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☆ Warren Buffett calls out stock-market gamblers and honors the late Charlie Munger in his annual letter
▼ + stars: | 2024-02-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Warren Buffett hailed Charlie Munger as the "architect" of Berkshire Hathaway in his annual letter. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett paid tribute to Charlie Munger, touted four of Berkshire Hathaway's biggest bets, and voiced frustration in his annual letter to shareholders published on Saturday. He shaped Berkshire into a world-beating conglomerate and helped Buffett evolve from bargain hunting to buying businesses at fair prices.

Persons: Warren Buffett, Charlie Munger, Berkshire Hathaway, Buffett, —, Charlie, he's, Munger, Ajit Jain, Greg Abel, Bertie Organizations: Service, Berkshire, American Express, Occidental Petroleum Locations: Berkshire, Omaha , Nebraska, Munger, United States, Omaha

☆ Warren Buffett honors Charlie Munger in annual note, Berkshire reports record cash pile
▼ + stars: | 2024-02-24 | by ( Nicole Goodkind | Eva Rothenberg | ) edition.cnn.com time to read: +11 min

Courtesy of Susie Buffett Buffett teaches a class at the University of Nebraska-Omaha. Courtesy of Susie Buffett Buffett married his first wife, Susan, in 1952. Courtesy of Susie Buffett Buffett and his wife pose at the beach with their three children. Courtesy of Susie Buffett Buffett poses for a photo in 1980. Nati Harnik/AP Buffett and Berkshire Hathaway Vice Chairman Charlie Munger are seen on a giant screen during the Berkshire Hathaway shareholders meeting in 2013.

Persons: Warren Buffett’s, Charlie Munger, Buffett, Munger, ”, Charlie, Berkshire Hathaway, “ Charlie, Munger’s, Greg Abel, Abel, Berkshire’s, Greg, ” Buffett, “ Greg, Berkshire Berkshire Hathaway, Warren Buffett, Nati, Laila, Howard Buffett, Howard, Susie Buffett, Ernest, Susie Buffett Laila Buffett, Warren, Doris, Susie Buffett Warren Buffett, Susie Buffett Buffett, Susan, Peter, Lee Balterman, Salomon, Marcy Nighswander, AP Buffett, Buffett's, Mark Peterson, Curt Hudson, Arnold Schwarzenegger, Kathy Willens, Chris Machian, Dave Weaver, Michael Israel, John Sleezer, Bill Gates, Mario Tama, Barack Obama, Obama, doggedly, isn't, Jim Watson, Daniel Acker, Harry Benson, Getty Images Buffett, Astrid, David Cameron, Brendan Hoffman, Kristoffer Tripplaar, Alamy Buffett, Scott Eells, Chris, Franklin, Ndamukong Suh, Scott Olson, Huang Jihui, Jason Miller, Adam Jeffery, Hillary Clinton, Kempin, Forbes, Andy Kropa, Scott Morgan, Reuters Buffett, Andrew Harrer, Apple Berkshire Hathaway Organizations: New, New York CNN, Berkshire Hathaway, Investors, Oracle, “, Berkshire, Berkshire Berkshire, University of Nebraska -, Getty, Federal Reserve, AP, Omaha for Berkshire, Bloomberg, California Gov, Wall Street, Schwarzenegger's, Kansas City Royals, Kansas City Star, Girl Scouts, Buffett, Microsoft, Getty Images, White, British, Woodrow Wilson High, Washington, Forbes, Harlem Globetrotters, Cleveland Cavaliers, Moon, NBA, CNBC, Reuters, Apple Berkshire, Apple, Securities and Exchange Commission, HP, Paramount Locations: New York, Omaha, “ Berkshire, Berkshire, The Omaha , Nebraska, Omaha , Nebraska, University of Nebraska - Omaha, Omaha for, Woodstock, Trenton , New Jersey, AFP, Washington , DC, Illinois, Sun Valley , Idaho

☆ Warren Buffett’s highly anticipated annual letter arrives Saturday. Here’s what to expect
▼ + stars: | 2024-02-23 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Warren Buffett is about to release his must-read annual letter where he's expected to pay a heartwarming tribute to the late Charlie Munger. The 93-year-old chairman and CEO of Berkshire Hathaway is slated to release his annual shareholder letter Saturday at 8:00 a.m. "Succession is a top-of-mind issue for many Berkshire investors," Cathy Seifert, Berkshire analyst at CFRA Research, said in a note. Buffett's investment lieutenants, Todd Combs and Ted Weschler, have taken on more responsibilities at Berkshire, independently overseeing about $15 billion each. The run up in Berkshire shares may have curbed the amount of buyback activity in the fourth quarter.

