Subject: Berkshire Hathaway’s Diamond Anniversary
RW,
" Warren Buffett took control of Berkshire Hathaway sixty years ago on May 10, 1965.

For all practical purposes, Mr. Buffett should be considered the founder of the company even though the business he inherited dates back to the nineteenth century. In just a few years, Berkshire Hathaway began its transformation into a diversified conglomerate, a story that is told exceptionally well in Capital Allocation: The Financials of a New England Textile Mill by Jacob McDonough. It is certain that Berkshire would be long dead today if it had remained a textile manufacturer. Instead, shareholders attending the 2025 annual meeting will celebrate an incredible milestone.

Over the past sixteen years, I have written over three hundred articles about Berkshire Hathaway. As I look back at some of the early articles, it is obvious that I never expected Warren Buffett to be running Berkshire at the age of ninety-four. Succession planning has been a concern for decades. Consider that nearly half of Mr. Buffett’s sixty years at Berkshire came after he reached the typical retirement age of sixty-five!"

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