08-07-2023, 08:51 AM
The Families That Warren Buffett Made Super Rich
Here's how those three most fortunate Buffett-beholden families attained shares in Berkshire Hathaway at the right time:
[b]Alfond Family, No. 64[/b]
Harold Alfond traded his Dexter Shoe Company to Warren Buffett in 1993 for what was then about $300 million worth of stock. Alfond never went to college, but he died a billionaire in 2007. His family is now worth about $4.2 billion, due largely to the soaring value of Berkshire Hathaway stock.
[i]How many shares:[/i] After the Dexter Shoe acquisition, the family became the second-largest Berkshire Hathaway shareholder at the time with about 25,000 shares.
[i]Return on Investment:[/i] 1,275%
[b]Booth Family, No. 81[/b]
Franklin Otis Booth Jr. met Warren Buffett in 1963 and poured $1 million of profits from a small Los Angeles real estate deal into the now-revered investment firm of Berkshire Hathaway. His shares topped $2 billion in value when he died in 2008. His roughly 30 descendants are now worth about $2.9 billion combined.
[i]How many shares:[/i] When Franklin died, his six children divvied up about 15,000 shares. About 1,500 shares were donated to the charitable Otis Booth Foundation.
[i]Return on Investment: [/i]277,700%
[b]Ueltschi Family, No. 81[/b]
Warren Buffett snatched up aviation training company FlightSafety International in 1996 in exchange for stock worth about $1.5 billion at the time. Founder Albert Ueltschi, a former Pan Am pilot, died in 2012, but the family held onto the Berkshire Hathaway shares, now worth an estimated $2.9 billion.
[i]How many shares:[/i] Family has kept an estimated 16,000 shares.
Return on Investment: 93%
Here's how those three most fortunate Buffett-beholden families attained shares in Berkshire Hathaway at the right time:
[b]Alfond Family, No. 64[/b]
Harold Alfond traded his Dexter Shoe Company to Warren Buffett in 1993 for what was then about $300 million worth of stock. Alfond never went to college, but he died a billionaire in 2007. His family is now worth about $4.2 billion, due largely to the soaring value of Berkshire Hathaway stock.
[i]How many shares:[/i] After the Dexter Shoe acquisition, the family became the second-largest Berkshire Hathaway shareholder at the time with about 25,000 shares.
[i]Return on Investment:[/i] 1,275%
[b]Booth Family, No. 81[/b]
Franklin Otis Booth Jr. met Warren Buffett in 1963 and poured $1 million of profits from a small Los Angeles real estate deal into the now-revered investment firm of Berkshire Hathaway. His shares topped $2 billion in value when he died in 2008. His roughly 30 descendants are now worth about $2.9 billion combined.
[i]How many shares:[/i] When Franklin died, his six children divvied up about 15,000 shares. About 1,500 shares were donated to the charitable Otis Booth Foundation.
[i]Return on Investment: [/i]277,700%
[b]Ueltschi Family, No. 81[/b]
Warren Buffett snatched up aviation training company FlightSafety International in 1996 in exchange for stock worth about $1.5 billion at the time. Founder Albert Ueltschi, a former Pan Am pilot, died in 2012, but the family held onto the Berkshire Hathaway shares, now worth an estimated $2.9 billion.
[i]How many shares:[/i] Family has kept an estimated 16,000 shares.
Return on Investment: 93%
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"A fool is someone who knows the price of everything and the value of nothing"
Oscar Wilde
"A fool is someone who knows the price of everything and the value of nothing"
Oscar Wilde