Frank Rooney was a wealthy American businessman.
Rooney amassed his fortune by managing two highly successful companies. As a young man, he graduated from Worcester Academy and the University of Pennsylvania, and began a twenty-year career as the CEO of Melville Corporation. Under Rooney's management, the company's revenues grew from $180 million to $7 billion, primarily through acquisition, the CVS/pharmacy chain being the most notable. After this success, Rooney retired to his homes in New York State, Nantucket, and Florida. In 1990, he was pressed into service by Warren Buffett, whose company, Berkshire Hathaway, was about to buy the shoe manufacturer H.H. Brown, [1] which was formerly managed by his father-in-law. Rooney felt at ease running the $400 million H.H. Brown, where he only works full-time during the spring and fall. He notes that his informal agreement with Buffett is that he only work one day a week for the next twenty years.
Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors in the world and has a net worth of over $125 billion as of April 2022, making him the world's fifth-wealthiest person.
Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. The company wholly owns GEICO, Duracell, Dairy Queen, BNSF, Lubrizol, Fruit of the Loom, Helzberg Diamonds, Long & Foster, FlightSafety International, Shaw Industries, Pampered Chef, Forest River, and NetJets, and also owns 38.6% of Pilot Flying J; and significant minority holdings in public companies Kraft Heinz Company (26.7%), American Express (18.8%), The Coca-Cola Company (9.32%), Bank of America (11.9%), and Apple (6.3%).
Fruit of the Loom is an American company that manufactures clothing, particularly casual wear and underwear. The company's world headquarters is in Bowling Green, Kentucky. Since 2002 it has been a subsidiary of Berkshire Hathaway.
Pampered Chef is a multinational multi-level marketing company that offers a line of kitchen tools, food products, and cookbooks for preparing food in the home. They also offer some products to help transport some of their products and gardening tools.
Borsheims is a luxury jewelry store that sells fine jewelry, timepieces, engagement rings and home decór in Omaha, Nebraska. In 1870, Norwegian immigrant and silversmith Louis Borsheims founded his independent jewelry business that would later become known as Borsheims. The luxury jewelry retailer began as Brown and Borsheim. In 1907, Louis A. Borsheim sold his interests in Brown and Borsheim, thus began the Omaha staple, Borsheims. The business was sold to Louis Friedman and his son Ike in 1955, who both retained the Borsheims name.
Blue Chip Stamps started as a trading stamps company called "Blue Chip Stamp Co." They were a competitor of S&H Green Stamps. Blue Chip stamps were a loyalty program for customers, similar to discount cards issued by pharmacies and grocery stores in the digital era. A customer making a purchase at a participating store would be given stamps in proportion to the dollar amount of the purchase. The stamps were dispensed by machines adjacent to the cash register. The customer would paste the stamps into books. The books could then be taken to a redemption center and redeemed for merchandise, such as lawn furniture, dining tables, tableware, and many other items. The redemption centers did not maintain a full inventory of items but would order from a catalog on behalf of the customer.
Ajit Jain is an Indian American executive who is the Vice Chairman of Insurance Operations for Berkshire Hathaway as of January 10, 2018. He was raised in India's coastal state of Odisha. Ajit Jain is an older cousin of Anshu Jain, who was the former Co-CEO of Deutsche Bank.
ISCAR Ltd. is an Israeli multinational metal cutting tools company affiliated with one of the world's largest metalworking conglomerates, the IMC Group. ISCAR and the IMC Group were acquired by Warren Buffett's Berkshire Hathaway in 2006, becoming one of its largest non-insurance companies.
RC Willey Home Furnishings is an American home furnishings company with stores in Utah, Idaho, Nevada and California. Founded in 1932 by Rufus Call Willey in Syracuse, Utah, RC, as he was known to friends, began selling Hotpoint Brand appliances door-to-door out of the back of his red pickup truck. Today RC Willey has 10 locations across the Western United States and specializes in furniture, electronics, home appliances, mattresses, and flooring. In 1995, the holding company Berkshire Hathaway bought RC Willey in a deal with Warren Buffett.
Rose Blumkin was a renowned businesswoman who founded the Nebraska Furniture Mart in 1937. Warren Buffett said of her, "One question I always ask myself in appraising a business is how I would like, assuming I had ample capital and skilled personnel, to compete with it. I’d rather wrestle grizzlies than compete with Mrs. B and her progeny. They buy brilliantly, they operate at expense ratios competitors don’t even dream about, and they then pass on to their customers much of the savings.
Berkshire Fine Spinning Associates was an American textile company, founded in 1889 as Berkshire Cotton Manufacturing Company in Adams, Massachusetts.
David L. Sokol is an American business executive. He served as chairman, president and CEO of NetJets as well as chairman of MidAmerican Energy Holdings Company, of which Berkshire Hathaway holds a 100% and 89.8% stake respectively. He resigned March 28, 2011.
Berkshire Hathaway GUARD Insurance Companies currently insure over 250,000 businesses in the US.
The Herald & Review is a daily newspaper based in Decatur, Illinois. It is owned by Lee Enterprises.
Todd Anthony Combs is a former hedge fund manager and current investment manager at Berkshire Hathaway, who has been the chief executive officer (CEO) of GEICO since January 2020. Alongside Ted Weschler, he is frequently cited as a potential successor of Warren Buffett as the chief investment officer of Berkshire. In 2016 he was appointed board member of JPMorgan Chase.
Seabury Stanton was an industrialist from New Bedford, Massachusetts who ran Berkshire Hathaway prior to its takeover by Warren Buffett in 1964.
First Manhattan Co. (FMC) was founded in 1964 by a group of financial industry executives led by Sandy Gottesman. FMC remains an owner-operated investment advisory firm. Robert Gottesman, David Gottesman's son, is currently the firm's CEO.
Tungaloy Corporation is a company that specializes in production and sales of metal cutting tools as well as industrial products. Headquartered in Iwaki, Fukushima, Japan, it was the first company in the country to succeed in developing superhard alloy. Tungaloy is a member of the International Metalworking Companies (IMC), which is owned by Berkshire Hathaway. In November 2011, the company celebrated the opening of its new production facility in Japan; as the Chairman, President, and CEO of Berkshire Hathaway, Warren Buffett took part in the ceremony.
Tracy Britt Cool is an American business executive and entrepreneur who was widely noted as a Warren Buffett protégé. She chaired four Berkshire Hathaway subsidiaries before co-founding Kanbrick, a private equity firm, in 2020.
Gregory Edward Abel is a Canadian businessman, chairman and CEO of Berkshire Hathaway Energy, and vice-chairman of non-insurance operations of Berkshire Hathaway since January 2018.