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Here's why Warren Buffett is a rock star in China

Yahoo Finance
Yahoo Finance

Warren Buffett is widely regarded as one of the most successful investors ever, and his popularity extends far beyond U.S. borders. Berkshire Hathaway’s annual shareholder meeting attracts visitors from around the world, with a notable rise of attendees coming from China.

It's likely no surprise to many that the billionaire investor’s fan base is growing in Asia. Long-time friend of Warren Buffett and retired Fortune senior editor-at-large Carol Loomis shared with Yahoo Finance editor-in-chief Andy Serwer why she thinks Buffett's so big in China.

“I think the Chinese recognize an exceptional person. They are financially very acquisitive,” said Loomis. “[Buffett] is somebody who's got it figured out. He doesn't seem to have anti-Chinese feelings. He fits their model of somebody who has succeeded, and they like him.”

Interest in Berkshire Hathaway’s annual shareholder meeting among Chinese investors has prompted Berkshire Hathaway to take steps to be more accommodating. This year’s 6-hour Q&A session with Buffett and his business partner Charlie Munger was translated into Mandarin.

Buffett’s rock-star status in China extends far beyond Berkshire’s big weekend in Omaha. For example, the chairman of Beijing-based Dalian Zeus Entertainment Co., which develops online games, agreed to pay $2.35 million in a charity auction for the opportunity to have a private lunch with Buffett last year.

Click here to view a full replay of the 2016 Berkshire Hathaway annual shareholder meeting, which Yahoo Finance live-streamed exclusively. At this page you can also find our extensive coverage of the event.