Factbox-Warren Buffett, Berkshire Hathaway at a glance -Breaking
© Reuters. The home of Warren Buffett (billionaire investor), is shown in Omaha Nebraska. It was taken April 27, 2022. Picture taken April 27, 2022. REUTERS/Jonathan Strempel
Carolina Mandl, Jonathan Stempel
OMAHA, Neb. (Reuters) – Warren Buffett will be welcoming tens to thousands of people to Omaha (Neb.) for the Berkshire Hathaway Annual Shareholder Weekend (NYSE:) Inc on April 30, 2019.
Charlie Munger, vice chairman of Buffett’s board, will also be on the stage with Buffett for five hours to answer shareholder questions. Greg Abel, and Ajit Jin, vice chairs, will also be present to answer shareholder questions. You can watch the webcast at cnbc.com.
Click on to see previews of the event.
Below are some facts and figures about Buffett and Berkshire.
FACTS ON WARREN EDWARD BOUFFETT
Born: Aug. 30, 1930
Education: University of Nebraska-Lincoln and Columbia Business School
Families: Buffett is married to Astrid Meks, since August 30, 2006. In 2004, his first wife Susan Thompson Buffett passed away. The couple had three children, Susan, Howard, & Peter. Howard Buffett is a Berkshire director.
World’s sixth-highest net worth, $119.6 Billion on April 27, 2022. Elon Musk, Chief Executive Officer of Tesla Inc (NASDAQ:) Inc, ranked first. (Source: Forbes)
Berkshire stake 16.2% at March 2, 2022
Berkshire’s voting power is 32.1%, as at March 2, 2022
Buffett’s takeover: Buffett, a Berkshire shareholder, was in 1965 a New England textile business that was struggling. Although he planned to return his shares for $11.50, the term sheet stated $11.375. Buffett became angry and purchased all possible shares to regain control of Berkshire. He did so on May 10, 1965. In 1985, the textile company was closed.
Famous Buffett quote: Lose money for your firm and I’ll be understanding. You can lose any reputation the firm has and I will not be complacent. September 4, 1991, testimony before Congress about Salomon Inc. Buffett was appointed interim chairman of Salomon Inc to bring order back after the Treasury auction scandal.
Philanthropy: Buffett has since 2006 donated more than $41.6 billion to the Bill & Melinda Gates Foundation and four family charities. When Buffett dies, the Berkshire Stock will be given to Philanthropy.
Home: Buffett, who has been living in this house since 1958 on a busy Omaha street, does most of his work here. It has 5 bedrooms, 2 1/2 bathrooms and was built on 0.72 acres. In 2022 it was worth $998,600. (Source: Douglas County, Nebraska)
Eats steaks and candies from See’s (Berkshire). One-fourth of his calories come from Coca-Cola, a Berkshire company that has been around for a while.
Buffett shares his belief that investors should be able to stay the course: “People who feel comfortable investing will achieve greater results than people who are driven by changing headlines, chatter, and promises.” (Shareholder letter, Feb. 26, 2022)
FACTS ABOUT BERKSHIRE ATHAWAY
Leadership: Warren Buffett as chairman and chief executive officer, Charlie Munger, Greg Abel, and Ajit jain, vice-chairmen, Todd Combs (investment managers) and Ted Weschler (chairman).
2021 Net Income: $89.8 Billion, with $62.34 Billion of Investment Gains
Operating income for 2021: $27.46 Billion, an increase of 25% over 2020
2021 Revenue: $276.09Billion. This is an increase of 12 percent from 2020
Share repurchases for 2021: $27 Billion
Cash equivalents, Treasury bills and cash: $146.7 billion by Dec. 31, 2021
As of April 27, 2022, stock price was $496 800 per Class A share. The Class B share is worth approximately 1/1,500th of the amount.
According to reported shares outstanding, the market value is approximately $731 billion.
Average annual gains from 1965-2021 Stock price: 20.1%. Dividends include 10.5%.
Overall gain from 1965-2021: stock price: 3,641,613%; S&P 500 including dividends: 30,209% (pre-tax)
As of December 31, 2021, Float is $147 billion.