Persons: Warren Buffett, Charlie Munger, Berkshire Hathaway, Steve Check, Munger, Buffett, Munger's, it's, Greg Abel, Cathy Seifert, Todd Combs, Ted Weschler, Todd, Ted Organizations: Check Capital Management, Berkshire, CFRA Research, Investors, Berkshire Hathaway, BNSF Railway Locations: Berkshire, Berkshire Hathaway The Omaha, Dairy

☆ Haslam family sells Berkshire Hathaway remaining 20% share of Pilot Travel Centers
▼ + stars: | 2024-01-16 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Jimmy Haslam, CEO of Pilot Flying J. and Warren Buffett, Chairman and CEO of Berkshire Hathaway. The Haslam family on Tuesday said its Pilot Corporation had closed the sale of its remaining 20% ownership interest in truck-stop giant Pilot Travel Centers to Berkshire Hathaway . That settlement avoided what was scheduled to be a two-day trial beginning Jan. 8, with testimony from Berkshire Hathaway executive Greg Abel, the designated successor to company CEO Warren Buffett. CNBC has requested comment from Berkshire Hathaway, which in a regulatory filing last year listed the Haslams' noncontrolling interest in Pilot Travel Centers at a value of around $3.2 billion. PTC is the largest operator of travel centers in North America, with more than 750 locations under the Pilot and Flying J brands.

Persons: Jimmy Haslam, Warren Buffett, Berkshire Hathaway, Haslam, Greg Abel Organizations: Berkshire, Pilot Corporation, Centers, Travel Centers, CNBC, Travel, PTC Locations: Berkshire, North America

Berkshire Hathaway settled a billion-dollar lawsuit with the Haslam family over how Berkshire accounted for the value of Pilot Travel Centers, which would affect the price paid in a forced buyout of the family's remaining stake in that truck-stop giant, both sides said Sunday night. The Haslam family and its Pilot Corp. in the suit filed this fall alleged that Berkshire Hathaway improperly adopted a form of accounting of the value of Pilot Travel Centers that would have led to a sharply lower price Berkshire would pay to acquire the family's remaining 20% stake in PTC. Berkshire in turn had accused Cleveland Browns owner Jimmy Haslam of offering payments to PTC executives to boost the value of the company so that his family would get a bigger buyout from Berkshire, which controls PTC. The Haslam family and Pilot Corp. strongly denied those claims. Berkshire and Pilot Corp. in similar press statements Sunday night said that they had reached an agreement to fully settle the Delaware Chancery case.

Persons: Berkshire Hathaway, Haslam, Greg Abel, Warren Buffett, Jimmy Haslam Organizations: Berkshire, Travel Centers, Pilot Corp, PTC, Cleveland Browns Locations: Berkshire, Delaware Chancery, New York, Delaware

☆ Charlie Munger's death brings home the inevitable future: Berkshire without Warren Buffett
▼ + stars: | 2023-12-03 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Greg Abel, vice chairman of Berkshire's non-insurance operations, became known as Buffett's heir apparent in 2021 after Munger inadvertently made the revelation . Ajit Jain, Berkshire's vice chairman of insurance operations, had been a top contender for the top job, but Buffett recently revealed that Jain "never wanted to run Berkshire." "All [Munger's passing] does is add to the conversation that what happens when Buffett's gone because this brings it home. Berkshire analysts believe the event won't notably alter Berkshire's transition plans. James Shanahan, Edward Jones' Berkshire analyst, also said he remains confident in the leadership of Berkshire following Munger's passing.

