Latest news with #HathawayAnnualShareholdersMeeting
Business Mayor
08-05-2025
- Business
- Business Mayor
Autographed Warren Buffett books fetch as much as $100,000 at Berkshire meeting auction
The Berkshire Hathaway 60th Anniversary book seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC OMAHA, Neb. — Transpacific wire transfers. Checks arriving unexpectedly in the mail. People standing at the ready, poised to shell out tens of thousands of dollars. Such was the scene in the months leading up to and during Berkshire Hathaway 's annual meeting last weekend. The chance to obtain memorabilia signed by legendary CEO Warren Buffett sent shareholders on a mad dash to participate in a silent auction during what turned out to be a monumental gathering. In true Buffett fashion, it was all for a local charity serving his native Omaha. Attendees of the annual meeting could buy an exclusive anniversary book titled '60 Years of Berkshire Hathaway' on site. However, 18 copies signed by Buffett and author Carrie Sova, were only available via an auction to benefit Stephen Center, a shelter serving the Nebraska city where Berkshire is headquartered. Buffett pledged to match every dollar raised for the organization, which offers housing and addiction recovery programs. With the 94-year-old's contribution, the event raised more than $1.3 million, according to Chris Knauf, CEO of the Stephen Center. 'There are truly no words that can adequately express mine and our gratitude for this incredible generosity,' Knauf told CNBC in an interview. 'It's just phenomenal.' In the first phase, eight books were auctioned online ahead of the meeting, with the highest bid $100,000. Then, on Friday and Saturday, 10 books were auctioned during the 'Berkshire Bazaar of Bargains' event. More than 50 bids came in, with some as high as $60,000. The book took on an unexpected significance after Buffett shocked the investing world during the event with a surprise announcement that he planned to step down from the CEO role at year-end. Warren Buffett does a walkthrough of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025. David A. Grogen | CNBC Knauf said two additional signed books were set aside for donors who were friends with the late Charlie Munger. Buffett's longtime business partner was featured prominently in the publication. That brought the total number of signed copies supporting the Stephen Center to 20. One of the winning bidders was Matthew Rodriguez, a 43-year-old real estate professional. Rodriguez said he monitored the online auction's leaderboard, then pulled the trigger with a $50,000 bid about 15 minutes before it closed. 'It's going to be a pretty priceless artifact in my library,' Rodriguez said. As a self-proclaimed 'fan boy' of Buffett, Rodriguez said he was excited to support an organization with the billionaire investor's stamp of approval and liked that every dollar he could contribute would be matched. Because Rodriguez lives in Omaha, he was also familiar with the Stephen Center's local impact. Wires from Singapore Rodriguez was one of several donors to quickly reached out to the center after Buffett first announced the initiative in the company's annual shareholder letter released in February. The 'Oracle of Omaha' shared details about the book and the plan to fundraise for the local group in the letter, but did not explicitly lay out the steps for obtaining a signed edition. Before shareholders realized there was an auction, some sent checks directly to the charity in case it ended up being first-come, first-serve, Knauf said. When Stephen Center representatives called to let them know the process, some who weren't planning on coming to the meeting told them to keep the money as donations, citing their affection for Buffett, he said. 'What Mr. Buffett has done for me, what Mr. Buffett has done for my family, is immeasurable,' Knauf recalled hearing in these conversations with shareholders. 'If the least we can do is write a check for this charity, then we want to do it.' The Stephen Center ended up collecting more than $45,000 from donors tied to Buffett and the annual meeting outside of the auction. Beyond monetary support, Knauf said he expects Buffett's selection of the center to help spread awareness of the role of shelters play in local communities. 'We are a homeless shelter and addiction recovery campus in Omaha, Nebraska,' Knauf said. 'Did I ever think that we would be doing wire transfers from Singapore? I did not.' Shareholders enter the venue on the day of the Berkshire Hathaway Inc annual shareholders' meeting, in Omaha, Nebraska, U.S., May 3, 2025. Brendan McDermid | Reuters Helping the homeless A portion of the funds will help support a renovation of the space housing an addiction recovery program, Knauf said. Other donations will go toward construction of a women and children's center, he said. These plans come as the organization tries to aid the growing community of unhoused people in Omaha, Knauf said. He pointed to data from an annual count showing the homeless population has grown nearly 10% from last year, with what he called a particularly substantial spike in families, children and senior citizens. For shareholder Jay Ji, this mission hit close to home after his family experienced economic troubles as a child. The investment manager placed a winning bid of around $20,150 and toured the Stephen Center to see first-hand where the money would go. 'I want to just do my part,' the 43-year-old said. 