Legendary investor Warren Buffett is known best as the CEO and Chairman of Berkshire Hathaway Inc BRKBRK. He’s also known for a simplistic lifestyle, including living in the same house in Nebraska, Omaha since 1958.
What Happened: Thousands of investors recently traveled to Omaha, Nebraska for the annual Berkshire Hathaway shareholders meeting, which was the first without Charlie Munger sitting by Buffett's side after his passing in November.
CNBC journalist Ryan Ermey was among the people who traveled the event known as the "Woodstock for Capitalists." Before the gathering, Ermey met up with author David Clark who has written several books on Buffett and Munger.
Clark, a native Nebraskan, gave Ermey a tour of Omaha and the surrounding area. The tour started at the Happy Hollow Country Club, which counts both Clark and Buffett as members.
"Yeah, he comes in here all the time," a bartender told Ermey of Buffett.
The bartender said Buffett never drinks booze or eats vegetables and drinks Cherry Coke.
Clark told Ermey that the annual shareholders meeting has become a gathering place for the wealthy and those aspiring to be wealthy.
"There's your multibillionaires. There are your guys with a billion, your guys with $100 million. Then it all goes down to the people who want to be rich," Clark said.
Clark said that the meeting also increases interest in some of Buffett's favorite places, like steakhouse Gorat's, where reservations are near impossible to get around the time of the annual meeting.
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Touring Omaha: The journalist toured Omaha with Clark, who has first-hand knowledge of the city and a personal connection to Buffett, as both his family and the Buffetts are long-time family friends.
Clark said that he was friends and a classmate of Buffett's son Peter. Clark told Ermey that his early memories of Warren Buffett were of the legendary investor being "someone's dad."
The tour included seeing multiple homes of prominent Omaha residents like doctors and restaurant owners.
"They were early Berkshire investors," Clark said. "They're billionaires now."
The CNBC author questioned why the billionaires didn’t relocate from the city. Clark explained that people in Omaha maintain friendships with their high school peers and, while they may have bought second homes, they still consider the Nebraska city their home.
The tour also included driving by Buffett's former elementary school. Many schools in the city have been renovated thanks to donations from the legendary investor, according to the report.
Clark summed up Buffett as one of the typical sons of the city of Omaha.
"Grow up, stay put, do good business, get rich and then keep it to yourself," Ermey said.
Image generated using artificial intelligence via Midjourney.
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