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

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

Business Mayor02-05-2025

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

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Banking fees and trading revenue for one of the world's largest investment banks is expected to climb this quarter despite the concerns that surround US tariffs, Citigroup's (C) head of banking Vis Raghavan said on Tuesday. Raghaven added, that M&A activity continues to be active but the IPO market has been "stagnant." Reuters reports: Read more here. The World Bank cut its global growth forecast for 2025 on Tuesday by 0.4 percentage point to 2.3%. The international financial institution, which provides loans to governments said that high tariffs and uncertainty were a "significant headwind" for nearly all economies. Reuters reports: Read more here. Yahoo Finance's Alexis Keenan reports: Read more here. On Tuesday, US Commerce Secretary Howard Lutnick said trade negotiations with China were going well, as the two sides met in London for a second day of talks. Reuters reports: Read more here. The CEO of Freeport-McMoRan Inc. (FCX), North America's top producer of copper has warned that tariffs could hurt an industry that President Trump is trying to help. Bloomberg News reports: Read more here. Reuters reports: Maruti Suzuki has cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds because of rare earths shortages, a document showed, in the latest sign of disruption to the auto industry from China's export curbs. India's top carmaker, which said on Monday it had not seen any impact yet from the supply crisis, now plans to make about 8,200 e-Vitaras between April and September, versus an original goal of 26,500, according to a company document seen by Reuters. It cited "supply constraints" in rare earth materials that are vital in making magnets and other components across a range of hi-tech industries. Read more here. Both the US and China are finding new tools to use as bargaining chips within trade negotiations. 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Reuters reports: Read more here. Bloomberg reported that trade talks between the US and China will resume tomorrow morning at 10 a.m. in London after six hours of negotiations on Monday. US officials were looking for a "handshake" on Monday, National Economic Council director Kevin Hassett told CNBC, as the two sides look to ease tensions over tech and rare earths. President Trump weighed in on the progress, telling reporters on Monday: "We are doing well with China. China's not easy. ... I'm only getting good reports.' Treasury Secretary Scott Bessent, meanwhile, said it was "good meeting" and Commerce Secretary Howard Lutnick called the talks "fruitful," sending an upbeat signal on the talks' progress. The Chinese delegation, led by Vice Premier He Lifeng, did not comment on the talks. From Bloomberg: Read more here. The number of ocean containers from China bound for the US fell precipitously in May when President Trump's 145% tariffs on Chinese goods were in effect. Supply chain technology company Descartes said Monday that seaborne imports from China to the US dropped 28.5% year over year, the sharpest decline since the pandemic, per Reuters. Overall, US seaborne imports fell 7.2% annually in May to 2.18 million 20-foot equivalent units. The decline snaps a streak of increases fueled by companies frontloading goods to avoid higher duties, which has kept US seaports, such as the Port of Long Beach, busy. "The effects of U.S. policy shifts with China are now clearly visible in monthly trade flows," Descartes said in a statement. Read more here. In today's Chart of the Day, Yahoo Finance's Josh Schafer writes that tariff headlines have been rattling markets to a lesser degree than they did in April, despite an escalation of trade tensions recently: Sign up for the Morning Brief newsletter to get the Chart of the Day in your inbox. 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