Today marks the beginning of the yearly invasion of Berkshire Hathaway shareholders, with the shareholder shopping day taking over the CHI Health Center, starting at noon. The airline industry's demand for capital ever since that first flight has been insatiable.
Stock prices often move higher or lower when Berkshire discloses new stakes, or sheds old ones. The most obvious successors are Ajit Jain, head of Berkshire's insurance operations, and Greg Abel, who heads its energy arm.
He holds a stake in Apple and had a sizeable investment in IBM at one point, but has generally refrained from investing in numerous biggest technology companies that have become powerhouses in the 21st Century, including Google, Facebook and - until now - Amazon.
Buffett, who is worth nearly $90 billion, still lives in a relatively modest house about 10 minutes outside downtown Omaha that he bought in 1958.
The event, second of its kind following its inauguration a year ago, came as US multinational conglomerate Berkshire Hathaway will be holding its annual shareholders' meeting Saturday. Buffet has hinted that there may be a time when Berkshire buys back as much as $100B of its shares.
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Before then, the company's stock bets were dominated by banks and other financial services and consumer goods groups such as Coca-Cola. While he most often steers clear of the latest hot technology, he has since 2016 been investing heavily in iPhone maker Apple, and is now the second-largest shareholder. A year ago he dumped the last of his stake in IBM, blaming some of the troubles at the company on Amazon.
Buffett has long said Berkshire's operating earnings offer a better view of quarterly performance because they exclude investments and derivatives, which can vary widely.
Legendary investor Warren Buffett who once famously said, "I always knew I was going to be rich".
For almost 30 years from 1979 Berkshire outperformed the USA market by more than 12 per cent on average per year, but since October 2008 its performance has lagged behind the wider market.