[77] In June 2012, Berkshire purchased 63 newspapers from Media General, including the Richmond Times-Dispatch and Winston-Salem Journal, for $142 million in cash. Berkshire made its first investment in Tesco in 2006 and in 2012 raised this stake to over 5% of the company[131] with a cost for the investment of $2.3 billion. Mr. Smith also served on the Board of Directors and as audit committee chair for Oilstone Energy Services, Inc., a position he held from October 2014 to June 2016. VIDEO 00:00. The company has been overseen since 1965 by its chairman and CEO Warren Buffett and (since 1978) vice chairman Charlie Munger, who are known for their advocacy of value investing principles. This is obviously true for Berkshire Hathaway. [90] In September 2020, BNSF Railway, among Berkshire Hathaway's largest entities, hired its first female CEO, Kathryn Farmer. Meanwhile, the Biden administration is expected to announce an executive order directing several federal agencies to respond to climate risks. There are currently 12 people on the board of directors of Berkshire Hathaway. -, Berkshire Hathaway's Ajit Jain sells $2 mln of company shares -filing, Berkshire hathaway vice chairman ajit jain sells 6,595 berkshire, Berkshire Hathaway : Omaha, NE (BRK.A; BRK.B) - Form 8-K. WESTERN ASSET INVESTMENT GRADE INCOME FUND INC. WESTERN ASSET INFLATION-LINKED OPPORTUNITIES & INCOME FUND, WESTERN ASSET INFLATION-LINKED INCOME FUND, Chief Financial Officer, Secretary & Senior VP, Director & Vice Chairman-Non Insurance Operations, Director & Vice Chairman-Insurance Operations, Psd-Berkshire Hathaway HomeServices-Blake Realtors, Principal Accounting Officer & Vice President, Bill & Melinda Gates Foundation Trust (Investment Management), Northern Trust Investments, Inc.(Investment Management), Morgan Stanley Smith Barney LLC (Investment Management). To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Most recently, Berkshire Hathaway Energys subsidiary in Wyoming, Rocky Mountain Power, supported a bill in that state that would have ended net metering, and could have killed the states solar industry, according to the Wyoming Outdoor Council. Aggressive stock purchases continued and by March 31, 2017, Berkshire had amassed a stake of 129 million shares (2.5% of Apple). While the intent of this message was to bolster confidence in the leadership of a "Buffett-less Berkshire", critics have noted that this strategy of choosing a successor without a concrete exit strategy for the sitting CEO often leaves an organization with fewer long term options, while doing little to calm shareholder fear. These stakes were worth a total of over $6 billion as of August 2020. Helzberg is a chain of jewelry stores based in Kansas City that began in 1915 and became part of Berkshire in 1995.[71]. Flying Cross manufacturers public safety uniforms and Vertx is a civilian tactical clothing company. Former banking executive specialised in market intelligence, loan portfolio, and non-performing loans.Skilled in data analytics, market intelligence, budgeting, forecasting, monitoring, cost containment, and . Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Buffett later admitted that this lower, undercutting offer made him angry. (Note: The two shareholder proposals relating to (1) climate change, and (2) diversity, equity, and inclusion, were each voted against by a 75% to 25% margin as recommended by Berkshire's board of directors. The combined company was known as Berkshire Fine Spinning Associates.[10]. [27] The 2006 movie depicted actresses Jamie Lee Curtis and Nicollette Sheridan lusting after Munger. 7. [40], For the fiscal year 2019, Berkshire Hathaway reported earnings of US$81.4 billion, with an annual revenue of US$254.6 billion, an increase of 2.7% over the previous fiscal cycle. Why Berkshire Hathaway Is a Retiree's Dream Stock By Selena Maranjian - Mar 17, 2021 at 9:05PM You're reading a free article with opinions that may differ from The Motley Fool's Premium. Updated February 25, 2023. Oracle. Michael Dinkins. Berkshire acquired Russell Corporation on August 2, 2006, for $600million. 