Berkshire Hathaway holds its annual shareholder meeting in Omaha, Nebraska.
The gathering is widely known as the “Woodstock for Capitalists” because thousands of shareholders travel to Omaha to hear Warren Buffett and other Berkshire executives discuss investing, business management, and the company's operations. Berkshire's headquarters are also located in Omaha.
Berkshire Hathaway began as a textile manufacturing company, but Buffett and his investment partners transformed it into a diversified holding company. Its businesses and investments have included insurance, railroads, utilities, energy, manufacturing, retail, and large stakes in public companies. Insurance remains central because premiums provide investment capital known as “float.”
The meeting is sometimes mistaken for a New York or Wall Street event because Berkshire is a major public company and its shares trade on the New York Stock Exchange. The annual meeting, however, is associated with Omaha, where Berkshire's corporate headquarters and long-running shareholder tradition are based.