berkshire hathaway board of directors 2021

Profit on the preferred stock was estimated at $1.8 billion[105] and exercising the warrants has yielded a profit of more than $2 billion, although Berkshire's continued ownership of shares in Goldman Sachs means the entire profit cannot be quantified. On Wednesday, March 1, 2023, a Delaware judge dismissed claims against directors of McDonalds . On December 25, 2007, Berkshire Hathaway acquired Marmon Group. [39], On May 3, 2021, Warren Buffett chose Greg Abel to be his successor as CEO of Berkshire Hathaway. 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. In 2002, Berkshire acquired The Pampered Chef, Ltd., the largest direct seller of kitchen tools in the United States. The Haslam family will retain control of day-to-day operations of the company.[74]. Berkshire Hathaway Energy subsidiaries have also increased their investments in gas infrastructure. AF Group. Warren Buffett, the chairman and chief executive of Berkshire Hathaway for more than 50 years. On June 8, 2017, it was announced that Berkshire Hathaway had settled with California's insurance regulator, allowing its Applied Underwriters unit to sell a revised version of its "controversial" compensation insurance policies for workers in the state. A much larger group of investors also recently highlighted Berkshire Hathaways failures in its approach to climate change. Major investors disagree - Energy and Policy Institute, Money trail in FirstEnergy corruption scandal leads outside Ohio. Berkshire Hathaway's annual letter to shareholders and latest earnings is expected this weekend. [119], On August 10, 2015, the boards of directors of Berkshire Hathaway Inc. and Precision Castparts Corp. unanimously approved a definitive agreement for Berkshire Hathaway to acquire, for $235 per share in cash, all outstanding PCC shares. . Products are researched, designed, and tested by The Pampered Chef, and manufactured by third-party suppliers. FlightSafety is the world's leading provider of professional aviation training services. But the utilitys integrated resource plan leaves other coal plants running beyond 2030. [64], On August 7, 2003, Berkshire acquired Clayton Homes, Inc. Clayton, headquartered near Knoxville, Tennessee, is a vertically integrated manufactured housing company. Companies, Charlie Munger's Letters to Wesco Shareholders, Celebrating 50 Years of a Profitable Partnership, Information Regarding Warren E. Buffett's Annual Contributions to Five Foundations, Facts Regarding Berkshire's 2021 Investments in Activision Common Stock. The current members of the board of directors of Berkshire Hathaway are Warren Buffett (Chairman), Charlie Munger (Vice Chairman), Greg Abel (Vice Chairman), Ajit Jain (Vice Chairman), Chris Davis, Susan Alice Buffett (Warren's daughter), Howard Graham Buffett (Warren's son), Ronald Olson, Kenneth Chenault, Steve Burke, Susan Decker, Meryl Witmer, Charlotte Guyman. Berkshire then restarted buying Apple stock again between September to December. [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. [108], In September 2008, MidAmerican Energy Holdings, a subsidiary of Warren Buffett's Berkshire Hathaway Inc., invested about US$230million for a 10% (or 9.89%[109]) share of BYD @ HK$8/share. 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. An error has occurred, please try again later. Using, therefore, the 2021 figures, only 128 . Until a name change on April 30, 2014, Berkshire Hathaway Energy was known as MidAmerican Energy Holdings Co. On June 21, 2005, Berkshire Hathaway agreed to purchase Forest River Inc., the world's largest seller of recreational vehicles, from Pete Liegl. Companies - Justin Brands", "Berkshire Hathaway Inc. Acquires MiTek Inc", "Berkshire Hathaway to Acquire Shaw Industries", "Berkshire Hathaway Inc, Form 10-Q, Quarterly Report, Filing Date Aug 11, 2003", "Albert Lee Ueltschi, the Father of Modern Aviation Training, Dies at 95", "Welcome - FlightSafety International Inc", "Berkshire Hathaway Inc. to Acquire Executive Jet, Inc", "Berkshire to Buy Oriental Trading Company", "Berkshire Hathaway to Acquire Oriental Trading Company", "Warren Buffett, Berkshire Hathaway buying Pilot Flying J truck stops", "Berkshire Hathaway to Buy Omaha World-Herald Newspaper", "Media General Shares Soar After Warren Buffett Agrees To Buy Its Newspaper", "Berkshire Adds Waco Newspaper, Expanding Media Wager", "Buffett: Local papers have healthy future", "Warren Buffett Buys Post-Newsweek's WPLG", "Warren Buffett Will Sell His Newspaper Empire", "Warren Buffett Can't Buy Real Estate Agencies Fast Enough", "Berkshire Hathaway Inc, Form 6-K, Filing Date Oct 30, 2012", "Canadian real estate industry welcomes Buffett to the neighbourhood", "Metro Phoenix Real-Estate Attracts Warren Buffett", "Why Is Buffett Not Interested in Buying Real Estate? [31] Five months later, Berkshire announced that Todd Combs, manager of the hedge fund Castle Point Capital, would join them as an investment manager. