"Many regard Buffett as the world's greatest investor after he grew Berkshire from a struggling New England textile mill that he starting buying up for $7.60 a share in 1962, to the massive conglomerate it is today with shares that go for more than $750,000 a pop. Buffett's personal fortune of Berkshire stock is worth roughly $150 billion even after giving more than $60 billion away over the past 20 years."
"Berkshire for decades has routinely outpaced the S&P 500 as Buffett bought up insurance companies like Geico and National Indemnity, manufacturers like Iscar Metalworking, retail brands like Dairy Queen, major utilities and even one of the nation's biggest railroads, BNSF. Along the way, Buffett bought and sold hundreds of billions of dollars of stocks and profited handsomely from his famously long-term bets on companies like American Express, Coca-Cola and Apple."
"Investors will be watching closely to see what changes Abel might make in Berkshire's trajectory, but don't expect any seismic shifts. Buffett isn't going anywhere and Abel has already been managing all of Berkshire's noninsurance businesses since 2018. Buffett will remain chairman and plans to continue coming into the office each day to help spot new investments and offer Abel any advice he asks for."
Warren Buffett transformed Berkshire from a struggling New England textile mill bought at $7.60 a share in 1962 into a massive conglomerate with shares trading above $750,000 and a personal Berkshire stake worth about $150 billion after more than $60 billion in gifts. Berkshire routinely outpaced the S&P 500 through acquisitions of insurers, manufacturers, retailers, utilities and BNSF railroad and long-term equity stakes in American Express, Coca-Cola and Apple. Growth has slowed as Berkshire became enormous and acquisition opportunities became harder to find; the $9.7 billion OxyChem purchase is unlikely to move the needle. Greg Abel will assume leadership while Buffett remains chairman and active; Berkshire operates with strong decentralization.
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