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    The $348bn question for Warren Buffett’s successor

    SURPRISING PEOPLE at the age of 94 is no mean feat. Warren Buffett has retained that capacity. As Berkshire Hathaway’s annual shareholder meeting on May 3rd drew to a close, Mr Buffett announced that he would be stepping down as CEO of the sprawling conglomerate. The move will come at the end of the year, after six decades in charge. Mr Buffett had been preparing for his own departure. But he said he did not give most of Berkshire’s directors advance notice of his announcement. Nor did he tell Greg Abel, his presumptive successor. More

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    Warren Buffett’s $348bn question for his successor

    SURPRISING PEOPLE at the age of 94 is no mean feat. Warren Buffett has retained that capacity. As Berkshire Hathaway’s annual shareholder meeting on May 3rd drew to a close, Mr Buffett announced that he would be stepping down as CEO of the sprawling conglomerate. The move will come at the end of the year, after six decades in charge. Mr Buffett had been preparing for his own departure. But he said he did not give most of Berkshire’s directors advance notice of his announcement. Nor did he tell Greg Abel, his presumptive successor. More

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    End of an era: Warren Buffett will ask Berkshire board to replace him as CEO with Greg Abel

    An end of an era was announced in Omaha Saturday as Warren Buffett said he will soon ask the board of Berkshire Hathaway to have Greg Abel replace him as CEO at year end.
    While Buffett is 94 and Abel was designated as CEO successor in 2021, it nonetheless came as a surprise to the thousands of admiring shareholders gathered for this year’s annual meeting to once again hear the investing legend opine on the future of the company.

    “Tomorrow, we’re having a board meeting of Berkshire, and we have 11 directors. Two of the directors, who are my children, Howie and Susie, know of what I’m going to talk about there. The rest of them, this will come as news to, but I think the time has arrived where Greg should become the chief executive officer of the company at year end,” said Buffett, in the final few minutes of the meeting.
    In 1965, Buffett bought what was then a failing New England textile mill, and over six decades transformed the company into a one-of-a-kind conglomerate with businesses ranging from Geico insurance to BNSF Railway. Buffett is handing over his reins on a high note as Berkshire shares just reached a new peak, giving the conglomerate a market cap of nearly $1.2 trillion.The “Oracle of Omaha” said he will still “hang around” to help, but the final word on company operations and capital deployment would be with Abel, 62, currently the vice chairman of non-insurance operations for Berkshire.

    Warren Buffett and Greg Abel walkthrough the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025.
    David A. Grogen | CNBC

    “I could be helpful, I believe, in that in certain respects, if we ran into periods of great opportunity or anything,” he added.
    Buffett, who owns more than $160 billion in Berkshire as its largest shareholder, said he wouldn’t sell a single share of the stock after he transitions to this new phase.
    “I would add this, the decision to keep every share is an economic decision because I think the prospects of Berkshire will be better under Greg’s management than mine,” said Buffett, who used a cane to walk around the meeting, but answered questions for four hours with surprising energy and clarity for his age.

    Buffett sang Abel’s praises in front of some 40,000 shareholders Saturday, saying his more hands-on managerial style is working better for Berkshire’s 60-plus subsidiaries.
    “It’s working way better with Greg than with me because, you know, I didn’t want to work as hard as he works,” Buffett said. “I could get away with it because we’ve got a basically good business, very good business.”
    The Canadian executive, born in Edmonton, Alberta, has a 25-year tenure at Berkshire under his belt. Abel joined Berkshire in 2000 when the conglomerate bought MidAmerican Energy, where he eventually became the CEO in 2008. Prior to that, Abel worked at CalEnergy where he transformed the small geothermal firm into a diversified energy business.
    When it comes to capital allocation, Abel said he will inherit Buffett’s patient value investing style and he stands ready to deploy Berkshire’s monstrous $347 billion cash fortress whenever a good opportunity presents itself.
    “It’s really the investment philosophy and how Warren and the team have allocated capital for the past 60 years,” Abel said. “Really, it will not change. And it’s the approach we’ll take as we go forward.”

    Buffett’s new role?

    Buffett and Abel told CNBC’s Becky Quick after the shareholder meeting that the pair would discuss at the Sunday board meeting what Buffett’s role will be formally next year. Buffett is currently also chairman of the conglomerate.
    “I think they’ll be unanimously in favor of it,” Buffett said of the board’s pending CEO decision Sunday.

    Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025.

    So it’s not clear whether Abel will also assume the chairman role. Buffett told The Wall Street Journal earlier this year that his son Howie Buffett would become nonexecutive chairman after his death to preserve the company culture. It’s not clear whether this move will impact that decision.
    “It surprises me, but it impresses me,” said Ron Olson a Berkshire board director, after the shareholder meeting Saturday. “I am very anxious to see Warren become the Charlie Munger for Greg Abel.”
    After the announcement that apparently Abel didn’t even know was coming, the meeting ended with a standing ovation for Buffett.

    The crowd reacts during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025.

    — With reporting by Lisa Kailai Han and Fred Imbert More

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    Warren Buffett knocks tariffs and protectionism: ‘Trade should not be a weapon’

    OMAHA, Nebraska — Warren Buffett on Saturday criticized President Donald Trump’s hardline trade policy, without naming him directly, saying it’s a big mistake to slap punitive tariffs on the rest of the world.
    “Trade should not be a weapon,” Buffett said at Berkshire Hathaway’s shareholder meeting, an annual gathering in front of thousands in Omaha, Nebraska. “I do think that the more prosperous the rest of the world becomes, it won’t be at our expense, the more prosperous we’ll become, and the safer we’ll feel, and your children will feel someday.”

    Trade and tariffs “can be an act of war,” added the legendary investor. “And I think it’s led to bad things. Just the attitudes it’s brought out. In the United States, I mean, we should be looking to trade with the rest of the world and we should do what we do best and they should do what they do best.”
    Buffett’s comments, his most direct yet on tariffs, came after the White House’s rollout of the highest levies on imports in generations shocked the world last month, triggering extreme volatility on Wall Street. The president later went on to announce a sudden 90-day pause on much of the increase, except for China, as the White House sought to make deals with countries. The pause has stabilized the market somewhat.
    Still, Trump has slapped tariffs of 145% on imported Chinese goods this year, prompting China to impose retaliatory levies of 125%. China said last week it is evaluating the possibility of starting trade negotiations with the U.S.
    Buffett explained that protectionist policies could have negative consequences over the long term for the U.S., after it’s become the leading industrial nation in the world.
    “It’s a big mistake, in my view, when you have seven and a half billion people that don’t like you very well, and you got 300 million that are crowing in some way about how well they’ve done – I don’t think it’s right, and I don’t think it’s wise,” Buffett said. “The United States won. I mean, we have become an incredibly important country, starting from nothing 250 years ago. There’s not been anything like it.”

    Investors had been waiting to hear from the 94-year-old “Oracle of Omaha” for his guidance to navigate the uncertain macroenvironment as well as his assessment on the state of the economy. The trillion-dollar Berkshire’s vast array of insurance, transportation, energy, retail and other businesses, from Geico to Burlington Northern to Dairy Queen, leave Buffett uniquely qualified to comment on the current health of the American economy. The first-quarter GDP was just reported to have contracted for the first time since 2022.
    Berkshire said in its first-quarter earnings report that tariffs and other geopolitical events created “considerable uncertainty” for the conglomerate. The firm said it’s not able to predict any potential impact from tariffs at this time.
    Buffett has been in a defensive mode, selling stocks for 10 straight quarters. Berkshire dumped more than $134 billion worth of stock in 2024, mainly due to reductions in Berkshire’s two largest equity holdings — Apple and Bank of America. As a result of the selling spree, Berkshire’s enormous pile of cash grew to yet another record, at $347 billion at the end of March. More

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    Berkshire Hathaway operating earnings drop more than expected as Buffett warns of tariff uncertainty

    Operating earnings, which include the conglomerate’s fully owned insurance and railroad businesses, fell 14% to $9.64 billion during the first three months of the year.
    Much of that decline was driven by a 48.6% plunge in insurance-underwriting profit.
    Berkshire said President Donald Trump’s tariffs and other geopolitical risks created an uncertain environment for the conglomerate, owner of BNSF railway, Brooks Running and Geico insurance.

