Warren Buffett isn’t the only chief executive officer that Berkshire Hathaway Inc. shareholders have to worry about replacing. Managing CEO turnover has become more demanding with the company’s expansion.
Warren Buffett, who built Berkshire Hathaway Inc. into a $250 billion company with funds from insurance units, said low interest rates create “dim prospects” for the industry that fueled his firm’s growth.
Warren Buffett bought oil stocks near the peak of an energy boom, declined to spend $35 million on a growing television station and swapped a Berkshire Hathaway Inc. stake for a shoe company he later said was worthless.
Warren Buffett’s Berkshire Hathaway Inc. invested $23.9 billion in the third quarter, the most in at least 15 years, as he accelerated stock purchases and broadened the portfolio beyond consumer and financial-company holdings.
Berkshire Hathaway Inc. used acquisitions to expand into putting greens and anti-aging tonic derived from mushrooms as Warren Buffett empowered subordinates to build their units while he pursues bigger deals.