'I'm more determined to try to find ways to to make sure that … fewer families will experience those kind of hardships, and whenever possible, to deploy some resources to help.' In addition to the signed books, Buffett said during his famous annual question-and-answer session that Berkshire sold around 8,000 copies of the anniversary book at the meeting. A legacy of giving back Also new to this year's gathering was a gigantic claw crane, which shareholders could pay $10 for a chance to win prizes tied to Berkshire's holding companies. Proceeds from the crane benefit Hope Center for Kids, an Omaha-based organization providing after-school and summer care for children. Both efforts underscore Buffett's decades-long emphasis on charitable giving. For more than two decades, Buffett had auctioned off a private lunch to benefit San Francisco-based nonprofit Glide. The final winner of this event in 2022 shelled out more than $19 million. Taken together, the Berkshire CEO's 21 lunches collectively raised more than $53 million. The Pilot truck simulator seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Buffett has long pledged to give 99% of his personal fortune to charity. He argued against creating family wealth dynasties by leaving colossal inheritances in a letter last year. 'I've never wished to create a dynasty or pursue any plan that extended beyond the children,' Buffett wrote in the letter. 'I know the three well and trust them completely. Future generations are another matter. Who can foresee the priorities, intelligence and fidelity of successive generations to deal with the distribution of extraordinary wealth amid what may be a far different philanthropic landscape?'
Time of India
03-05-2025
- Business
- Time of India
'Trade should not be a weapon': Warren Buffett warns US against weaponizing trade at 2025 Berkshire AGM
Warren Buffett (File photo) Warren Buffett used the spotlight at the 2025 Berkshire Hathaway Annual Shareholders Meeting to issue a pointed warning: 'Trade should not be a weapon.' Reaffirming his globalist economic philosophy, the legendary investor defended his 2003 'import certificates' idea while criticizing rising protectionist sentiments and tariffs, which he now views as acts of 'economic war. ' Buffett's comments came in response to a shareholder question referencing his 2003 Fortune article, where he had proposed a trade-balancing mechanism involving import certificates. Speaking to thousands gathered in Omaha, he clarified the distinction 'The import certificates were distinct [from tariffs], but their goal was to balance imports against exports so that the trade deficit would not grow in an enormous way.' He emphasized that the core intent was to promote balanced global trade while including safeguards to support developing economies: 'They had various other provisions in it to help third world countries… but basically, they were designed to balance trade.' While acknowledging that the plan gained little traction — even with his longtime partner Charlie Munger, who found the concept 'a little too much like Rube Goldberg' — Buffett stood by the underlying principle: 'You can make very good arguments for the fact that balanced trade is good for the world… and the more balanced trade there is, the better.' Buffett reflected on America's transformation from a purely agricultural economy into a global industrial power over the last 250 years. But he expressed concern about the growing use of trade policy as a geopolitical tool, cautioning, 'There's no question that trade can be an act of war. And I think it's led to bad things — just the attitudes it's brought out in the United States.' He warned of the risks of nationalism and economic triumphalism in a nuclear world: 'We want a prosperous world. With eight countries with nuclear weapons — including a few that are quite unstable — I don't think it's a great idea to design a world where a few countries say, 'Ha ha, we've won.'' Buffett underlined the importance of cooperation, suggesting that global prosperity would benefit the US, not hurt it: 'The more prosperous the rest of the world becomes, it won't be at our expense — the more prosperous we'll become. And the safer we'll feel, and your children will feel someday.' He joked that his proposal wouldn't be enshrined alongside economic classics like Adam Smith's Wealth of Nations, adding: 'Don't expect my import certificate idea to go down there… but if anyone wants a copy, we've probably got extras.' Buffett concluded by calling for a return to constructive trade relationships built on mutual benefit, not zero-sum competition. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Mayor
03-05-2025
- Business
- Business Mayor
Berkshire meeting 'bazaar' features Buffett Squishmallows, 60th anniversary book and giant claw machine