Persons: Charlie Munger, Warren Buffett's, Berkshire Hathaway, Greg Abel, Munger, Ajit Jain, Buffett, Jain, Abel, he's, Buffett's, Bill Stone, Warren Buffett, Catherine Seifert, James Shanahan, Edward Jones, CNBC's Becky Quick, Ted Weschler, Todd Combs Organizations: Oracle, Berkshire, Glenview Trust, CFRA's, MidAmerican Energy, Berkshire Hathaway Energy Locations: Berkshire, Omaha, Glenview, CFRA's Berkshire, Japan

☆ Munger and Buffett were unable to pull off one last deal together using Berkshire's $157 billion in cash
▼ + stars: | 2023-11-30 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Charlie Munger didn't manage to help pull off one final deal with his lifelong partner Warren Buffett, but he remained hopeful that Berkshire Hathaway , with nearly $160 billion cash, will find its elephant one day. Not very many," Munger said in CNBC's special "Charlie Munger: A Life of Wit and Wisdom," which aired Thursday. The Omaha-based conglomerate held a record level of cash — $157.2 billion — at the end of September. Squeeze new lemonsMunger, Berkshire's late vice chairman, said such a mammoth deal may have to be done by the next generation of leaders at the conglomerate. "There are worse situations than drowning in cash, and sitting, sitting, sitting.

Persons: Charlie Munger didn't, Warren Buffett, Berkshire Hathaway, Munger, Charlie Munger, CNBC's Becky Quick, Buffett, Berkshire's, Greg Abel, Buffett's, Ajit Jain, Ted Weschler, Todd Combs Organizations: Berkshire, Alleghany Corp, Dominion Locations: Omaha, Munger

☆ Meet Greg Abel, Warren Buffett's successor and heir apparent to Berkshire Hathaway
▼ + stars: | 2023-11-29 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Warren Buffett named Greg Abel, 61, as his successor at Berkshire Hathaway back in 2021. Abel started out as an accountant, before taking the reins as CEO of Berkshire Hathaway Energy. The Canadian businessman is currently chair of Berkshire Hathaway Energy and vice chair for non-insurance operations at Berkshire Hathaway. Abel took over the reins of MidAmerican in 2008, which was renamed Berkshire Hathaway Energy in 2014. Abel's tenure as Berkshire Hathaway Energy's CEO would last for two decades until he stepped down in 2018.

Persons: Warren Buffett, Greg Abel, Abel, Charlie Munger's, —, Berkshire Hathaway, Buffett, Greg who'd, CNBC's Becky Quick, Charlie Munger, Berkshire acolyte Abel, CalEnergy, Warren Buffett Abel, Greg, Munger, He's, Warren Organizations: Berkshire Hathaway, Berkshire Hathaway Energy, Service, Berkshire, CNBC, University of Alberta, mater's, PricewaterhouseCoopers, MidAmerican Energy, doer, Directors, Business Insider Locations: Berkshire, Canadian, MidAmerican, Munger

☆ Everybody could use a Charlie Munger
▼ + stars: | 2023-11-29 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 29 (Reuters Breakingviews) - Every great leader needs a Charlie Munger. The deputy to Berkshire Hathaway’s (BRKa.N) Warren Buffett died on Tuesday morning just a month shy of his 100th birthday. And Munger kept at it: at age 99, having served as Berkshire’s vice chairman since 1978, he was still giving interviews as recently as this month. Munger was capable when taking the opposite view from his boss, encouraging the kind of debate that fosters better decisions. Follow @thereallsl on XCONTEXT NEWSCharlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway, died at a California hospital, the company said on Nov. 28.

Persons: Charlie Munger, Warren Buffett, Munger, lobbing, ”, Buffett, CNBC’s Becky Quick, Greg Abel, Ajit Jain, That’s, Buffett’s, Berkshire Hathaway, ” Buffett, Jonathan Guilford, Sharon Lam Organizations: Reuters, Berkshire Hathaway’s, Berkshire, Costco Wholesale, Thomson Locations: Berkshire, Omaha, ”, California

☆ After Munger's death, Berkshire succession comes into focus
▼ + stars: | 2023-11-29 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/4] Berkshire Hathaway Inc Vice Chairman Charles Munger speaks at the Daily Journal annual meeting in Los Angeles, U.S., February 15, 2017. Munger's death on Tuesday, five weeks shy of his 100th birthday, leaves Berkshire Vice Chairmen Greg Abel and Ajit Jain, who respectively oversee its non-insurance and insurance businesses, as the 93-year-old Buffett's top advisers and sounding boards. At the 2021 annual meeting, Jain was asked how he and Abel interact with each other. "You don’t need them to be as good as Buffett or Munger to make Berkshire a good company and arguably a great company." "It particularly doesn't feel like an annual meeting because my partner of 60 years, Charlie Munger, is not sitting up here," Buffett said.

