024.
David A. Grogen | CNBC