Warren Buffett’s big bash was noticeably quieter this year — but it should pick up in 2027, the unofficial tour guide for the event told Business Insider.
Tilman Versch has published numerous guides to Berkshire Hathaway’s annual shareholder meeting on his “Good Investing” website.
He showcased his knowledge and connections during my recent trip to Omaha, Buffett’s hometown. He invited me to two events he organized — a book signing and an informal chat with an author — as well as a fund manager’s networking dinner.
Versch anticipated a sharp drop in attendance this year. Clicks on his online guides, sales of shareholder passes on eBay, Airbnb, and hotel reservations, flight bookings, and event RSVPs all pointed to fewer visitors, he said.
He said the main reason was Buffett’s decision to sit in the audience instead of onstage this year, as he wished to keep the spotlight firmly on Greg Abel, who succeeded him as Berkshire’s CEO in January.
Versch described Buffett as a “content billionaire,” given the vast interest in him on YouTube and other social media, while the little-known Abel has only a few million views across platforms.
Despite Buffett taking a step back, the most popular flights to Omaha were still double or triple their usual price going into the meeting, and hotels were running anywhere from three to 11 times more expensive, Versch highlighted on his website. The upshot was that many fewer people could justify making the trip this year, he said.
Versch noted that many hotel rooms and vacation rentals on Booking.com and Airbnb, which had been fully booked weeks in advance for the meeting last year, remained vacant this time around.
Buffett’s absence also narrowed the meeting’s appeal, drawing a higher proportion of affluent financial professionals, Versch said. The result was that “on many flights, the first class and the premium class were booked, while cheaper economy class seats were still available,” he told Business Insider.
Versch said this year’s attendees were also “more American” than past iterations, as fewer international visitors made the trip. He suggested the Trump administration’s tighter immigration and border controls, proposed restrictions on ESTA visas, and the Iran war disrupting some flights may have contributed to that trend.
The drop in visitors might also reflect the pulling forward of demand in recent years, Versch said. Many fans of Buffett, now 95, and Charlie Munger, his business partner who died just shy of his 100th birthday in November 2023, scrambled to see them in person before it was too late.
Versch said his data pointed to declines across all visitor groups except Nebraskans, who “showed up in full force.” Revenues were likely up for Berkshire’s shopping events at the CHI Health Center and Nebraska Furniture Mart as a result, he said.
Looking ahead
Versch said he expects better attendance next year, after Abel made a “great debut” and two of his top lieutenants, Katie Farmer and Adam Johnson, “showcased the depth and strength of Team BRK.”
Berkshire fans saw that Abel can “deliver value — and that he is more fun than many expected, especially with Ajit [Jain, Berkshire’s vice chairman of insurance operations] on his side,” Versch said. “The biggest AGM unknown is now answered.”
Lower prices for hotels and Airbnbs after this year’s downturn, reduced political concerns after November’s midterm elections, and positive social-media buzz about the meeting reigniting FOMO could draw a larger crowd next year, Versch said.
One enduring factor, Versch said, is how special the Berkshire weekend remains.
“There is simply no other place on Earth that offers such a valuable series of events, such a fun culture, and such a group of committed investors,” he said.