Persons: Charles Munger, Lucy Nicholson, Berkshire, Charlie Munger, Warren Buffett, Buffett, Munger, Munger's, Greg Abel, Ajit Jain, Abel, Jain, Warren, Charlie, Bill Stone, Howard Buffett, Todd Combs, Ted Weschler, Bill Smead, Whitney Tilson, Munger didn't, Jonathan Stempel, Megan Davies, Paritosh Bansal, Stephen Coates Organizations: Berkshire Hathaway, Daily, REUTERS, Berkshire Hathaway's, Berkshire, BNSF, Investors, Glenview Trust, Berkshire Hathaway Energy, University of Alberta, PricewaterhouseCoopers, Energy, MidAmerican's, Apple, Smead Capital Management, Kase Capital, Thomson Locations: Los Angeles , U.S, Berkshire, Omaha , Nebraska, Munger, Glenview, Edmonton, Alberta, Indian, Odisha, Phoenix, Woodstock, Omaha, New York

☆ Charlie Munger, investing genius and Warren Buffett's right-hand man, dies at age 99
▼ + stars: | 2023-11-28 | by ( Marty Steinberg | ) www.cnbc.com time to read: +8 min

In this article BRK.A Follow your favorite stocks CREATE FREE ACCOUNTwatch nowBillionaire Charlie Munger, the investing sage who made a fortune even before he became Warren Buffett's right-hand man at Berkshire Hathaway, has died at age 99. In addition to being Berkshire vice chairman, Munger was a real estate attorney, chairman and publisher of the Daily Journal Corp., a member of the Costco board, a philanthropist and an architect. We've gotten good at fishing where the fish are," the then-93-year-old Munger told the thousands of people at Berkshire's 2017 meeting. Warren Buffett (L), CEO of Berkshire Hathaway, and vice chairman Charlie Munger attend the 2019 annual shareholders meeting in Omaha, Nebraska, May 3, 2019. "Well, I would say basically we're like the captain of a ship when the worst typhoon that's ever happened comes," Munger told The Wall Street Journal in April 2020.

Persons: Charlie Munger, Warren Buffett's, Munger, Berkshire Hathaway, Buffett, Greg Abel, Benjamin Franklin, We've, Charles Thomas Munger, Alfred, Florence, Toody, didn't, Janet Lowe's, Nancy Huggins, Olson, Wheeler, Dean Scott Derue, Franklin Otis Booth, Booth, Derue, CNBC's Becky Quick, Charlie, He's, I've, Warren Buffett, Johannes Eisele, Goldman Sachs, We're, Oh goody, goody, everything's Organizations: Berkshire Hathaway, Berkshire, New, Daily Journal Corp, Costco, Buffett's Berkshire, CNBC, University of Michigan, Army Air Corps, California Institute of Technology, Scripps College, Harvard Law School, Tolles, Munger & Co, Michigan Ross Business School, Los Angeles Times, Buffett, Omaha, AFP, Getty, Bank of America, Wall Street Journal Locations: California, Munger, Pasadena , California, Berkshire, Omaha , Nebraska, Omaha, Warren, Pasadena

☆ Berkshire Hathaway vice chairman Charlie Munger dies at 99
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +12 min

Nov 28 (Reuters) - Charlie Munger, the longtime vice chairman and second-in-command to Warren Buffett at Berkshire Hathaway (BRKa.N), died on Tuesday morning at a California hospital. For stock-pickers like us to lose Charlie Munger, would be like if you’re a basketball fan and you lose Bill Russell. "I wouldn't think Berkshire will look much different, apart from Buffett no longer being able to share ideas with Munger. CATHERINE SEIFERT, VICE-PRESIDENT, CFRA RESEARCH, NEW YORK“Berkshire Hathaway shareholders are not going to be directly or negatively impacted from the passing of Charlie Munger. Therewass already a transition plan in place and there's a transition plan in place when Warren Buffett passes away.

