Attendees arrived at the Chi Health Center auditorium during Berkshire Hathaway's annual meeting in Omaha, Nebraska, USA on Saturday, May 6, 2023.
David Williams | Bloomberg | Getty Images
For decades, Berkshire HathawayWarren Buffett's annual conference of "Woodstock Capitalist" attracted foreign investors, sometimes thousands of miles away, to Omaha, Nebraska. This year, their international travel has new wrinkles.
Xin Jin, a Chinese investor in Guangzhou, wants to make his second visit to Omaha in May this year, but international travel is worried about him in the current political atmosphere. In 2012, he poured half of his assets into Berkshire's stock, becoming one of the most profitable names in his portfolio.
"I really want to go to Omaha this year," King said. "I admire Buffett very much and I'm very moved by him."
Consumer-centric Chinese investors don’t want to be named, but he attended the annual meeting three times, adding that a hostile political environment prevented him from traveling this year. Another Chinese shareholder pointed out that there are fewer third-party organizations going to Omaha this time. A shareholder in Jakarta, Indonesia, who attended last year, decided to stay home and said he was worried about "necessary and unfounded issues of customs".
This year's meeting comes after Donald Trump launched a global trade war early in his second term, which has exacerbated political tensions between the United States and other countries. China, in particular, issued a risk alert for Chinese tourists traveling to the United States, citing “deterioration of China-US economic and trade relations and the domestic security situation in the United States”
"I've noticed that the past few years, shareholders' demographics have tended to be international inclined - shareholders are there for the first time, mostly international and very young," said David Kass, a finance professor at the University of Maryland.
Berkshire's annual gathering can draw up to 40,000 people into Cornhusker State for unique opportunities, and his designated successor Greg Abel and Berkshire's insurance director Ajit Jain heard Buffett listen. The Q&A session will be played on CNBC and Webcast in English and Mandarin.
Buffett, 94, has long acknowledged the growing international representation at his annual gathering. In fact, he and his late partner, Charlie Munger, once held a special reception for people from outside North America. He finally ended the event as foreign attendees increased.
"Our number increased to about 800 last year, and I just signed one for about 2 1⁄2 hours per person.
- Other reports from Evelyn Cheng of CNBC.