Money and Finance
- Links
Buffett admits Tesco investment ‘a huge mistake’ (LINK) Billionaire investor Warren Buffett has admitted that his seven-year bet on Tesco was a “huge mistake” in a frank mea culpa by the so-called Sage of Omaha. The chairman of Berkshire...
- Buffett Deputies Join Heinz Board As Lynnn Swann Departs
Thanks to Will for passing this along. Gregory Abel and Tracy Britt, two of Warren Buffett’s deputies who have been adding responsibilities at Berkshire Hathaway Inc. (BRK/A), were selected by the billionaire to join him as directors of HJ Heinz Co....
- David Winters: Annual Letter To Investors
Found via GuruFocus. I am a success today because I had a friend who believed in me and I didn’t have the heart to let him down. -Abraham Lincoln Perhaps no company is more closely associated with its CEO than Berkshire Hathaway. When people think of...
- Buffett Reveals Warts As He Prepares Annual Letter
Warren Buffett bought oil stocks near the peak of an energy boom, declined to spend $35 million on a growing television station and swapped a Berkshire Hathaway Inc. (BRK/A) stake for a shoe company he later said was worthless. In each case, shareholders...
- Gates Makes Lifetime Pledge To Buffett’s Berkshire
April 28 (Bloomberg) -- Microsoft Corp. co-founder Bill Gates, recruited by his friend Warren Buffett to join the board at Berkshire Hathaway Inc., said he’s committed to the firm for the rest of his life. Gates and fellow Berkshire board member Don...
Money and Finance
Berkshire Billionaire Found With More Shares Than Gates
Thanks to Matt for passing this along.
Stewart Horejsi’s business was in a funk. It was 1980, and Brown Welding Supply LLC, his family’s third-generation distributor of hydrogen and oxygen tanks, was battling competitors that were intent on expanding into the corner of Kansas he controlled.
“It was a profitable business, but companies took their money and bought more trucks,” Horejsi, 75, said in a telephone interview from his home in Paradise Valley, Arizona. “The competition just grew.”
Frustrated, Horejsi bought 40 shares of Berkshire Hathaway Inc. (BRK/A) for $265 each with the company’s cash after friends told him about Warren Buffett, the company’s then-little known chairman. He bought another 60 shares two weeks later at $295 and 200 more at $330 a month after that.
Today, he’s a billionaire. The 4,300 Class A shares of the Omaha, Nebraska-based conglomerate Horejsi says he holds is bigger than the stake controlled by Bill Gates, 57, the world’s richest person and Buffett’s bridge partner. He has a net worth of at least $1.1 billion, according to the Bloomberg Billionaires Index, and has never appeared on an international wealth ranking.
Horejsi joins a squad of billionaires minted by Berkshire. In addition to Buffett, the world’s fourth-richest person, at least six current or former billionaires derive their fortunes from Berkshire. They include Charles Munger, 89, the company’s vice chairman and David Gottesman, 86, a Berkshire board member and founder of asset management firm First Manhattan Co.
- Links
Buffett admits Tesco investment ‘a huge mistake’ (LINK) Billionaire investor Warren Buffett has admitted that his seven-year bet on Tesco was a “huge mistake” in a frank mea culpa by the so-called Sage of Omaha. The chairman of Berkshire...
- Buffett Deputies Join Heinz Board As Lynnn Swann Departs
Thanks to Will for passing this along. Gregory Abel and Tracy Britt, two of Warren Buffett’s deputies who have been adding responsibilities at Berkshire Hathaway Inc. (BRK/A), were selected by the billionaire to join him as directors of HJ Heinz Co....
- David Winters: Annual Letter To Investors
Found via GuruFocus. I am a success today because I had a friend who believed in me and I didn’t have the heart to let him down. -Abraham Lincoln Perhaps no company is more closely associated with its CEO than Berkshire Hathaway. When people think of...
- Buffett Reveals Warts As He Prepares Annual Letter
Warren Buffett bought oil stocks near the peak of an energy boom, declined to spend $35 million on a growing television station and swapped a Berkshire Hathaway Inc. (BRK/A) stake for a shoe company he later said was worthless. In each case, shareholders...
- Gates Makes Lifetime Pledge To Buffett’s Berkshire
April 28 (Bloomberg) -- Microsoft Corp. co-founder Bill Gates, recruited by his friend Warren Buffett to join the board at Berkshire Hathaway Inc., said he’s committed to the firm for the rest of his life. Gates and fellow Berkshire board member Don...