    (Follow along with our full coverage of Berkshire Hathaway’s annual meeting here. Warren Buffett begins talking at 9 a.m. ET.)
    Warren Buffett’s Berkshire Hathaway reported first-quarter results on Saturday that showed a steep drop in operating earnings from the year-earlier period. The conglomerate, which owns a vast array of insurance, transportation, energy, retail and other businesses also warned that tariffs may further hit profits.

    Operating earnings, which include the conglomerate’s fully owned insurance and railroad businesses, fell 14% to $9.64 billion during the first three months of the year. In the first quarter of 2024, they totaled $11.22 billion.
    On per share basis, operating earnings were $4.47 last quarter, down from $5.20 per class B share in the same period one year ago. That compares to an estimate of $4.89 per class B share from UBS and an overall consensus estimate from 4 analysts of $4.72 a share per FactSet.
    Much of that decline was driven by a 48.6% plunge in insurance-underwriting profit. That came in at $1.34 billion for the first quarter, down from $2.60 billion a year prior. Berkshire said the Southern California wildfires led to a $1.1 billion loss in Q1.
    Berkshire’s bottom line also took a hit from the dollar losing value in the first quarter. The company said it suffered an approximate $713 million loss related to foreign exchange. This time last year, it benefited from a $597 million forex gain.
    The dollar index fell nearly 4% in the first quarter. Against the Japanese yen, it lost 4.6%.

    Tariff uncertainty

    Berkshire said President Donald Trump’s tariffs and other geopolitical risks created an uncertain environment for the conglomerate, owner of BNSF railway, Brooks Running and Geico insurance. The firm said it’s not able to predict any potential impact from tariffs at this time.
    “Our periodic operating results may be affected in future periods by impacts of ongoing macroeconomic and geopolitical events, as well as changes in industry or company-specific factors or events,” Berkshire said in the earnings report. “The pace of changes in these events, including international trade policies and tariffs, has accelerated in 2025. Considerable uncertainty remains as to the ultimate outcome of these events.”
    “We are currently unable to reliably predict the potential impact on our businesses, whether through changes in product costs, supply chain costs and efficiency, and customer demand for our products and services,” it said.

    Stock chart icon

    BRK.A vs S&P 500 in 2025

    Berkshire’s cash hoard ballooned to a fresh record during the first quarter, climbing to more than $347 billion from around $334 billion at the end of 2024, showing that Buffett did not use the first-quarter drop in the stock market to deploy the money. In fact, Berkshire was a net seller of stocks for a 10th quarter in a row.
    The company’s overall earnings also plunged nearly 64% year over year, as Buffett’s portfolio of publicly traded names took a hit to start the year. That said, Berkshire always advises investors to look past these quarterly changes.
    “The amount of investment gains (losses) in any given quarter is usually meaningless and delivers figures for net earnings per share that can be extremely misleading to investors who have little or no knowledge of accounting rules,” Berkshire’s release said.
    The report comes as Berkshire enjoys a stellar year-to-date performance, while the broader market languishes. In 2025, Class A shares of Berkshire are up nearly 19%, while the S&P 500 is down 3.3% as uncertainty from tariffs pressures tech and other sectors.
    — CNBC’s Yun Li contributed reporting. More

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    Trump’s China tariffs are raising costs for wedding dresses and threatening the small shops that sell them

    Bridal boutiques and wedding dress designers are getting squeezed by steep tariffs on China, which is a major manufacturing hub for bridal and special occasion dresses and accessories.
    Some wedding dress brands, such as Mon Cheri and Justin Alexander, have added tariff surcharges, and others like David’s Bridal have rushed to move production out of China.
    The National Bridal Retailers Association, which represents thousands of boutiques across the country, started a letter-writing campaign to lawmakers to speak out against the tariff and ask for an exemption.

    Denise Buzy-Pucheu, founder and owner of The Persnickety Bride, said steep tariffs on imports from China are hurting U.S. businesses, including bridal shops and wedding dress designers. Some of the brands she carries have added a tariff surcharge.
    Courtesy of The Persnickety Bride; Photograph by Stella Blue Photography

    Days after President Donald Trump announced steep tariffs on imports from China, Denise Buzy-Pucheu sat on the couch in her bridal boutique and fired up the shop’s iPhone.
    In a video later posted on Instagram, the founder of The Persnickety Bride in Newtown, Conn. spoke directly to brides and prospective customers and outlined how the 145% tariff on Chinese imports would roil the bridal business, in particular.