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. [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. See the full leadership team at Craft. Pacificorp received an F grade in a report published by the Sierra Club and UC Santa Barbara Professor Leah Stokes, which found that the utilitys plans leave it with the most remaining coal without a 2030 retirement commitment of any U.S. electric utility. Updated October 20, 2022. Berkshire Hathaway CEO Warren Buffett. From humble beginnings, Buffett, known to millions as the ultimate no-nonsense value investor, has amassed a $100bn (72bn) fortune leading Berkshire Hathaway, a $644bn investment group. [14][15], Buffett's letters to shareholders are published annually. 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). [35] At the end of 2017, the firm's cash and cash equivalent holdings rose to $116 billion. The companys resistance to disclosing climate risks to investors comes as financial regulators move to strengthen corporate climate risk disclosure rules, and the Biden administration is expected to announce an executive order on climate related financial risk. 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. Buffett had previously described airlines as a "deathtrap for investors". There are currently 12 people on the board of directors of Berkshire Hathaway. Read more: 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, Notable past and present roles: Berkshire director (1993 - present); Sheriff of Macon County, Illinois (2017 - 2018); Howard G. Buffett Foundation chairman and CEO (2013 - present), Warren Buffett's son (1954 - present), Notable past and present roles:Berkshire director (2009 - present); NBCUniversal chairman (2020 - present); NBCUniversal CEO and Comcast senior executive vice president (2011 - 2019); JPMorgan director (2004 - present). [133], In 2016, Berkshire surprised investors by making large equity investments in the major US airlines. Feb 25, 2021 5:00PM EST. Howard G. Buffet, President of Buffett Farms and Chairman and Chief Executive Officer of the Howard G. Buffett Foundation (and Warren Buffet's son) watch now. 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. In 2006, Berkshire Hathaway acquired Russell Corporation for $600 million, in fact getting most shares and brands in many sports leagues including Spalding NBA official basketballs, BIKE Athletic Company protections, AAI (American Athletic) Gymnastics' tables, bars, rings, horses or Dudley softball balls and accessories. To the Shareholders of Berkshire Hathaway Inc.: . That caused Berkshire to fall out of compliance with New York Stock Exchange rules requiring that a majority of board members be independent. BERKSHIRE HATHAWAY INC. : Shareholders Board Members Managers and Company Profile | US0846701086 | MarketScreener Homepage Equities United States Nyse Berkshire Hathaway Inc. Company BRK.A US0846701086 BERKSHIRE HATHAWAY INC. (BRK.A) Add to my list Report Summary Quotes Charts News Ratings Calendar Company Financials Consensus Revisions Funds After widespread public opposition in legislative hearings, the bill failed last month. We consider the Companys current level of disclosure to be insufficient for investors to fully appraise its material climate-related risks and opportunities. VIDEO 00:00. Gerard Miller | CNBC The question of who would take over after Buffett has been a source of speculation for over 15 years. The Chief Executive Officer, Warren E. Buffet Charles T. Munger, Vice Chairman of Berkshire Hathaway. [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. Businesses engaged in the manufacture and distribution of clothing include Union Underwear Corp. Fruit of the Loom, Garan, Russell Corporation and Fechheimer Brothers. watch now. [95], As well as owning companies outright, Berkshire maintains a concentrated portfolio of equities and investments which has historically been managed by Warren Buffett. [57] Buffett frequently referred to Phillips 66 as one of the best businesses Berkshire invested in because of its consistent dividends and share buyback programs. Board of Directors Hamilton E. James Chairman of the Board Susan Decker Director Kenneth D. Denman Director Richard A. Galanti Executive Vice President, CFO and Director W. Craig Jelinek CEO and Director Sally Jewell Director Charles T. Munger Director Jeff Raikes Director John W. Stanton Director Ron Vachris President, COO and Director Loan losses remain 3.6% up from 2.9%. At the peak of the financial crisis in September 2008, Berkshire invested $5 billion in preferred stock in Goldman Sachs to provide it with a source of funding when capital markets had become constrained. [126] Berkshire divested 86.2% of its stake by the next quarter. The 2004 movie featured Arnold Schwarzenegger in the role of "The Warrenator" who travels through time to stop Buffett and Munger's attempt to save the world from a "mega" corporation