Select businesses: Benjamin Moore Berkshire Hathaway Automotive Berkshire Hathaway Energy Berkshire Hathaway Specialty Insurance Berkshire Hathaway Specialty Insurance Berkshire Hathaway Specialty Insurance Berkshire Hathaway Specialty insurance Berkshire Hathaway Specialty Insurance Berkshire Hathaway Specialty Insurance Berkshire Hathaway Specialty Insurers, Berkshire Hathaway Energy Berkshire Hathaway Energy Berkshire Hathaway Specialts Candies, See’s Candies, Precision Castparts and Castparts, See’s Candies, See’s Candies, See’s Candies, See’s Candies, See’s Candies, See’s Canies, See’s Candies, See’s Candies, See’s Candies, See’s Candies, Precision Castparts, See’s Candies, See’s Candies, See’s Candies, See’s Candies, See’s Candies, See’s Candies, See’s Candies, See’s Candies, See’s Candies
Some acquisitions: See’s Candies – $25M (1972); Geico – $2.3B (1996); Dairy Queen – $590M (1998). General Re – $15.9B (1998). NetJets – $725M (1998). Clayton Homes – $1.7B (2003). PacifiCorp – $5.1B (2006). PacifiCorp (2005). Iscar (2007). Marmon (2009). Burlington Northern Santa Fe – $26.5B Lubrizol NV Energy NV Energy 5.6B (2013). Heinz, $12.1B (majority stake), 2013; Van Tuyl, now Berkshire Hathaway Automotive, $4.1B (2015); Precision Castparts (32.1% stake, 2016; acquiring an additional 41.4% in 2023); NetJets (772.5 million (1998); Clayton Homes, $1.7B (2003); PacifiCorp, $5.1B (2006); Iscar, $4 billion (2008); Burlington Northern Santa Fe, $26.5B (2010); Lubrizol, $9 billion (2011); NV Energy, $5.6 billion (2013); H. (Sources: Barclays (LON:) Capital, Berkshire)
Stock investments of major importance: American Express Co (NYSE): Apple Inc (NASDAQ :), Bank of America Corp(NYSE:) Coca-Cola Co , Kraft Heinz (NASDAQ:) Co
Buffett’s “Big Four”, accounting for a large part of Berkshire’s value, are (1) insurance operations; (2) Apple stake; (3) BNSF railroad and (4) Berkshire Hathaway Energy stake at 91.1%. (Shareholder letter, Feb. 26, 2022)
Buffett comments on Berkshire’s limited stock-buyback opportunities: Charlie and I prefer the owners that we have. Their admirable buy-and keep attitudes restrict the amount to which long-term shareholders are able to profit from opportunistic purchases. (Shareholder letter, Feb. 26, 2022)
Main office employees: 26 including Buffett
Succession: Buffett (91) and Munger (98) have not yet publicly announced any retirement plans. Berkshire has appointed Abel CEO when Buffett dies. Since 2018, Abel (59) and Jain (70), have had daily oversight over Berkshire’s insurance and non-insurance units. Major capital investment decisions and allocations are made by Buffett and Munger.
Another possible successors are Combs or Weschler, who may replace Buffett’s chief investment officer. Combs was also the chief executive of Geico since 2020. Howard Buffett’s oldest son is expected to be the non-executive chairman of Berkshire.
Annual meeting attendance: 12, (1965), approximately 24 (1979), 1000 (1986), 4,100 (95), 13,000 (1999), 13,000 (1995), 21,000 (2006), 42,000 (1995), 42,000 (192015), 50th Anniversary of Buffett running Berkshire. (Sources: Omaha World-Herald, Berkshire, Reuters)
Buffett: Life and the Future. “Charlie and me have been ungodly fortunate in many aspects. However, the best was being there at that time and place. These problems are also present in 200 other countries, with more than 7-and-a–half billion citizens and many tensions. ()How can we make sure that humanity, in 50, 100, and 200 years, has the best possible life, while still not destroying it? Interview with CNBC May 20, 21