    Almost all bridal gowns are made in China or other parts of Asia — and so are many of the fabrics, buttons, zippers and other materials they use. Skilled seamstresses are hard to find and often come from older generations in the U.S. And manufacturing in other countries, where labor generally costs less, has put the prices of high-quality bridal gowns within reach for many American families.
    “This type of work is not just not something you can pick up and bring to the United States,” she said in the video. “We just don’t have those technicians here to do that.”
    Tariffs on Chinese imports have hit a wide range of consumer goods, including T-shirts, patio furniture, baby strollers and toys. Yet the bridal gown and special occasion apparel business illustrates the damage duties can cause to small businesses ingrained in the global supply chain.
    Most of its sales come from independent shops across the country that carry bridal gowns, tuxedos, prom dresses and more. They cater to customers with firm deadlines, tight budgets and high expectations, often making custom orders placed weeks or months before an item is made or shipped.
    On top of those dynamics, the industry is particularly vulnerable to the tariffs. An estimated 90% of wedding dresses are made in China, according to the National Bridal Retailers Association — though a growing number of brands have moved manufacturing to other parts of Asia, such as Myanmar and Vietnam. The industry group represents approximately 6,000 wedding and special occasion shops across the U.S.

    David’s Bridal has sped up moving its production out of China because of tariffs. By July, it aims to produce all of its dresses in other countries, including Myanmar, Sri Lanka and Vietnam.
    David’s Bridal

    The particular pain the industry will feel has led it — like others highly exposed to tariffs — to push for carveouts from the duties. In the past two weeks, NBRA has launched a letter-writing campaign to U.S. senators and representatives to urge lawmakers and the White House to allow an exemption. The industry already pays a tariff that started during the first Trump administration, along with a separate duty.
    A White House spokesman did not immediately respond to a request for comment on whether Trump would consider an exemption.
    Some big names in bridal gowns started an online petition, including Stephen Lang, the founder and CEO of Trenton, N.J.-based brand Mon Cheri.
    Lang said he’s lost sleep over the tariffs. He worries they will put the 120-employee company he started in 1991 — and many of the shops that carry his dresses — out of business.
    Many of those stores were already struggling to cover expenses like rent and employee wages, he said. And the boutiques’ business models have felt squeezed as some customers use them as “try-on shops,” only to buy a similar, cheaper alternative online.
    If shops and dress brands close their doors for good, he said not just businesses — but also the ritual of finding garments for special occasions and family milestones — will be lost.
    “Our industry is going to get wiped out if it doesn’t change,” he said.
    If tariffs continue at the same level, mom-and-pop shops like those owned by Sandra Gonzalez will have to make tough choices. Gonzalez, the vice president of NBRA, said dresses she carries in her Sacramento, Calif. shop have cost her between 5% and 25% more because of tariffs.
    She’s held off on raising prices, but she said she’s not sure how much longer she can wait.
    “It’s on a week-by-week basis,” Gonzalez said.

    Sticker shock for brides

    For many brides, wedding dresses already cause sticker shock.
    A bride in the U.S. spent an average of $2,100 on a wedding dress, according to the 2025 Real Weddings Study by The Knot, a global company that sells wedding-related services and has a directory of wedding vendors.
    And that’s not the only expense on the list. Altogether, the average spending per wedding totaled $31,428, according to The Wedding Report, a market research company for the industry. Some estimates run even higher: The Knot puts the average cost at $33,000, while David’s Bridal estimates it is an average of $37,500.
    The financial crunch brides already face has made it more urgent for bridal shops and designers to find ways to manage higher costs from tariffs without losing their shoppers to cheap online alternatives.

    Shoppers exit from David’s Bridal Shop near Harrisburg. David’s Bridal LLC announced on Monday, April 17, 2023,.
    Paul Weaver | Lightrocket | Getty Images

    David’s Bridal, which has nearly 200 stores across the country, has sped up efforts to move all of its manufacturing out of China. The Pennsylvania-based wedding company, which has gone through bankruptcy twice and is in the middle of an effort to modernize its business, sells wedding dresses that range from $99 to approximately $6,000.
    As of the end of last year, about 48% of the company’s merchandise was made in China. By the end of this year, the company aims to have nearly all of its production out of China and in other countries, including Myanmar, Vietnam and Sri Lanka, CEO Kelly Cook said. Imports from those countries face a much lower tariff than China — at least for now — after Trump announced a 90-day pause on higher tariffs for some countries in early April.
    Cook said the company also worked to get 300,000 dresses to the U.S. before tariffs began and has looked for ways to cut costs across the business, such as using new artificial intelligence tools, so it does not need to raise prices.
    “Our last resort, absolutely last resort, is to pass an increase on to the customer due to a tariff,” she said.