17-min read Warren Buffett addressed investors around the world on Saturday at. Buffett was reluctant to create the class B shares but did so to thwart the creation of unit trusts that would have marketed themselves as Berkshire look-alikes. Berkshire Hathaway shareholders will consider the climate risk proposal, which is supported by California Public Employees Retirement System, Federated Hermes and Caisse Et Placement Du Quebec, at the companys annual meeting on May 1. The Board is charged with the overall conduct of the Company, the management, direction and performance of the Company and its business. [120], In the second quarter of 2020, Berkshire added a position of more than 20 million shares in mining company Barrick Gold,[121] and in the third quarter the company agreed to buy Dominion Energy's natural gas transmission and storage operations. Berkshire Hathaway's board of directors is opposing a proposal from major shareholder groups that the company publish an annual report disclosing the climate risks it faces, even as the company's energy subsidiaries remain heavily invested in fossil fuels and have been impacted by extreme weather events. Gerard Miller | CNBC The question of who would take over after Buffett has been a source of speculation for over 15 years. This statement is furnished in connection with the solicitation by the Board of Directors ("Board") of Berkshire Hathaway Inc. All companies should recognize and appraise physical and transitional climate risks. Berkshire's 2002 quarterly reports are scheduled to be posted on the Internet on May 11, August 10 and November 9. Berkshire then restarted buying Apple stock again between September to December. MALCOLM G. CHACE, Chairman of the Board of Directors of BankRI, Chace founded his first textile mill in 1806. Updated October 20, 2022. March 15, 2021 2:51 pm ET Order Reprints Print Article Berkshire Hathaway proxy report shows that the company under Warren Buffett's longtime leadership remains old school in the way it. NV Energy, Berkshire Hathaway Energys subsidiary in Nevada, pushed that states Public Utilities Commission to end net metering in 2015, but strong public opposition against the decision ultimately resulted in bipartisan legislation and a decision by new PUC commissioners that restored net metering in Nevada. Heinz Company", "Many 2013 Portfolio Changes For Berkshire and Buffett", "Barrick Gold's stock soars after Buffett's Berkshire reveals stake", "Berkshire Hathaway Adds to Energy Assets", "Warren Buffett takes 5% stake in 5 Japanese trading companies", "HP Soars to Record High After Buffett's Berkshire Buys a Stake", "Warren Buffett's Berkshire Hathaway Acquires $2.6B Stake in Paramount Global", "Warren Buffett's Berkshire Hathaway buys $4bn stake in chipmaker TSMC", "Berkshire dumps shares in TSMC, banks; increases Apple stake", "Berkshire Hathaway has been buying shares of Amazon: Warren Buffett", "Buffett owns 5 percent of Apple. [58][59], Berkshire currently holds 92% of Berkshire Hathaway Energy. In the 2017 annual report, Berkshire Hathaway disclosed its total position by December 31, 2017, to be 166 million shares (3.3% of Apple). [82], Berkshire Hathaway Energy's HomeServices of America (see complete list of companies) is a residential real estate brokerage firm based in Minneapolis, Minnesota, and founded in 1998. . Notes: One of Buffett's childhood friends, Scott partnered with him to buy MidAmerican Energy in 2000, which became Berkshire Hathaway Energy in 2014. Notable past and present roles: Berkshire director (2013 - present); Eagle Capital Partners general partner (2001 - present); Emerald Partners cofounder and manager (1989 - 2000), Notes: Witmer recently bought more than $2.2 million worth of Berkshire stock, Visit Business Insider's homepage for more stories, Famed economist David Rosenberg says investors are falling into a classic market trap that's historically preceded a further meltdown and warns 'there's not going to be much of a recovery', MORGAN STANLEY: Buy these 23 high-growth stocks that look poised to deliver market-beating returns over the long term, An elite 'ultragrowth' investor explains how he's beating the market in 2020 and analyzes 4 stocks he thinks will help him stay on top for the next 5 years. The company began its BH Media Group subsidiary with a purchase of the Omaha World-Herald in December 2011,[76] which included six other daily newspapers and several weeklies across Nebraska and southwest Iowa. [111], On March 14, 2011, Berkshire Hathaway announced that it would acquire the Lubrizol Corporation for $9billion in cash, a deal that was described as one of the largest deals ever for Berkshire Hathaway. In February, it purchased Johns Manville which was established in 1858 and manufactures fiberglass wool insulation products for homes and commercial buildings, as well as pipe, duct, and equipment insulation products. [37][38] While Buffett has not further elaborated on his succession plans, he praised his two top executives in an annual shareholder letter, fuelling speculation that Jain and Abel are the logical successors. Name Present Principal Occupation or Employment and Business Address Delayed Nyse The efforts by financial regulators to better understand and respond to climate risks