May 1 Billionaire investor Warren
Buffett, whose Berkshire Hathaway Inc (BRKa.N) (BRKb.N) will
hold its annual shareholder meeting in Omaha,
Nebraska, on Saturday, is the world's second-richest person,
and perhaps America's most-revered capitalist.
For a preview of the annual meeting, please click
* Buffett, 78, bought Berkshire, a struggling textile mill,
in 1965. Berkshire's market value is now roughly $145 billion.
Berkshire owns close to 80 companies, including auto insurer
Geico, reinsurer General Re, ice cream maker Dairy Queen and
utility MidAmerican Energy. It ended last year with $49.1
billion of stock investments -- down from $75 billion a year
earlier -- in companies such as American Express Co (AXP.N),
Coca-Cola Co (KO.N), Procter & Gamble Co (PG.N) and Wells Fargo
& Co (WFC.N).
* According to Berkshire's latest proxy filing, as of Feb.
28, Buffett owned 350,000 Class A shares of Berkshire,
equal to 33.1 percent of shares outstanding, and 2,018,105
Class B shares, equal to 13.7 percent. He owned 26.9 percent of
Berkshire in aggregate and controlled 31.8 percent of the
company's voting power.
* Berkshire's stock price is high, trading in the last year
for high five-figure and low six-figure amounts for a Class "A"
share, because there are few shares outstanding. Buffett does
not believe in stock splits and encourages long-term investing.
Berkshire in 1996 introduced Class "B" shares valued at 1/30th
of Class "A" shares. It has not declared a cash dividend since
* Buffett has nearly all his net worth, estimated in March
at $40 billion by Forbes magazine, invested in Berkshire. He
has said every Berkshire share he has will go to philanthropies
after his death. In June 2006, he pledged 85 percent of his net
worth to the Bill & Melinda Gates Foundation and four family
charities. He supports several charities, including Girls Inc,
a social service agency, and the Glide Foundation, a San
Francisco nonprofit offering programs for the poor, hungry and
* Buffett was the subject of a best-selling biography last
year, "The Snowball: Warren Buffett and the Business of Life,"
by former insurance analyst Alice Schroeder. The title comes
from a metaphor Buffett uses to describe the accumulation in
life of knowledge and understanding. Schroeder spent hundreds
of hours with her subject and got access to his files, and
Buffett even told her to "use the less flattering version" when
his recollections differed from others. But the relationship
has since grown more distant, and Schroeder has said she is not
appearing at the traditional Friday night signing of
Buffett-themed books at a Dairy Queen in Omaha.
* Buffett tells his shareholders that he thinks of them as
"owner-partners" who will retain their part-ownership in
Berkshire indefinitely. He regularly speaks to students about
his ideas about investing and life.
* Buffett draws a $100,000 annual salary to run Berkshire.
* Buffett drinks five cans of Cherry Coke a day.
* Buffett has lived in the same house for a half-century, a
10-room, five-bedroom home on less than three-quarters of an
acre in Omaha, near his office. The home was assessed at
$727,600 last year.
* Buffett plays ukulele and is a bridge partner of Bill
Gates, the Microsoft Corp (MSFT.O) chairman and Berkshire
(Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by
Lisa Von Ahn)