    Surcharges and slowed production

    As they face the cost increases, major bridal brands have started to add tariff surcharges, a percentage-based added cost that’s typically shared by bridal boutiques and customers.
    Mon Cheri, for example, has tacked on a 39% tariff surcharge for shops. It’s also taken other steps to manage costs, including cutting its production roughly in half since tariffs started, Lang said. It is only shipping orders that it needs, such as custom dresses for specific wedding dates. 
    The company imports about 90% of all merchandise and about 80% of bridal items from China. It sells wedding dresses ranging from $500 to $20,000 that are carried by specialty shops across the country.
    For brides, the new surcharge for shops translates to a roughly 15% retail price increase, Lang said. For example, the average price for the company’s bridal dresses is $2,200, so it would add $300 to the price paid by a customer.
    Another New Jersey-based bridal brand, Justin Alexander, has also added tariff surcharges to its dresses, said Justin Warshaw, its creative director and CEO. For brides, he said, those surcharges have translated to an approximately 6% retail price increase. For example, he said, a $2,000 dress will now cost a customer $120 more.
    Yet he said the company decided to absorb the cost difference for dresses that brides ordered before the tariffs began, a decision that could wipe out its profits.
    “We understand a bride said yes to the dress at a price,” he said.
    About half of the company’s production is in China, followed by 45% in Vietnam and 5% in Myanmar, Warshaw said. Its dresses range in price from about $1,500 to $12,000.
    But some designers, wedding dress shops and companies said their plans may change if tariff levels drop. David’s Bridal, for example, said it may keep up to 25% of production in China if duties decrease. Some boutiques are telling brides or including in contracts that they will subtract the portion of tariff surcharges included in the price if policy changes and import costs decline, Gonzalez of NBRA said.

    Courtesy of Anne Barge

    Atlanta-based bridal dress brand Anne Barge is wrapping up its business in China and exiting the country altogether, the company’s CFO Steven Jacobs said.
    If the company had stayed in China with the higher tariff level, its retail prices would have shot up, he said. For instance, Anne Barge’s Norfolk dress – which currently costs $3,730– would have jumped nearly 65% to $6,150.
    Jacobs and his wife, creative director and CEO Shawne Jacobs, bought the higher-end bridal brand in 2014. Back then, all of the company’s dresses were made in China, which has long had the specialized workforce to produce wedding dresses.
    Yet the husband-and-wife team has seen firsthand the complexities – and cost challenges – of manufacturing in the U.S., one of the Trump administration’s stated goals of the tariffs.
    Motivated in part by Covid-related supply chain shocks, Shawne and Steven Jacobs opened a manufacturing facility for their luxury bridal line near the company’s Atlanta headquarters. The line of wedding dresses range between $4,000 and $14,000.
    “It worked because of our price points,” Shawne Jacobs said. “But we’re talking about luxury goods.”
    It has taken about two years to scale up to a 35-person facility and to recruit the pattern makers, seamstresses and other workers needed to make the detailed dresses, Shawne Jacobs said. Many of the company’s skilled sewers are immigrants, she said, a pool of talent now threatened by Trump’s stricter immigration policies.
    And she said Asia is still crucial for production: All of Anne Barge’s lower-priced bridal line, Blue Willow, is made in Vietnam. She said making those dresses and maintaining their under $3,000 price points in the U.S. wouldn’t be possible. More

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    United cuts Newark schedule after hundreds of flight disruptions, blaming FAA staffing, technology problems

    More than 1,000 Newark flights have been disrupted this week.
    United blamed FAA technology and staffing for many of the disruptions.
    The airline issued travel waivers for affected customers.

