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Warren Buffett, Berkshire Hathaway at a glimpse

10s of countless people descended on Omaha, Nebraska to attend the yearly investor weekend for billionaire Warren Buffett's Berkshire Hathaway.

Buffett, 93, and Vice Chairman Greg Abel, 61, are expected to respond to five hours of shareholder concerns at Berkshire's. yearly meeting on Saturday. Vice Chairman Ajit Jain, 72, will. join them in the first 3 hours.

Abel is anticipated to be successful Buffett as chief executive. The. conference is the very first given that long time Vice Chairman Charlie Munger. died in November at age 99. It will be relayed on CNBC and. livestreamed on cnbc.com.

Here are some truths about Buffett and Berkshire.

REALITIES ABOUT WARREN EDWARD BUFFETT

Born: Aug. 30, 1930, in Omaha

Education: University of Nebraska-Lincoln, Columbia Company. School

Family: Buffett has been married to Astrid Menks since 2006. His very first spouse Susan Thompson Buffett passed away in 2004, and he had. three kids with her: Susan, Howard and Peter. Susan Buffett. and Howard Buffett are Berkshire directors.

Net worth: $132.5 billion as of May 2, ranking 8th. worldwide. Bernard Arnault, who leads high-end products business LVMH. Moet Hennessy Louis Vuitton, and his family ranked. first. (Source: Forbes)

Berkshire ownership stake: 15.1% since March 6

Berkshire voting power: 31.2% since March 6

How Buffett took charge: In 1965, Buffett was a shareholder. in Berkshire, then a struggling New England textile company. He. consented to sell back his shares for $11.50 each, but management. provided a term sheet that showed $11.375. That outraged Buffett,. and he decided to buy all the shares he could. He won control of. Berkshire on May 10, 1965. The textile service closed in 1985.

Famous Buffett quote: Lose money for the firm, and I. will be comprehending. Lose a shred of reputation for the firm,. and I will be ruthless. - Sept. 4, 1991 congressional testament. about Salomon Inc, where Buffett ended up being interim chairman to. restore order after a Treasury auction bidding scandal.

Philanthropy: Buffett has actually since 2006 contributed about $39.3. billion to the Costs & & Melinda Gates Foundation and $12.7 billion. to 4 household charities. He has said 99%- plus of his fortune. will go to philanthropy over about a decade after he dies.

Home: Buffett has lived since 1958 in the same home on a. well-trafficked Omaha street and does much of his work there. Integrated in 1921, the five-bedroom, 2-1/2- bath home on 0.72 acres. was examined at $1,224,500 in 2024, up from $1,003,500 in 2023. Annual taxes are $21,172. (Source: Douglas County, Nebraska)

Diet: Buffett likes steaks and consumes candies from See's,. which Berkshire owns. He approximates that one-fourth of his. calories originate from Coca-Cola, a long time Berkshire financial investment.

Buffett on Berkshire's objective: We wish to own either all or a. part of organizations that enjoy good economics that are. fundamental and withstanding ... We especially prefer the unusual. enterprise that can deploy extra capital at high returns in. the future ... We likewise hope these preferred businesses are run by. able and reliable supervisors, though that is a harder. judgment to make, however, and Berkshire has had its share of. dissatisfactions. (Shareholder letter, Feb. 24)

FACTS ABOUT BERKSHIRE HATHAWAY

Leadership: Warren Buffett, chairman and chief executive. officer; Greg Abel and Ajit Jain, vice chairmen; Todd Combs and. Ted Weschler, financial investment managers.

2023 earnings: $96.22 billion, consisting of $58.87 billion of. investment gains

2023 running income: $37.35 billion, up 21% from 2022

2023 profits: $364.48 billion, up 21% from 2022

2023 share repurchases: $9.2 billion

Stock price: $606,413.45 per Class A share as of May 2. Class B shares are worth about 1/1,500 th as much.