reflect both the Biden administrations climate agenda and growing concerns from institutional investors about how the companies they own are responding to the climate challenge. However, Berkshire Hathaway 's (NYSE: BRK.A . Sign In. Fechheimer Brothers is made up of two brands, Flying Cross and Vertx. On August 26, 2011, Berkshire Hathaway purchased $5 billion of preferred shares in Bank of America. Berkshire Hathaway Energy Investor Presentations. [135] In April 2020 Berkshire sold all shares in US Airlines in response to the COVID-19 pandemic. Mr. Katz served as an observer to our Board from September 2013 to February 2019. Previously it was a privately held conglomerate owned by the Pritzker family for over fifty years, which owned and operated an assortment of manufacturing companies that produce railroad tank cars, shopping carts, plumbing pipes, metal fasteners, wiring and water treatment products used in residential construction. Buffett had made an investment in US Airways in 1989 which, although he sold for a profit, almost lost Berkshire a substantial sum of money. The stores offer various dairy desserts, beverages, prepared foods, blended fruit drinks, popcorn, and other snack foods. FOR A FREE CAR INSURANCE RATE QUOTE THAT Its main business and source of capital is insurance, from which it invests the float (the retained premiums) in a broad portfolio of subsidiaries, equity positions and other securities. NLPC seeks to kick Tim Cook, Al Gore from Apple board of directors | AppleInsider . Warren Buffett's company is having a good run among a volatile stock market, turn away from many . He is considered one of the most successful investors in the world and has a net worth of over $100.6 billion as of April 2021, making him the world's seventh-wealthiest person. Served on the Board of Directors for local non-profit organization with a focus on labor-saving innovations for . [42] As of 2018[update], Berkshire Hathaway is ranked third on the Fortune 500 rankings of the largest United States corporations by total revenue.[43]. Policy Name: Corporate Governance Policies of the Board of Direc tors Policy Owner: NVIDIA Board of Directors Effective: March 2, 2021 Page 1 of 5 . Clayton's homes are marketed in 48 states through a network of 1,540 retailers, 391 of which are company-owned sales centers. [136], In 2022, Berkshire Hathaway disclosed that it has sold its remaining stakes with Wells Fargo during the first quarter.[137]. 2014 Annual Meeting Highlight Reel. Despite this, Berkshire sold its entire holdings in 2020. In the late 1970s, Berkshire acquired an equity stake in the Government Employees Insurance Company (GEICO), which forms the core of its insurance operations today (and is a major source of capital for Berkshire Hathaway's other investments). Org chart of Berkshire Hathaway segments Berkshire Hathaway Subsidiaries. Max Reyes. On December 25, 2007, Berkshire Hathaway acquired Marmon Group. Hathaway had been successful in its first decades, but it suffered during a general decline in the textile industry after World War I. From its Addison, Illinois, headquarters, The Pampered Chef utilizes a network of more than 65,000 independent sales representatives to sell its products through home-based party demonstrations, principally in the United States. Alongside the preferred stock investment, Berkshire obtained warrants allowing Berkshire to buy 700 million common shares at $7.14 per share any time before September 2, 2021. [49] Berkshire Hathaway sold Applied Underwriters in 2019. A day after Charlie Munger, vice chairman of the Warren Buffet-led Berkshire Hathaway (NYSE . Berkshire acquired McLane Company, Inc., in May 2003 from Walmart, which brought on other subsidiaries such as Professional Datasolutions, Inc., and Salado Sales, among others. [39], On May 3, 2021, Warren Buffett chose Greg Abel to be his successor as CEO of Berkshire Hathaway. . As of March2013[update], BH Media owned 28 daily and 42 non-daily newspapers. Since 2010, Todd Combs and Ted Weschler also work alongside Buffett in managing investments. Greg Abel is. Save for one buy and one sell. Last month the Climate Action 100+ coalition, which includes hundreds of investors that collectively manage assets worth more than $54 trillion, published assessments of 159 major emitting companies climate plans and performance. Updated February 27, 2023. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. However, due to Joe Smyth is a Research and Communications Manager for the Energy and Policy Institute. watch now. However, this made Buffett the majority owner of a failing textile business. Weitz, 72, founded his namesake Omaha-based firm in 1983. The home furnishings businesses are Homemakers Furniture,[69] Nebraska Furniture Mart, Jordan's Furniture, Inc., RC Willey Home Furnishings, and Star Furniture Company. [107] Based on the share price in June 2017, this position has yielded a profit of more than $10 billion excluding the annual interest earned from the preferred stock. Eventually, Buffett acknowledged that the textile business was waning and the company's financial situation was not going to improve. Investor alerts. Berkshire Hathaways board of directors is opposing a proposal from major shareholder groups that the company publish an annual report disclosing the climate risks it faces, even as the companys energy subsidiaries remain heavily invested in fossil fuels and have been impacted by extreme weather events. They would be sold by brokers working for big commissions, would impose other burdensome costs on their shareholders, and would be marketed en masse to unsophisticated buyers, apt to be seduced by our past record and beguiled by the publicity Berkshire and I have received in recent years. By the end of 2013 Berkshire Hathaway entered the residential real estate brokerage sector under the name of HomeServices of America. write us at the address shown above. Read more: Famed economist David Rosenberg says investors are falling into a classic market trap that's historically preceded a further meltdown and warns 'there's not going to be much of a recovery', Notable past and present roles: Berkshire director (2018 - present); Berkshire vice chairman of non-insurance operations (2018 - present); Berkshire Hathaway Energy CEO (2008-2018); Kraft Heinz director (2015 - present), Read more: MORGAN STANLEY: Buy these 23 high-growth stocks that look poised to deliver market-beating returns over the long term, Notable past and present roles: Berkshire director (2018 - present); Berkshire vice chairman of insurance operations (2018 - present); executive vice president of National Indemnity (1996 - present). [118] The company also holds part of newspaper publisher Lee Enterprises after buying some of Lee's debt after its bankruptcy filing. [14][15], Buffett's letters to shareholders are published annually. In 1962, Warren Buffett began buying stock in Berkshire Hathaway after noticing a pattern in the price direction of its stock whenever the company closed a mill. [32] On September 12, 2011, Berkshire Hathaway announced that 50-year-old Ted Weschler, founder of Peninsula Capital Advisors, will join Berkshire in early 2012 as a second investment manager. Board of Directors Members Frank R. Martire, Executive Chairman, NCR Corporation Michael Hayford, Chief Executive Officer, NCR Corporation Mark Begor, Chief Executive Officer, Equifax Gregory Blank, Managing Director, Blackstone Catherine L. Burke, Global Vice Chairman and Chief Corporate Strategy Officer at DJE Holdings Read more: Bank of America says a new bubble may be forming in the stock market and shares a cheap strategy for protection that is 'significantly' more profitable than during the past 10 years, Notable past and present roles:Berkshire director (2003 - present); Microsoft general manager and other positions (1987 - 1999); CameoWorks strategic advisor (2017 - present); Brooks Running advisory board member (2012 - present), Notable past and present roles:Berkshire director (2004 - present); Capital Cities/ABC chairman and CEO (1996-1990), Notes:Buffett told Lawrence Cunningham, author of "Berkshire Beyond Buffett," that "most of what I learned about management, I learnt from Murph. Howard G. Buffet, President of Buffett Farms and Chairman and Chief Executive Officer of the Howard G. Buffett Foundation (and Warren Buffet's son) In a supporting statement for the proposal, the shareholder groups explain: Climate change and the energy transition to a low-carbon economy pose a systemic risk to the economy. Later, in one of Buffett's interviews, he described this as "a major mistake" as the price of oil collapsed. The investor's company raised its stake in the truck-stop chain from 38.6% to 80%. May 3, 2021 By Nick Clarkson, Web Editor May 3, 2021, 11:51 am . Berkshire made an after-tax loss of $444 million on the Tesco investment. Headquartered in Fort Worth, Texas, TTI is the largest distributor specialist of passive, interconnect, and electromechanical components. Berkshire's other investments tied to real estate include Clayton Homes, which makes manufactured housing. On Wednesday, March 1, 2023, a Delaware judge dismissed claims against directors of McDonalds . Reporters and analysts embrace its existence as well. In 2002, Berkshire acquired Albecca Inc. Albecca is headquartered in Norcross, Georgia, and primarily does business under the Larson-Juhl name. 1-888-395-6349, 24 HOURS A DAY. ", The salary for Buffett is $100,000 per year with no stock options, which is among the lowest salaries[23] for CEOs of large companies in the United States.