    United Airlines airplanes proceed to a runway at Newark Liberty International Airport in Newark, New Jersey, on Feb. 20, 2025.
    Gary Hershorn | Corbis News | Getty Images

    United Airlines will cancel 35 roundtrip flights a day from its schedule at Newark Liberty International Airport in New Jersey after thousands of passengers faced hourslong delays this week, CEO Scott Kirby said Friday, blaming the disruptions on air traffic controller staffing shortages and the Federal Aviation Administration’s technology problems.
    The flight cuts amount to about 10% of United’s daily schedule at its Newark hub.

    More than 300 flights in and out of Newark were delayed as of Friday afternoon, adding to more than 1,400 other delays and cancellations earlier this week, according to flight-tracking site FlightAware.
    “It’s disappointing to make further cuts to an already reduced schedule at Newark, but since there is no way to resolve the near-term structural FAA staffing issues, we feel like there is no other choice in order to protect our customers,” Kirby said in a note to customers on Friday.
    The schedule cuts will begin this weekend.
    Kirby said that 20% of air traffic controllers for Newark “walked off the job” in recent days after several technology failures.
    “Keep in mind, this particular air traffic control facility has been chronically understaffed for years and without these controllers, it’s now clear – and the FAA tells us – that Newark airport cannot handle the number of planes that are scheduled to operate there in the weeks and months ahead,” he said.

    The FAA said in an advisory that staffing issues were delaying operations at Newark on Friday.
    Kirby said the airline is now urging the agency to more tightly control capacity at the airport by establishing flight restrictions like those in place at other highly congested facilities like New York’s LaGuardia Airport and Ronald Reagan Washington National Airport.
    Last year, the FAA moved air traffic controllers responsible for airspace around Newark to Philadelphia instead of a facility in New York in an effort to help alleviate congestion.
    The FAA and the Transportation Department didn’t immediately respond to requests for comment on Kirby’s statement. But Transportation Secretary Sean Duffy wrote on X that he visited the Philadelphia facility that “to talk with our hard working air traffic controllers as we work to fix these equipment outages caused by outdated technology. It’s unacceptable.” He called for an “all-new air traffic control system.”
    The air traffic controllers’ union declined to comment.
    Kirby said he spoke with Secretary Duffy on Friday and praised the Trump administration for vowing to invest and fix aging air traffic control infrastructure in the U.S.

    United said Thursday that FAA technology outages, runway construction and high winds led to the disruptions, which forced it to divert at least 21 flights.
    Newark is one of the most congested airports in the country, and Kirby has repeatedly complained about shortfalls of air traffic controllers. United has also trimmed its Newark schedule in recent years because of excessive delays, blaming similar factors.
    The Transportation Department on Thursday offered a new slate of incentives to help alleviate staffing shortages of air traffic controllers, a problem that has persisted for years and worsened during training pauses amid the Covid-19 pandemic.
    United Airlines said it would waive change fees or fare differences for customers affected by the Newark disruptions.

    Read more CNBC airline news More

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    Berkshire meeting ‘bazaar’ features Buffett Squishmallows, 60th anniversary book and giant claw machine

    The welcome sign at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    David A. Grogen | CNBC

    OMAHA, Nebraska — Berkshire Hathaway shareholders are getting more bang for their buck at this year’s meeting with the annual shopping event more interactive than ever.
    The conglomerate’s yearly convention kicked off Friday with a shareholder-only shopping event, called the “Berkshire Bazaar of Bargains.” With over 20,000 square feet of showroom space at the CHI Health Center in downtown Omaha, the exhibit hall is offering goods from a myriad of the conglomerate’s holdings, including Warren Buffett-themed apparel from Brooks Sports and Berkshire chocolate coins from See’s Candies.

    Buffett will take the stage 9am ET Saturday to address the most pressing issues investors face, including tariffs, the market volatility as well as the state of the economy. The 94-year-old investment legend will answer shareholder questions along with his designated successor, Greg Abel, and Berkshire’s insurance chief, Ajit Jain. The Q&A session will be broadcast exclusively on CNBC.
    Plush Warren, Charlie and Omaha

    Squishmallows in the images of Warren Buffett, Charlie Munger and Omaha at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Alex Harring | CNBC

    The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Yun Li | CNBC

    The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Yun Li | CNBC

    Plush toy phenomenon Squishmallows once again stole the show. The ones modeled after the “Oracle of Omaha” and the late Charlie Munger became the biggest hits at the shopping event, as shareholders snapped up over 1,000 snuggly dolls per hour.
    This year, Squishmallows also introduced a new limited-edition dog character called “Omaha.”