formed by Microsoft-Starbucks-Wal-Mart. Heinz Co. for $72.50 per share or $28 billion including debt. The meetings, nicknamed "Woodstock for Capitalists", are considered Omaha's largest annual event along with the baseball College World Series. From April to September 2022, he assumed the roles of Interim Chief Executive Officer . Mr. Katz has served on the board of directors of Berkshire Bancorp, Inc. since June 2013. Link to SEC Filings. At the Berkshire Hathaway 2021 annual meeting, executive vice chair Charlie Munger made an offhand remarking identifying Greg Abel as the successor to CEO Warren Buffett. The sure outcome: a multitude of investors destined to be disappointed. All companies should recognize and appraise physical and transitional climate risks. Notable past and present roles:Berkshire director (2007 - present); Costco director (2004 - present); SurveyMonkey director (2017 - present); Vox Media director (2016 - present); Raftr founder and CEO (2017 - present); Yahoo! Berkshire Hathaway Energy lobbyists have also pushed a proposal to build ten new gas plants in Texas. 17-min read Warren Buffett addressed investors around the world on Saturday at. At a Wyoming Senate committee hearing, Rocky Mountain Power lobbyist Jon Cox said that Our company does support this legislation.. [78], In 2012, Berkshire Hathaway bought Texas dailies The Eagle in Bryan-College Station and the Waco Tribune-Herald. Already a member? [87] Scottsdale-based Store Capital is a real-estate investment trust, holding more than 1,700 properties across 48 states. VIDEO 00:00. Other executives include Marc D. Hamburg, Senior Vice-President and Chief Financial Officer; Gregory E. Abel, Vice Chairman of Non-Insurance Operations and 2 others. [] identify any material gaps or misstatements in issuers disclosure of climate risks, reports the Energy & Policy [], [] supporting the resolution, including California Public Employees Retirement System, explicitly noted: We consider the Companys current level of disclosure to be insufficient for investors to []. TTI's extensive product line includes; resistors, capacitors, connectors, potentiometers, trimmers, magnetic and circuit protection components, wire and cable, identification products, application tools, and electromechanical devices. Buffett: I'm staying on Coke's board. 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. Director of Financial Assets. [30], In May 2010, three months away from his 80th birthday, Buffett said he would be succeeded at Berkshire Hathaway by a team consisting of a CEO and three or four investment managers, each of the latter would be responsible for a "significant portion of Berkshire's investment portfolio". Clayton's finance business, (loans to manufactured home owners), earned $206million down from $526million in 2007. [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. 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. MARK D. MILLARD, What Buffett looks for in annual reports. Berkshire Hathaway Inc. announced that Susan A. Buffett and Christopher C. Davis have each been elected to the Board of Directors of Berkshire Hathaway Inc. Ms. Buffett is the Chairman of the Susan Thompson Buffett Foundation and the Chairman of the Sherwood Foundation. Scott Fetzer also manufactures Ginsu knives and World Book Encyclopedia. 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. [118] The company also holds part of newspaper publisher Lee Enterprises after buying some of Lee's debt after its bankruptcy filing. -, 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). This is an undervalued stock worth considering for 2021. [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. Transmission, HomeServices of America, Inc., MidAmerican Energy Company, Northern Powergrid Holdings Company, NV Energy, Inc. and PacifiCorp. As Tesco's problems mounted through 2014, Berkshire sold all the remaining shares with Buffett saying to shareholders that the delay in selling shares was costly. [36], On January 10, 2018, Berkshire Hathaway appointed Ajit Jain and Greg Abel to vice-chairman roles. Berkshire Hathaway's Chief Executive Officer and Chairman of the Board is Warren E. Buffett. Susan Buffett and Christopher Davis Elected to Board of Directors August 7, 2021 Second Quarter Earnings 2021 August 5, 2021 Information Regarding Second Quarter Earnings Release June 23, 2021 Comments by Warren E. Buffett in conjunction with his annual contribution of Berkshire Hathaway shares to five foundations May 1, 2021 Mr. Davis is Chairman of Davis Select Advisors. [citation needed] On April 23, 2010, Mitek acquired the assets of Dur-O-Wal from Dayton Superior. Berkshire Hathaway In 2019, the NetJets program operated more than 10 aircraft types with a fleet size of greater than 750. [26] Known for their humor and light-heartedness, the meetings typically start with a movie made for Berkshire shareholders. Weitz, 72, founded his namesake Omaha-based firm in 1983. 