[24]. These risks and the boards approach to their management, including any plans to achieve net-zero emissions, should be disclosed to enable these to be appraised by investors. While most of those goals are too slow to meet President Bidens goal of decarbonizing the electricity sector by 2035, the goals reflect the utilities response to investors and customers expectations. Berkshire Hathaway's Chief Executive Officer and Chairman of the Board is Warren E. Buffett. [18][19][20], As of July13, 2016[update], Buffett owned 31.7% aggregate voting power of Berkshire's shares outstanding and 18.0% of the economic value of those shares. In 1986, Scott Fetzer Companies, a diversified group of 32 brands that manufactures and distributes a significant number of products for residential, industrial, and institutional use, was acquired. Requests should be submitted to the Company at 3555 Farnam St., Suite 1440, Omaha, NE 68131. Board of Directors. Beyond its energy subsidiaries, other Berkshire Hathaway subsidiaries also remain invested in fossil fuels. Last year the company purchased a major gas pipeline network, which CNBC reported means that Berkshire Hathaway Energy will carry 18% of all interstate natural gas transmission in the United States. The purchase added to Berkshire Hathaway Energy existing gas pipeline networks including Northern Natural Gas, the largest in the U.S. (measured by pipeline miles), and Kern River, which delivered about a quarter of Californias gas demand in 2019. [134] In 2017, Berkshire was the largest shareholder in United Airlines and Delta Air Lines and a top 3 shareholder in Southwest Airlines and American Airlines. [12], In 2010, Buffett claimed that purchasing Berkshire Hathaway was the biggest investment mistake he had ever made, and claimed that it had denied him compounded investment returns of about $200billion over the subsequent 45 years. [79] In 2013, the company purchased the Tulsa World, the Greensboro, North Carolina-based News & Record, Virginia's Roanoke Times, and Press of Atlantic City. Berkshire later sold back $1.4 billion worth of shares to Phillips 66 in exchange for Phillips Specialty Products. B y John McCrank and Jonathan Stempel NEW YORK, May 3 (Reuters) - For some Berkshire Hathaway shareholders a list of post-pandemic challenges including looming inflation, a dearth of. McLane provides wholesale distribution and logistics services in all 50 states and internationally in Brazil to customers that include discount retailers, convenience stores, quick-service restaurants, drug stores and movie theatre complexes. Buffett had previously described airlines as a "deathtrap for investors". Nevertheless, while this is no high-growth enterprise, Berkshire has a lot to offer investors of all kinds over the long term. [87] Scottsdale-based Store Capital is a real-estate investment trust, holding more than 1,700 properties across 48 states. From April to September 2022, he assumed the roles of Interim Chief Executive Officer . We consider the Companys current level of disclosure to be insufficient for investors to fully appraise its material climate-related risks and opportunities. ", "The Scott Fetzer Company Brand Portfolio", "Berkshire Hathaway Inc. To Acquire 60% of Pritzker Family Company, Marmon Holdings, Inc", "Kathryn Farmer becomes the first woman CEO of an American railroad", "Warren Buffett Jumps Into Autos, Buying Van Tuyl Group", "Billionaire Warren Buffett's Berkshire Hathaway buys North Park Toyota", "Why Warren Buffett Just Bought Duracell", "Chairman's letter 2008 Annual Report, p.13", https://www.cnbc.com/berkshire-hathaway-portfolio/, "Buffett's Bumpy Ride With IBM Draws to a Close With Stock Sales", "Warren Buffett says Berkshire Hathaway has sold completely out of IBM", "Warren Buffett's Berkshire Hathaway buys 75M more Apple shares, sells off IBM", "Goldman Sachs | Press Releases - Berkshire Hathaway to Invest $5 Billion in Goldman Sachs", "Warren Buffett's billion-$$ Goldman bet pays off", "Franc Reverses Gain Versus Dollar as Buffett Buys Bank of America Shares", Car Designer Sees China's Wheels Electric-powered, "Berkshire Hathaway Inc. to Acquire Burlington Northern Santa Fe Corporation (BNSF) for $100 Per Share in Cash and Stock", "Berkshire Hathaway to Buy Lubrizol for $9billion", "Warren Buffett to meet policyholders in India", "Berkshire and 3G Capital in a $23 Billion Deal for Heinz", "Berkshire Hathaway Becomes Majority Owner of H.J. [52][53] There was speculation