    Squishmallow, Omaha, at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Alex Harring | CNBC

    The Squishmallow shopping display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Yun Li | CNBC

    Berkshire inherited Squishmallows parent Jazwares through its acquisition of Alleghany in the fourth quarter of 2022. These squishy toys became an instant sensation during the pandemic partly thanks to celebrity endorsements. In 2022 alone, the firm sold a whopping 100 million Squishmallow units — with prices ranging from $5 to $30.
    At the shopping event, the company put on display its newest product — pillows for both kids and adults —slated to launch this summer. Berkshire shareholders get to buy special edition pillow cases featuring Buffett and Munger’s cartoon figures.

    One very special book

    The Berkshire Hathaway 60th Anniversary book seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Yun Li | CNBC

    The Berkshire Hathaway 60th Anniversary book seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Alex Harring | CNBC

    Only one book is for sale at Berkshire’s book store Bookworm this year, 60 Years of Berkshire Hathaway, to commemorate the decades since Buffett took over what was then a failing Massachusetts textile company
    Berkshire is selling 5,000 volumes of the limited edition book. Proceeds from an auction of copies signed by Buffett and author Carrie Sova will benefit the Stephen Center, a charity for homeless youth and adults in South Omaha.
    Satisfying the sweet tooth

    See’s Candies display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    David A. Grogen | CNBC

    See’s Candies, one of Berkshire’s most-iconic brands, had shelves of themed chocolate concoctions available for purchase.
    Tied to the camping theme for this year’s meeting, See’s sold a box of toasted marshmallow-flavored chocolates. The box was adorned with an illustration of Buffett next to a campfire. Other items for sale included chocolate coins with wrappers embossed with Buffett’s face, as well as the company’s famous peanut brittle.
    Room for dessert?

    The Dairy Queen display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    David A. Grogen | CNBC

    Dairy Queen, which Berkshire Hathaway acquired in 1998, provided a sweet treat for attendees while they racked up steps at the bazaar. The ice cream chain’s Dilly Bars were sold for $1, while the Buster Bar went for $2.
    Running shoes

    The Brooks Running display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    David A. Grogen | CNBC

    Brooks Running shoes on display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Alex Harring | CNBC

    Brooks Running hats on display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Alex Harring | CNBC

    Long lines formed at Brooks Running as shareholders gravitated towards the 2025 special edition of its running shoes with special “Berkshire Hathaway” branding on the side and the insoles. Many shareholders are also set to participate in the Brooks “Invest in Yourself” 5K fun run and walk on Sunday, the morning following the annual meeting.
    Live from Omaha

    Signage at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Alex Harring | CNBC

    Attendees waited in line to take photos in front of CNBC’s stage, where reporters like Mike Santoli and Becky Quick have been reporting. CNBC is the exclusive broadcaster for the meeting and has a livestream available online in English and Mandarin.
    Claw Crane

    The Pilot truck simulator seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Alex Harring | CNBC

    Feeling lucky? New to the bonanza floor this year was a gigantic claw machine.
    For $10, attendees could try their luck at scooping up prizes tied to several of Berkshire’s holding companies. Proceeds go to the Hope Center for Kids, an Omaha-based organization providing after-school and summer care for children.
    Living the lavish life

    The NetJets display at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    David A. Grogen | CNBC

    NetJets, which Berkshire bought in 1998, took shareholders inside a private plane. The private jet operator also sold company-branded gear.
    Getting it all home

    Crowds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Alex Harring | CNBC

    Not enough space for plush toys, jewelry, running shoes and books in your carryon? AIT Worldwide Logistics has you covered. The shipper offered shoppers the service of having their purchases packed and sent home. It should be a popular service, with attendees seen lugging around Squishmallow bags that were equivalent in size to a child.

    Bling-bling

    A jewelry display from Borsheims is seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Yun Li | CNBC

    A jewelry display from Borsheims is seen at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 2, 2025.
    Yun Li | CNBC

    About 14 miles away from the main convention center, there’s a separate shareholder-only shopping event at jewelry story Borsheims. Berkshire shareholders browsed through one-of-a-kind jewelry, engagement rings and watches available for purchase at a discount. This 24-carat black diamond necklace from Ruchi New York is selling for about $25,000. More