Buffett’s Berkshire turns $21bn profit - but Kraft Heinz numbers missing

Amazon stock climbs as Warren Buffett admits he was an

Warren Buffett: Apple earnings confirm why we invested $50 billion

Buffett also announced Berkshire Hathaway renewed its lease at the Omaha headquarters.

"We're hoping for a deal in the United Kingdom and/or in Europe, no matter how Brexit comes out", the billionaire told his annual shareholders' meeting.

The veteran USA investor said he would like to make more of a name for his firm, Berkshire Hathaway, in the United Kingdom and in Europe.

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Berkshire Hathaway, which manages assets equivalent to the size of the Swiss economy, revealed profits for the first quarter of $21.7bn (£16.4bn), up significantly from the $1bn loss reported a year ago.

Buffett has said that Berkshire has a succession plan in place for whenever it is needed.

Operating profit, which Buffett considers a better performance measure, rose 5 percent to $5.56 billion, or about $3,388 per Class A share, from $5.29 billion, or $3,215 per share, a year earlier.

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Buffett said then that he thought Amazon stock was likely too expensive for him to buy now at a value, but one of his investment managers at Berkshire decided differently this year.

Warren Buffet is 88 and won't be the CEO of Berkshire Hathaway (BRKB) forever.

The investment is another sign of the "changing of the guard" at Berkshire, which holds its annual shareholder meeting Saturday.

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Berkshire's Class A shares (BRK/A) closed Friday at $327,765.61, and its Class B (BRK/B) shares closed at $218.60.

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