Warren Buffett is a media master, and Berkshire Hathaway’s shareholder weekend is one of a kind, says influencer and investor Sahil Bloom.
The author of “The 5 Types of Wealth” and writer of “The Curiosity Chronicle” newsletter spoke to Business Insider’s Theron Mohamed in Buffett’s hometown of Omaha on Friday, ahead of Berkshire’s annual meeting.
Berkshire is “in many ways a media company,” the wealth guru said, pointing to Berkshire’s yearly gathering and Buffett’s famous shareholder letters as an “incredible example of building a brand around media.”
Buffett built his brand in part by breaking down complex financial subjects, making them accessible to everyone, Bloom said. The investor has an “insane capacity to aggregate data and information and spit a very clear story out on the other side,” he added.
The perception of Buffett as someone “you could have a drink with or have a steak with definitely is part of the deal” too, he said.
Bloom, who has 1.1 million X followers, recalled meeting Buffett for the first time in 2019 and being so starstruck that he couldn’t speak. But the Berkshire chairman was “so disarming in his demeanor,” asking Bloom questions such as where he had dinner the previous night, that he quickly put Bloom at ease.
The billionaire was “so kind and open and generous with his time,” Bloom said.
He shared two key lessons he’s taken from studying Buffett: the value of constant learning, and the importance of saying “no” to things outside one’s circle of competence.
Bloom said he’s intrigued to see how Greg Abel, who succeeded Buffett as Berkshire’s CEO at the start of this year, stewards the media side of the company.
He noted that Abel and Berkshire’s insurance chief, Ajit Jain, lack the “theatrical flavor” and witty camaraderie that Buffett had with his late business partner, Charlie Munger.
However, Bloom noted that he’s spent some time with Abel and found him to be “extremely kind and very present” during conversations, and said he has a “lot of confidence” in his leadership.
Bloom also reflected on the unique appeal of the Berkshire meeting and whether it will continue in the post-Buffett era.
“It’s a high density of really smart people that come here for this very short window of time, and you’re in a place where there’s not a whole lot else to do other than meet people,” he said.
Looking around the lobby of the Hilton Omaha, he said there were likely people managing tens, if not hundreds, of billions of dollars under one roof.
“That’s hard to replace,” he said. “I hope it continues for that reason.”
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