STARBIZWEEK, Saturday 30 April 2016
8 infographic
Woodstock of capitalism Warren Buffett and Berkshire Hathaway Inc will this weekend welcome tens of thousands of people to Omaha for the company’s annual shareholder gathering, which Buffett calls “Woodstock for Capitalists.” It almost wasn’t to be. Prior to taking over Berkshire on May 10, 1965, Buffett had planned to sell back his shares in what was then a struggling textile company. But he got angry when the term sheet showed a price 12-1/2 cents a share less than he agreed to. He responded by buying all the shares he could, until he won control. Fifty-one years later, Berkshire is an energy, insurance, manufacturing, railroad, retailing and investment empire with close to 90 companies, well over US$100bil of common stock investments, and a market value around US$364bil.
FACTS ABOUT WARREN BUFFETT
Born: August 30, 1930 (But likes steak, hamburger, Cherry Coke and See’s Candies, and says he eats like a 6-year-old.) Education: University of Nebraska-Lincoln, Columbia Business School Net worth:
US$69.3 billion on April 27, 2016, ranking third worldwide.
Berkshire ownership stake:
18.8% as of March 2, 2016 Berkshire voting power: US$ 200,000
33% as of March 2, 2016 Annual salary at Berkshire:
US$100,000
BERKSHIRE INFORMATION
Famous Buffett quotation:
Net income:
US$24.08bil
150,000
up 21% from 2014
Revenue:
US$210.82bil
100,000
up 8% from 2014
50,000
Stock price:
US$2,950 ATTENDANCE AT BERKSHIRE ANNUAL MEETINGS 1965: 12 1979: about 24 1986: 1,000 1995: 4,100 1997: 7,700 2000: 13,000 2005: 21,000 2015: 40,000+ Employees at year end:
361,270 ©The Star graphics by Mohd Izudin Ismail
US$219,120
per Class A share as of April 29, 2016 0
SELECTED BUSINESSES OWNED: Benjamin Moore, Berkshire Hathaway Automotive, Berkshire Hathaway Energy, BNSF, Borsheim’s Fine Jewelry, Brooks, Business Wire, Clayton Homes, Duracell, Fruit of the Loom, Geico, General Re, IMC International Metalworking, International Dairy Queen, Lubrizol, Marmon, McLane, National Indemnity, Nebraska Furniture Mart, NetJets, Precision Castparts, See’s Candies
Major stock investments as of Dec. 31, 2015: Wells Fargo:
Coca-Cola
IBM:
American Express
US$27.2bil US$17.2bil US$11.2bil US$10.5bil
- Sept. 4, 1991 testimony before Congress about Salomon Inc, where Buffett became interim chairman to restore order after a Treasury auction bidding scandal. John Gutfreund, who had led Salomon, died in March. Family: Buffett married Astrid Menks on August 30, 2006, his 76th birthday. His first wife, Susan Buffett, died in 2004. Buffett has three children from his first marriage: Susan, Howard and Peter. Philanthropy: After Buffett dies, his Berkshire stock will go to philanthropies. In 2006, Buffett pledged 85% of his net worth to the Bill & Melinda Gates Foundation and four family charities. Home: Has lived in the same house since 1958. The 95-year-old, 10-room, five-bedroom, 2-1/2-bath home on 0.72 acres was assessed at
US$660,200 in 2016. (Source: Reuters, various reports)