Warren Buffett will host tens of thousands of people in Omaha, Nebraska from May 3-5 at what he calls “Woodstock for Capitalists,” the annual shareholder weekend for his company, Berkshire Hathaway Inc.
The weekend features shopping discounts, a five-kilometer run and a cocktail reception that occupies an entire shopping mall. Investor conferences focused on Berkshire and “value” investing are also scattered around the city.
At Berkshire’s annual meeting on May 4, Buffett and Vice Chairman Charlie Munger will answer more than five hours of shareholder questions. The meeting will be broadcast on Yahoo Finance.
FACTS ABOUT WARREN EDWARD BUFFETT
Born: Aug. 30, 1930
Education: University of Nebraska-Lincoln, Columbia Business School
Family: Buffett married his wife, Astrid Menks, on August 30, 2006, his 76th birthday. Buffett’s first wife Susan died in 2004. They had three children: Susan, Howard and Peter.
Net worth: $82.5 billion on April 30, 2019, ranking third worldwide. Microsoft Corp co-founder Bill Gates, a Berkshire director since 2004, ranked second. Amazon.com Inc Chief Executive Jeff Bezos and his family ranked first. Amazon, Berkshire and JPMorgan Chase & Co are working on a venture called Haven to lower employee healthcare costs. (Source: Forbes)
Berkshire ownership stake: 16.5 percent as of March 6, 2019
Berkshire voting power: 31.4 percent as of March 6, 2019
How Buffett came to run Berkshire: In 1965, Buffett had planned to sell back his shares in Berkshire, then a struggling New England textile company, for $11.50 each. But when the term sheet showed a price of $11.375 per share, he got angry, and bought all the shares he could. He won control of Berkshire on May 10, 1965. The textile business closed in 1985.
Diet: Likes steaks and junk food. Estimates that one-fourth of his caloric intake comes from Coca-Cola.
Buffett on reducing his workload as he’s aged: “I’ve been semi-retired for decades.” (2018 annual meeting)
FACTS ABOUT BERKSHIRE HATHAWAY
Leadership: Warren Buffett, chairman and chief executive officer; Charlie Munger, Gregory Abel and Ajit Jain, vice chairmen; Todd Combs and Ted Weschler, investment managers
2018 net income: $4.02 billion, reflecting $17.5 billion of investment losses and a $3 billion writedown on its 26.7 percent Kraft Heinz stake
2018 operating income: $24.78 billion
2018 revenue: $247.84 billion