Market price: about $867 billion as of May 2, 2024, based upon. reported shares impressive

Intensified annual gain from 1965-2023: stock price: 19.8%;. S&P 500 including dividends: 10.2% (pre-tax)

Total gain from 1965-2023: stock rate: 4,384,748%; S&P. 500 including dividends: 31,223% (pre-tax)

Chosen services: Alleghany, Benjamin Moore, Berkshire. Hathaway Automotive, Berkshire Hathaway Energy, Berkshire. Hathaway Specialized Insurance Coverage, BNSF, Borsheims Fine Jewelry,. Brooks, Business Wire, Clayton Residences, Duracell, Forest River,. Fruit of the Loom, Geico, General Re, HomeServices of America,. IMC International Metalworking, International Dairy Queen,. Jazwares, Johns Manville, Lubrizol, Marmon, McLane, National. Indemnity, Nebraska Furnishings Mart, NetJets, Asian Trading,. Pampered Chef, Pilot Travel Centers, Accuracy Castparts, See's. Sweets, Shaw Industries

Selected acquisitions: See's Candies, $25 million (1972 );. Geico, $2.3 billion (1996 ); Dairy Queen, $590 million (1998 );. General Re, $15.9 billion (1998 ); NetJets, $725 million (1998 );. Clayton Residences, $1.7 billion (2003 ); PacifiCorp, $5.1 billion. ( 2006 ); Iscar, $6.1 billion (2006-2013); Marmon, $8.9 billion. ( 2008-2014); Burlington Northern Santa Fe, $26.5 billion (2010 );. Lubrizol, $9 billion (2011 ); NV Energy, $5.6 billion (2013 );. H.J. Heinz, $12.1 billion (bulk stake, 2013); Van Tuyl (now. Berkshire Hathaway Automotive), $4.1 billion (2015 ); Precision. Castparts, $32.1 billion (2016 ); Duracell, $2.9 billion (2016 );. Pilot Travel Centers, $13.6 billion (2017-2024); Alleghany,. $ 11.5 billion (2022 ). (Sources: Barclays, Berkshire)

Major stock financial investments: American Express, Apple, Bank of. America, Chevron, Coca-Cola, Kraft Heinz, Occidental Petroleum. Berkshire likewise has around 9% stakes in Japan's five. largest trading houses.

Staff members: 396,440

Employees in primary workplace: 26, including Buffett

Annual meeting participation: 12 (1965 ), about 24 (1979 ), 1,000. ( 1986 ), 4,100 (1995 ), 13,000 (2000 ), 21,000 (2005 ), 42,000. ( 2015, Buffett's 50th anniversary running Berkshire). (Sources:. Omaha World-Herald, Berkshire, )

REALITIES ABOUT MANAGEMENT, OUTLOOK

Succession: Buffett has not openly signaled any plans to. retire. Abel is anticipated to end up being CEO when Buffett retires,. can not continue or passes away. Combs, who has also been Geico's chief. executive because 2020, and Weschler may prosper Buffett as chief. investment officer. Buffett's eldest boy, Howard, is anticipated to. end up being non-executive chairman.

Management duties: Abel and Jain have day-to-day. oversight of Berkshire's non-insurance and insurance coverage units,. respectively. Combs and Weschler deal with some stock financial investments. Buffett deals with major capital allotments and investments.

Buffett on handling risk: It's my job to consider dangers. that nobody else thinks about. (Interview with CNBC, April 12,. 2023)

Buffett on outlook for investors: Berkshire must do a. bit much better than the typical American corporation and, more. essential, need to likewise run with materially less danger of. permanent loss of capital. Anything beyond 'somewhat much better,'. however, is wishful thinking. (Investor letter, Feb. 24)

Abel on stock buybacks after Buffett's departure: We really. don't see that framework changing. When the opportunity presents. itself, we'll want to be an active repurchaser of Berkshire. shares. (Berkshire yearly meeting, May 6, 2023)

Jain on reinsurance exposure to a significant Florida hurricane:. We could lose, across all the units, as much as $15 billion. And if there isn't a loss, we'll make several billion dollars as. profit ... Given that we have about a little less than $300. billion of capital, we think of that as a 5% exposure that we're. ready to take on. (Berkshire annual conference, May 6, 2023)

(source: Reuters)