Persons: Charlie Munger, Warren Buffett, Charlie, WHITNEY TILSON, BRIAN MOYNIHAN, Charlie Mungerwass, ” BURNS MCKINNEY, Bill Russell, ”, Berkshire Hathaway, ” PHIL ORLANDO, FEDERATED HERMES, BILL, Buffett, Munger, PHILLIP, —, STEVE SOSNICK, “, ” WIN MURRAY, DIAMOND, MARY JO, BILL SMEAD, Warren, ” “ Buffett, Todd Combs, Ted Weschler, ” PAUL LOUNTZIS, Greg Abel, I've, you'll, STEPHEN DODSON, hewass, ” PAUL NOLTE, FOR MURPHY, Warren Buffet, they've, QUINCY KROSBY, RICK MECKLER, CHERRY, NEW VERNON, Hewass, obviouslywass, DOUG KASS, ” THOMAS RUSSO, GARDNER RUSSO, QUINN, CATHERINE SEIFERT, he's, ” ANTHONY SAGLIMBENE, THOMAS HAYES Organizations: Berkshire Hathaway, COOK, APPLE, WHO, KASE, OF, FEDERATED, Berkshire, ” WIN, THE BRETTON, SAN, SYLVEST, NEW, Buffett, GREAT, Global Finance, Markets, Thomson Locations: California, Munger, Berkshire, American, DALLAS , TEXAS, GLENVIEW, CALIFORNIA, CONNECTICUT, DIAMOND HILL, COLUMBUS , OHIO, PHOENIX, ” “ Berkshire, , PENNSYLVANIA, ELMHURST, IL, CHARLOTTE, NC, CHERRY LANE, NEW JERSEY, LANCASTER , PENNSYLVANIA, Munger . Berkshire, TROY , MICHIGAN, GREAT HILL

☆ What Charlie Munger's death means for Warren Buffett and Berkshire Hathaway
▼ + stars: | 2023-11-28 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Charlie Munger, vice chair of Berkshire Hathaway and second-in-command to Warren Buffett, is dead at 99. With Munger's death, Greg Abel may have a closer working relationship with Buffett. AdvertisementCharlie Munger, also known as Warren Buffett's right-hand man, died Tuesday at 99 — leaving open the role of vice chair of Berkshire Hathaway. Munger served as the 93-year-old Buffett's second-in-command for years, amassing a net worth of nearly $2.3 billion while overseeing Berkshire Hathaway. He was named CEO of MidAmerican — now Berkshire Hathaway Energy — in 2008 and was named vice chairman of non-insurance operations for all of Berkshire Hathaway in 2018, securing himself a role on the conglomerate's board of directors that same year.

Persons: Charlie Munger, Berkshire Hathaway, Warren Buffett, Greg Abel, Buffett, Abel, —, Warren Buffett's, Munger, Greg, He's, Warren, CalEngery, MidAmerican, Pat Egan, Egan, Troy Bader, Bader Organizations: Service, Berkshire, Berkshire Hathaway Energy, doer, PricewaterhouseCoopers, Dairy Locations: Berkshire, Canadian, MidAmerican —, Omaha

☆ Charlie Munger, who was Warren Buffett's right-hand man at Berkshire, dies at 99
▼ + stars: | 2023-11-28 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/3] Berkshire Hathaway Inc Vice Chairman Charles Munger speaks at the Daily Journal annual meeting in Los Angeles, U.S., February 15, 2017. The death of Munger, a Berkshire vice chairman since 1978, marks an end of an era in corporate America and investing. "It's a shock," said Thomas Russo, a partner at Gardner Russo & Quinn in Lancaster, Pennsylvania, and longtime Berkshire shareholder. PHILOSOPHICALLY ALIKESince becoming a Berkshire vice chairman, Munger worked closely with Buffett on allocating Berkshire's capital and not mincing words when he thought his business partner was making a mistake. Money manager Whitney Tilson, who knew Munger personally, said a "generation of investment managers" learned some of their craft from Munger and Buffett.