2 min read Berkshire Hathaway's ( BRK-A, BRK-B) annual shareholders meeting will take place in Los Angeles, California, with Warren Buffett and his long-time. provide a direct response. Hathaway had been successful in its first decades, but it suffered during a general decline in the textile industry after World War I. 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. This copy is for your personal, non-commercial use only. [28] The meeting, scheduled to last 68 hours, is an opportunity for investors to ask Buffett and Munger questions. The SEC also announced the creation of a climate task force within its enforcement division that will identify any material gaps or misstatements in issuers disclosure of climate risks, and is seeking public comment as it updates rules around how publicly traded companies disclose climate risks. In November 2012, Berkshire announced they would acquire the Oriental Trading Company, a direct marketing company for novelty items, small toys, and party items. [68] NetJets is the world's leading provider of fractional ownership programs for general aviation aircraft. Charles Schwab Investment Management, Inc. T. Rowe Price Associates, Inc. (Investment Management). [89] The two most significant of these businesses are Kirby home cleaning systems and Wayne Water Systems and Campbell Hausfeld products. ", Notable past and present roles: Berkshire director (1997 - present); Munger, Tolles & Olson cofounder and partner (1962 - present); The Washington Post Company director (2003 - 2017), Source: Berkshire Hathaway; Graham Holdings, Read more: GOLDMAN SACHS: Buy these 25 stocks that are wildly popular with hedge funds and have crushed the market this year, Notable past and present roles: Berkshire director (1988 - present); Peter Kiewit Sons CEO (1979 - 1998). David Herro was the world's best international stock picker for a decade straight. [90] In September 2020, BNSF Railway, among Berkshire Hathaway's largest entities, hired its first female CEO, Kathryn Farmer. [55] This move was touted as an example of Warren Buffett's "disdain" for investment bankers. [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. These are the highlights of the 2021 Berkshire Hathaway annual meeting. The fight over net metering in Nevada also spurred HGTV star Jonathon Scott to produce Power Trip, a film about monopoly utilities attacks on residential solar policies. Pacificorp coal plants also consume more water in the arid western U.S. than those of any other power provider; those plants are subject to growing supply risks and conflicts as climate change fuels hotter and drier conditions in the region. 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. Paul Morigi / Stringer / Getty Images Warren Buffett called out Theranos for appointing political and military leaders to its board. [56], In 2008, Berkshire owned 85 million shares of ConocoPhillips. In addition to Berkshire Hathaway Energys exposure to climate transition risks from its fossil fuel investments, the company is also exposed to physical climate risks, such as fires, drought, and stronger storms. On August 26, 2011, Berkshire Hathaway purchased $5 billion of preferred shares in Bank of America. Warren Buffett's Berkshire Hathaway finally found stocks worth buying in 2022, going by its annual report. [123], On April 6, 2022, Berkshire Hathaway disclosed in its regulatory filing that the company had bought 121 million shares of HP Inc. valued at more than $4.2 billion. [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. CEO Name CEO Pay Median Employee Pay CEO Pay Ratio Warren E. Buffett CEO Pay$373,204 Median Employee Pay$58,881 CEO Pay Ratio6:1 Browse Board of Directors By First Name A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Clayton's homes are marketed in 48 states through a network of 1,540 retailers, 391 of which are company-owned sales centers. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. He has been in this role since January 2018, and has been a member of the Berkshire Hathaway board of directors since. He was formerly the Chief Equality and Recruiting Officer at Salesforce, which he joined in September 2016 until July 2021. He breaks down 8 stocks he bet on after the coronavirus decimated markets and 3 he sold. Copyright 1978-2023 Berkshire Hathaway Inc. Buffett himself has described this as a "call on the industry" rather than a choice in an individual company. [122], Between September 2019 and August 2020, Berkshire purchased more than 5% of the outstanding stock of each of the five largest Japanese general trading companies (Itochu, Mitsubishi, Mitsui, Sumitomo, and Marubeni) through its National Indemnity subsidiary. Today, Campbell Hausfeld is no longer held by Scott Fetzer, having been sold to Marmon, also a Berkshire subsidiary in 2015. Warren Buffett's Berkshire Hathaway paid $8.2 billion to acquire Pilot Travel Centers in January. [9], Berkshire Hathaway traces its roots to a textile manufacturing company established by Oliver Chace in 1839 as the Valley Falls Company in Valley Falls, Rhode Island. However, due to 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. The MEMIC Group. [25] The 2007 meeting had an attendance of approximately 27,000. [116] The company became a majority owner of Heinz on June 18, 2015, after exercising a warrant to acquire 46.2 million shares of common stock for a total price of $462 million increasing its stake to 52.5%. Buffett agreed to the deal. 