1. Berkshire Hathaway is a successful company with a vast array of subsidiaries and major equity investments.
2. Warren Buffet is a financial titan who has donated billions to charity and has a net worth of $112.1 billion.
Ladies and gentlemen, boys and girls, welcome to the greatest show on Earth – the Berkshire Hathaway Annual Shareholders Weekend! This year, we’re expecting tens of thousands of eager Warren Buffet fans to descend upon Omaha, Nebraska to bask in the wisdom of the Oracle of Omaha himself. Joined by his trusty sidekick, the feisty 99-year-old Charlie Munger, these two financial superheroes will entertain and enlighten their adoring masses for a whopping five hours. So, grab your popcorn and strap in – this event will be broadcast on CNBC and live-streamed on cnbc.com for your viewing pleasure.
First, let’s take a little trip down memory lane with a few fun facts about our beloved Warren Edward Buffett. Who would have guessed that this small-town boy from Omaha, born on August 30, 1930, would go on to become the sixth largest billionaire in the world, with a net worth of $112.1 billion? Move over Bernard Arnault; there’s a new financial titan in town! Our main man Warren managed to snag himself a tidy 15.6% ownership stake in Berkshire Hathaway, boasting an impressive 31.5% voting power. Not bad for a guy who started his empire by taking control of a struggling New England textile company in 1965.
Speaking of textile companies, let’s not forget the infamous Berkshire Hathaway quote that graced the halls of Congress in 1991: “Lose money for the firm, and I will be understanding. Lose a shred of reputation for the firm, and I will be ruthless.” It’s no surprise that Warren’s philanthropic pursuits have been just as ruthless. Since 2006, he’s generously donated a staggering $35.7 billion to the Bill & Melinda Gates Foundation and $10.7 billion to four family charities. Rest assured, his Berkshire shares won’t be left collecting dust after his death – they’ll be donated to charity as well.
Now, let’s turn our attention to the awe-inspiring behemoth that is Berkshire Hathaway. With a management team that includes the likes of Warren Buffett, Charlie Munger, Greg Abel, and Ajit Jain as Vice Chairs, and Todd Combs and Ted Weschler as Investment Managers, it’s no wonder the company has seen such incredible success. Despite a net loss of $22.82 billion in 2022, Berkshire Hathaway’s operating profit surged to $30.79 billion, a 12% increase from the previous year. Meanwhile, revenue climbed by 9% to a jaw-dropping $302.09 billion.
Today, Berkshire Hathaway holds an impressive market value of about $708 billion. And let’s not forget the 382,651 employees who keep the well-oiled machine running – including Warren himself, diligently working away in his 1921 Omaha home, currently valued at $1,003,500. With a vast array of subsidiaries under its umbrella, including Alleghany, Benjamin Moore, Brooks, Business Wire, and Clayton Homes, it’s no wonder that Berkshire Hathaway has become synonymous with success.
Finally, let’s take a moment to admire the company’s major equity investments, such as American Express, Apple, Bank of America, Chevron, Coca-Cola, Kraft Heinz, and Occidental Petroleum. When it comes to investing, Warren Buffett knows a thing or two about picking winners. And speaking of winners, let’s not forget the devoted fan base that eagerly awaits the wisdom of Warren and Charlie at this year’s Annual Shareholders Weekend. So get ready, Omaha – the financial circus is coming to town!