Persons: Charles Munger, Lucy Nicholson, Warren Buffett's, Charlie Munger, Munger, Berkshire Hathaway, Buffett, Thomas Russo, Gardner Russo, Quinn, Rick Meckler, Charlie, Warren, Paul Lountzis, Whitney Tilson, Tilson, Greg Abel, Ajit Jain, Abel, Buffett's, Howard, CHARLIE, Jain, Lountzis, Russo, Jonathan Stempel, Lewis Krauskopf Svea, Bayliss, Chibuike, Megan Davies, Rosalba O'Brien, Lisa Shumaker Organizations: Berkshire Hathaway, Daily, REUTERS, Cherry Lane Investments, Lountzis, Management, BNSF, Apple, Thomson Locations: Los Angeles , U.S, Berkshire, California, America, Omaha , Nebraska, Lancaster , Pennsylvania, Munger, New Jersey, Wyomissing , Pennsylvania, Omaha, Warren, New York

☆ Warren Buffett celebrates Thanksgiving with a nearly $900 million gift - and details what will happen to his fortune after his death
▼ + stars: | 2023-11-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Warren Buffett has made giving away Berkshire Hathaway stock a Thanksgiving tradition. He just donated $866 million worth of shares to his family's foundations, echoing last year's gift. Buffett discussed wealth and philanthropy, and revealed fresh details about his estate planning. The famed investor donated close to $900 million worth of his company's stock to four of his family's foundations on Tuesday, topping his nearly $800 million gift last November. He gave 1.5 million B shares to The Susan Thompson Buffett Foundation, named after his late wife, and 300,000 shares to each of his three children's organizations: The Sherwood Foundation, The Howard G. Buffett Foundation, and NoVo Foundation.

Persons: Warren Buffett, Buffett, —, Warren Buffett's, Susan Thompson Buffett, Howard G, Melinda Gates, — Howard, Susan, Peter —, Greg Abel Organizations: Berkshire Hathaway, Service, Berkshire Hathaway's, Susan Thompson Buffett Foundation, The Sherwood Foundation, Buffett Foundation, NoVo Foundation, Melinda Gates Foundation, Berkshire Locations: Berkshire

☆ Warren Buffett donates $870 million to charities ahead of Thanksgiving
▼ + stars: | 2023-11-22 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Warren Buffett is donating about $870 million to four family-run foundations ahead of the Thanksgiving holiday, continuing a tradition of giving away his massive wealth of about $120 billion. The donations are in the form of shares, with a release from his Berkshire Hathaway conglomerate detailing that 1.5 million shares are going to the Susan Thompson Buffett Foundation, which is named after his wife. Another 900,000 shares are being divided evenly among three charities run by his children. He named Greg Abel, the head of Berkshire Hathaway’s non-insurance business, as his successor in 2021. Berkshire Hathaway recently reported a surge in third-quarter operating earnings and a record-high cash pile of $157 billion.

Persons: New York CNN — Warren Buffett, Susan Thompson Buffett, Buffett, ”, He’s, “, —, Greg Abel, Berkshire Hathaway Organizations: New, New York CNN, Berkshire Hathaway, Susan Thompson Buffett Foundation, Berkshire Hathaway’s, Berkshire Locations: New York, Berkshire, United States

☆ Warren Buffett makes big donation before Thanksgiving, assures shareholders Berkshire is built to last
▼ + stars: | 2023-11-21 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Nebraska, May 5, 2019. Warren Buffett donated more than $870 million in Berkshire Hathaway stock to four family foundations before Thanksgiving, assuring investors in a letter that the conglomerate is "built to last." The 93-year-old legendary investor donated 1.5 million Class B shares of his conglomerate to the Susan Thompson Buffett Foundation, named for his first wife. He also gave 300,000 Class B shares to each of the three foundations run by his children: the Sherwood Foundation, the Howard G. Buffett Foundation and the NoVo Foundation. The "Oracle of Omaha" pledged to give away the fortune he built at Berkshire, the Omaha-based conglomerate he started running since 1965.

