May 2025 annual shareholder meeting that surprised even his chosen successor, Warren Buffett made it official: He's passing the torch for the $1.2 trillion empire he built at year's end. While Greg Abel was designated his successor in 2021,

The busiest time of year for Gorat’s Steak House in Omaha, Neb. isn’t Mother’s Day, Father’s Day or the holiday season. It’s every first weekend of May, when tens of thousands of Berkshire Hathaway shareholders descend upon the city to attend the conglomerate’s annual shareholder meeting, often dubbed the “Woodstock of Capitalism.”

Mr. Buffett, 94, was crowned the “Oracle of Omaha” because of smart investments he made as the chief executive of Berkshire Hathaway. He also made some mistakes.