The welcome sign at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. David A. Grogen | CNBC OMAHA, Nebraska — Berkshire Hathaway shareholders are getting more bang for their buck at this year's meeting with the annual shopping event more interactive than ever. The conglomerate's yearly convention kicked off Friday with a shareholder-only shopping event, called the 'Berkshire Bazaar of Bargains.' With over 20,000 square feet of showroom space at the CHI Health Center in downtown Omaha, the exhibit hall is offering goods from a myriad of the conglomerate's holdings, including Warren Buffett-themed apparel from Brooks Sports and Berkshire chocolate coins from See's Candies. Buffett will take the stage 9am ET Saturday to address the most pressing issues investors face, including tariffs, the market volatility as well as the state of the economy. The 94-year-old investment legend will answer shareholder questions along with his designated successor, Greg Abel, and Berkshire's insurance chief, Ajit Jain. The Q&A session will be broadcast exclusively on CNBC. Plush Warren, Charlie and Omaha Squishmallows in the images of Warren Buffett, Charlie Munger and Omaha at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC Plush toy phenomenon Squishmallows once again stole the show. The ones modeled after the 'Oracle of Omaha' and the late Charlie Munger became the biggest hits at the shopping event, as shareholders snapped up over 1,000 snuggly dolls per hour. This year, Squishmallows also introduced a new limited-edition dog character called 'Omaha.' The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC Berkshire inherited Squishmallows parent Jazwares through its acquisition of Alleghany in the fourth quarter of 2022. These squishy toys became an instant sensation during the pandemic partly thanks to celebrity endorsements. In 2022 alone, the firm sold a whopping 100 million Squishmallow units — with prices ranging from $5 to $30. At the shopping event, the company put on display its newest product — pillows for both kids and adults —slated to launch this summer. Berkshire shareholders get to buy special edition pillow cases featuring Buffett and Munger's cartoon figures. One very special book The Berkshire Hathaway 60th Anniversary book seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC The Berkshire Hathaway 60th Anniversary book seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Only one book is for sale at Berkshire's book store Bookworm this year, 60 Years of Berkshire Hathaway, to commemorate the decades since Buffett took over what was then a failing Massachusetts textile company Berkshire is selling 5,000 volumes of the limited edition book. 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. Satisfying the sweet tooth See's Candies display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. David A. Grogen | CNBC See's Candies, one of Berkshire's most-iconic brands, had shelves of themed chocolate concoctions available for purchase. Tied to the camping theme for this year's meeting, See's sold a box of toasted marshmallow-flavored chocolates. The box was adorned with an illustration of Buffett next to a campfire. Other items for sale included chocolate coins with wrappers embossed with Buffett's face, as well as the company's famous peanut brittle. Room for dessert? The Dairy Queen display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. David A. Grogen | CNBC Dairy Queen, which Berkshire Hathaway acquired in 1998, provided a sweet treat for attendees while they racked up steps at the bazaar. The ice cream chain's Dilly Bars were sold for $1, while the Buster Bar went for $2. Running shoes The Brooks Running display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. David A. Grogen | CNBC Brooks Running shoes on display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Brooks Running hats on display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Long lines formed at Brooks Running as shareholders gravitated towards the 2025 special edition of its running shoes with special 'Berkshire Hathaway' branding on the side and the insoles. Many shareholders are also set to participate in the Brooks 'Invest in Yourself' 5K fun run and walk on Sunday, the morning following the annual meeting. Live from Omaha Signage at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Attendees waited in line to take photos in front of CNBC's stage, where reporters like Mike Santoli and Becky Quick have been reporting. CNBC is the exclusive broadcaster for the meeting and has a livestream available online in English and Mandarin. Claw Crane Feeling lucky? New to the bonanza floor this year was a gigantic claw machine. For $10, attendees could try their luck at scooping up prizes tied to several of Berkshire's holding companies. Proceeds go to the Hope Center for Kids, an Omaha-based organization providing after-school and summer care for children. Living the lavish life The NetJets display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. David A. Grogen | CNBC NetJets, which Berkshire bought in 1998, took shareholders inside a private plane. The private jet operator also sold company-branded gear. Getting it all home Crowds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Alex Harring | CNBC Not enough space for plush toys, jewelry, running shoes and books in your carryon? AIT Worldwide Logistics has you covered. The shipper offered shoppers the service of having their purchases packed and sent home. It should be a popular service, with attendees seen lugging around Squishmallow bags that were equivalent in size to a child. Bling-bling A jewelry display from Borsheims is seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC A jewelry display from Borsheims is seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025. Yun Li | CNBC About 14 miles away from the main convention center, there's a separate shareholder-only shopping event at jewelry story Borsheims. Berkshire shareholders browsed through one-of-a-kind jewelry, engagement rings and watches available for purchase at a discount. This 24-carat black diamond necklace from Ruchi New York is selling for about $25,000.