Persons: Warren Buffett, Berkshire Hathaway, Susan Thompson Buffett, Howard G, Buffett, Greg Abel, he's Organizations: Berkshire, Berkshire Hathaway, Susan Thompson Buffett Foundation, Sherwood Foundation, Buffett Foundation, NoVo Foundation, Oracle, BNSF Railway, Apple Locations: Omaha , Nebraska, Berkshire Hathaway, Omaha, Berkshire, United States

☆ Warren Buffett, 93, donates more Berkshire stock, assures 'I feel good'
▼ + stars: | 2023-11-21 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. In a regulatory filing, Berkshire said Buffett donated 1.5 million Class B shares of Berkshire to the Susan Thompson Buffett Foundation. The donations supplement the $759 million of Berkshire stock that Buffett donated to the charities at this time last year, also just before the U.S. Thanksgiving Day holiday. Greg Abel, 61, a Berkshire vice chairman, is slated to succeed Buffett as Berkshire's CEO, while Howard Buffett would become non-executive chairman. The Howard G. Buffett Foundation focuses on alleviating hunger, mitigating conflicts, combating human trafficking and improving public safety.

Persons: Warren Buffett, Scott Morgan, Berkshire Hathaway, Buffett, Susan Thompson Buffett, Howard, Susan, Peter, Howard G, Greg Abel, Howard Buffett, Melinda Gates, Bhanvi, Jonathan Stempel, Arun Koyyur, Lisa Shumaker, David Gregorio, Shri Organizations: Berkshire Hathaway, REUTERS, Berkshire, Susan Thompson Buffett Foundation, Buffett Foundation, Sherwood Foundation, NoVo Foundation, Forbes, Melinda Gates Foundation, Gates Foundation, Apple, Thomson Locations: Omaha , Nebraska, U.S, Berkshire, Nebraska, Bengaluru, New York

☆ Warren Buffett, who turns 93, is at the top of his game as he pushes Berkshire Hathaway to new heights
▼ + stars: | 2023-08-30 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Berkshire shares have roared back to an all-time high on record operating profit, making it the biggest non-tech company by market capitalization. Warren Buffett took control of Berkshire Hathaway in 1965, and nearly six decades later as the "Oracle of Omaha" turned 93 Wednesday, his conglomerate is stronger today than it's ever been. Buffett likens the iPhone maker to a consumer products company and has said he is also attracted to its big buyback programs. "It's groundbreaking in the sense that I'm not aware of any prominent investor, hedge manager investing in Japan," Kass said. They touched on every top-of-mind topic for investors from the banking crisis to recession risks and even crypto.

Persons: David Kass, University of Maryland's Robert H, Buffett, Warren Buffett, Berkshire Hathaway, Greg Abel, Kass, Capital's Palihapitiya, Charlie Munger Organizations: University of Maryland's, Smith School of Business, Buffett, Berkshire, Mitsubishi, Mitsui, Sumitomo Locations: Berkshire, Omaha, Japan

☆ Warren Buffett flaunts his green investment thumb
▼ + stars: | 2023-07-17 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

NEW YORK, July 17 (Reuters Breakingviews) - How does Warren Buffett allocate capital? Buffett noted a few years ago how electric utilities need a “massive makeover” involving costs that would chew up BHE’s earnings for decades. Natural gas will also become increasingly important as a backup fuel. Unlike most utilities, BHE doesn’t have to pay a dividend – and neither does Berkshire, because of the faith investors have in the $750 billion company. This frees up capital, giving Buffett an edge where capex and acquisitions are concerned.

Persons: Warren Buffett, Buffett, Greg Abel, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Berkshire Hathaway, Berkshire Hathaway Energy, Dominion, Chevron, Occidental Petroleum, Twitter, Dominion Energy, Brookfield Infrastructure Partners, Thomson Locations: Berkshire, Brookfield

☆ Berkshire Hathaway takes control of LNG facility as Buffett ups bet on energy infrastructure
▼ + stars: | 2023-07-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Berkshire Hathaway Energy has agreed to purchase a 50% stake in the Cove Point liquefied natural gas facility for $3.3 billion in cash. Warren Buffett's big energy and utility division bought the stake from Dominion Energy and will now own a 75% limited partnership stake in Cove Point LNG located in Lusby, Maryland. The Cove Point LNG Terminal has a storage capacity of 14.6 billion cubic feet and a daily send-out capacity of 1.8 billion cubic feet. Berkshire Hathaway first bought a stake in Dominion's gas pipeline and storage assets for $4 billion in 2020. Abel is now vice chairman for noninsurance operations at Berkshire Hathaway and the successor to the 92-year-old "Oracle of Omaha."