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. In a report presented at the Edison Electric Institute Financial Conference in November 2020, Berkshire Hathaway noted some of the weather events that impacted Pacificorp in just the month of September 2020, including hurricane-force winds in Utah, several major wildfires in California and Oregon, and damage to hundreds of transmission and distribution poles. [114][115], On February 14, 2013, Berkshire Hathaway Inc and 3G Capital announced plans to purchase H.J. The top shareholders of Berkshire Hathaway class B shares are Warren E. Buffett, Ronald L. Olson, Meryl B. Witmer, Vanguard Group Inc., BlackRock Inc. ( BLK ), and State Street Corp. ( STT . Board of Directors. We've detected you are on Internet Explorer. In 2002, Berkshire acquired the remaining 12.7 percent of Shaw. 3. 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 . However, Berkshire Hathaway 's (NYSE: BRK.A . INTRODUCTION AND RESPONSIBILITIES. [89], On March 30, 2007, Berkshire Hathaway announced TTI, Inc., to be part of the Berkshire Hathaway Group. [106] The investment has an annual interest cost of 6% earning Berkshire $300 million in annual interest. Berkshire Hathaway Energy Investor Presentations. Shanfelter has served on Orion Group's Board of Directors since 2007 and was named Chairman in January 2021. [136], In 2022, Berkshire Hathaway disclosed that it has sold its remaining stakes with Wells Fargo during the first quarter.[137]. [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. Notable past and present roles:Berkshire director (2020 - present); General Catalyst chairman and managing director (2018 - present); American Express CEO (2001 - 2018); Facebook director (2018-2020). [135] In April 2020 Berkshire sold all shares in US Airlines in response to the COVID-19 pandemic. Collectively, the aggregate statutory surplus of Berkshire's U.S.-based insurers was approximately $48billion as of December31, 2004[update]. 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. Copyright 2023 Surperformance. [91], On October 2, 2014, Berkshire Hathaway Automotive, an auto dealership subsidiary, was created through the acquisition of Van Tuyl Group, the remaining largest auto dealer in the nation and independently owned up to that date. [112], On March 25, 2011, Berkshire Hathaway made its first foray[113] into the Indian insurance sector with its non-direct subsidiary BerkshireInsurance.com. The preferred stock yielded an annual interest rate of 10% earning Berkshire $500 million in interest income per year. This copy is for your personal, non-commercial use only. Save for one buy and one sell. Also in June 2017, Berkshire's $377 million investment and 10 percent purchase in Store Capital[86] makes it the company's third-largest investor, after Vanguard Group and Fidelity Investments. He is currently the chairman and CEO of Berkshire Hathaway. Berkshire Hathaway CEO Warren Buffett Director @ Precision Castparts Move Vice Chairman of the Board Charles Munger Move Director Susan Buffett Move Director Howard Buffett Move Director Stephen Burke Move Director Kenneth Chenault Move Director Christopher Davis Move Director Susan Decker Move Director David Gottesman Move Director [13], Berkshire's class A shares sold for $465,725 as of January 5, 2022, making them the highest-priced shares on the New York Stock Exchange, in part because they have never had a stock split and have only paid a dividend once since Warren Buffett took over, retaining corporate earnings on its balance sheet in a manner that is impermissible for mutual funds. Berkshire acquired Russell Corporation on August 2, 2006, for $600million. The Board of Directors has fixed the close of business on March 2, 2022 as the record date for By December 31, 2016, Berkshire had built up a stake of 57.4 million shares (1.1% of Apple) with an estimated average acquisition price of $110 per share (before the 2020 4:1 split). [70] This joined Berkshire's other jeweler acquisition, Helzberg Diamonds. [99] After a selloff of IBM stock in February 2018,[100] on May 4, 2018, Buffett announced that Berkshire had completely sold its stake in IBM, and purchased more of Apple.[101][102][103]. [72][73], On October 3, 2017, it was announced that Berkshire Hathaway will acquire 38.6% of truck stop chain Pilot Flying J, with plans to increase its stake to 80% in 2023.

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