Berkshire Hathaway has never paid dividends to their investors although being a highly profitable company and sitting on stockpile of cash. Instead, the company chooses to reinvest its earnings into new investments or acquisitions.
He was born in Omaha, Nebraska on August 30, 1930. He's now 91 years old and still chairman and CEO of his holding company.
Greg Abel is the CEO of Berkshire Hathaway Energy and vice-chairman of non-insurance operations of Berkshire Hathaway. He is the descendant of Warren Buffett as CEO of Berkshire Hathaway. Greg Abel has led the rapid development of the energy holding through smart strategic choices, effective execution, and a relentless focus on operational excellence. He has grown the company from a small holding of one companyfber to a $25 billion powerhouse.Greg is a highly accomplished executive who has spent his career building great companies and leading talented teams to develop innovative products and services. He is a proven leader, a strategic thinker, and a passionate executive with a history of delivering results in both start-ups and large global companies.
He always had an interest in business and investing. When he was seven years old, he borrowed a book from the public library “One Thousand Ways to Make $1000”. This inspired him to think about starting his own businesses. His early childhood years were full of entrepreneurial ventures. He had a lot of small income sources like delivering newspapers. He even took a $35 deduction for the use of his bicycle and watch on his route in his first tax return in 1944.Despite liking his small ventures his father convinced him to study. He studied under Benjamin Graham. “The Intelligent Investor”, the book that Graham wrote in 1949, was a big influence on him and his career. Warren worked under Graham for 2 years as an analyst.His career took off in 1956, when he established Buffett Partnership, Ltd. In 1962, he became a millionaire because of his partnerships. He soon acquired a textile manufacturing company called Berkshire Hathaway. The business was changed to create a diversified holding company. In 1978 Charlie Munger joined as vice-chairman. After many successful investments Berkshire went public in 1990 and this made Buffett a billionaire and now one of the richest person in the world. He pledged to give away 99 percent of his fortune to philanthropic causes.
Buffett studied at the University of Pennsylvania before transferring to the University of Nebraska. There, he obtained a bachelor's degree in business administration. He then got rejected by Harvard Business School and instead enrolled at Columbia Business School. He received a Master of Science in Economics in 1951. After college, he went to the New York Institute of Finance.