Persons: Warren Buffett's, Bill Stone, Buffett, Berkshire Hathaway, Greg Abel, Tom Farrell, Abel, Stone Organizations: Berkshire Hathaway Energy, Dominion Energy, Brookfield Infrastructure Partners, Glenview Trust, Sumitomo Corp, CNBC, Berkshire Hathaway, Oracle, Occidental Petroleum, Chevron Locations: Point, Lusby , Maryland, Berkshire, U.S, Glenview, Omaha, Iowa

☆ 100 million Squishmallows sold in a year — How the toy sensation joined Warren Buffett's conglomerate
▼ + stars: | 2023-07-02 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Shrewd business legend Warren Buffett has a whimsical side, buying companies whose products he personally enjoys like Dairy Queen and See's Candies. Berkshire inherited Squishmallows parent Jazwares through its acquisition of Alleghany in the fourth quarter of 2022. Jazwares founder and president, Judd and Laura Zebersky, now report to and are in regular communication with Greg Abel, Berkshire's vice chairman for non-insurance operations and Buffett's successor. We're thrilled to be part of it," Laura Zebersky said in an interview. Often Buffett admires the business' management and expects it to continue to grow and remain profitable.

Persons: Warren Buffett, Squishmallows, Charlie Munger, Judd, Laura Zebersky, Greg Abel, Berkshire's, Buffett, Abel's, he's, Abel Organizations: Berkshire Hathaway, Berkshire Locations: Omaha , Nebraska, Omaha, Charlie Munger . Berkshire, Alleghany, South Florida

☆ How TikTok sensation Squishmallows found Warren Buffett
▼ + stars: | 2023-05-13 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

May 13 (Reuters) - Squishmallows joined Warren Buffett's business empire two years after Lady Gaga, Kim Kardashian and others helped make the plush stuffed toys a viral sensation on TikTok. They married in 1993 and embarked on law careers, but Judd Zebersky soon realized that wasn't his destiny. Laura Zebersky, a litigator, sold her practice in 2005 and joined him, becoming Jazwares' president. "This was a brand that needed a lot of love," Judd Zebersky said. "Greg is exactly what we have all learned about the Berkshire model," Laura Zebersky said.

☆ UBS shares its 5 top takeaways for investors from Berkshire Hathaway's 'best annual meeting in years' — including how Warren Buffett's successor will take over
▼ + stars: | 2023-05-09 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Berkshire Hathaway had a successful annual meeting following its Q1 earnings report. Warren Buffett's Berkshire Hathaway had its "best annual meeting in years" over the weekend, according to UBS analyst Brian Meredith — and it wasn't just because of its strong earnings report. 5 top takeaways from Berkshire Hathaway's annual meetingStrong earnings results were just one impressive component from Berkshire Hathaway's annual meeting. "We viewed Berkshire's 2023 annual meeting as the best in several years with quality questions and insightful answers," Meredith wrote. After BNSF undershot on volumes and suffered from higher compensation costs, Berkshire investors may start to wonder if the company would reconsider its stance against PSR.

☆ Warren Buffett's rival for attention at Berkshire weekend: Squishmallows
▼ + stars: | 2023-05-08 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

[1/2] Investors and guests walk by a Squishmallow display during the Berkshire Hathaway Inc in Omaha, Nebraska, U.S. May 5, 2023. On Friday, the start of Berkshire Hathaway Inc's (BRKa.N) three-day shareholder weekend, thousands thronged a convention hall in downtown Omaha, Nebraska, for five hours to buy discounted products from many Berkshire-owned brands. For many, the $9.99 Squishmallows featuring Buffett and Munger, made by Berkshire's recently acquired toy company Jazwares, were the must-have memento. About 10,000 Buffett and Munger Squishmallows were sold, and by Monday they were fetching as much as $255 at auction on eBay. Reporting by Jonathan Stempel in Omaha, Nebraska Editing by Megan Davies and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

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