a bidding war could erupt for the company, with Barron's citing Markel, W.R. Berkley, Chubb, and Loews along with Pershing Square as potential suitors. In July, Berkshire acquired a 90% equity interest in MiTek Inc., which makes engineered connector products, engineering software and services, and manufacturing machinery for the truss fabrication segment of the building components industry and is headquartered in Chesterfield, Missouri. Products are researched, designed, and tested by The Pampered Chef, and manufactured by third-party suppliers. Continuing to serve on the 2021 Board of Directors are Kathy Carroll of Berkshire Hathaway HomeServices Stouffer Realty; Sharon Drummond of RE/MAX Valley Real Estate; Breanna Fitzgerald. [84], In late June 2017, Berkshire Hathaway indirectly acquired Home Capital Group Inc for $400 million giving lifeline to the Toronto-based embattled mortgage lender.[85]. In 2008, Berkshire purchased preferred stock in Wrigley, Goldman Sachs, and GE totaling $14.5billion. Read more: David Herro was the world's best international stock picker for a decade straight. Buffett has spoken very highly of both in public interviews and in the 2015 letter to shareholders he described hiring them both as "one of my best moves". [6][7], Berkshire is the seventh largest component of the S&P 500 index and the top-ranked company in the Forbes Global 2000, which takes into account both market value and fundamental data. Charles Schwab Investment Management, Inc. T. Rowe Price Associates, Inc. (Investment Management). The meetings, nicknamed "Woodstock for Capitalists", are considered Omaha's largest annual event along with the baseball College World Series. [114][115], On February 14, 2013, Berkshire Hathaway Inc and 3G Capital announced plans to purchase H.J. Today, Campbell Hausfeld is no longer held by Scott Fetzer, having been sold to Marmon, also a Berkshire subsidiary in 2015. The moves expand the size of Berkshires board to 15. [89], On March 30, 2007, Berkshire Hathaway announced TTI, Inc., to be part of the Berkshire Hathaway Group. [41] Berkshire Hathaway's market capitalization was valued at over US$496 billion in September 2018. [80], On March 12, 2014, it was announced that Graham Holdings Company would divest its Miami television station, ABC affiliate WPLG to BH Media in a cash and stock deal. View detailed GOOG description & address. Berkshire Hathaway Energy subsidiaries have also increased their investments in gas infrastructure. Oct. 20, 2021 6:12 pm ET Order Reprints Print Article Berkshire Hathaway has named Susan Buffett, the daughter of CEO and Chairman Warren Buffett, and investment manager Chris Davis to its. Attendance has grown over the years with 2018 numbers totaling over 40,000 people. MARK D. MILLARD, But I want you to know it's no personality changes taking place. But amid today's market forces and as Buffett takes small steps back from the helm . Justin Brands is made up of Chippewa Boots, Justin Boots, Justin Original Workboots, Nocona Boots, and Tony Lama Boots. Transmission, HomeServices of America, Inc., MidAmerican Energy Company, Northern Powergrid Holdings Company, NV Energy, Inc. and PacifiCorp. But the utilitys integrated resource plan leaves other coal plants running beyond 2030. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. The Bill and Melinda Gates Foundation is a large shareholder of Berkshire, owning 4.0% of Class B Shares. American Airline's CEO Doug Parker is said to have won over Ted Weschler in arguing that the airline industry had consolidated sufficiently and rationalized supply such that longer-term profitability could be achieved in an industry that has historically been loss-making in aggregate. FlightSafety is the world's leading provider of professional aviation training services. [4], The company's insurance brands include auto insurer GEICO and reinsurance firm General Re. "One of the fellows in the office that manage money [] bought some Amazon so it will show up in the 13F," Buffett told CNBC. However, seven of those locations were closed by the end of the decade, accompanied by large layoffs. John. In 1977, Berkshire Hathaway purchased the Buffalo Evening News and resumed publication of a Sunday edition of the paper that had ceased in 1914. Buffett sold around 30% of this stake in 2013 when he "soured somewhat on the company's then-management"[132] realizing a profit of $43 million. Berkshire Hathaway released 2021 financial results today along with Warren Buffett's annual letter to shareholders. [133], In 2016, Berkshire surprised investors by making large equity investments in the major US airlines.
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