Businesspersons
Berkshire Hathaway Net Worth
Berkshire Hathaway's Net Worth as of 2024
$143.688 Billion
Berkshire Hathaway is an American holding company that started in the textile industry and later became one of the most successful investment companies in the world.
So how much is Berkshire Hathaway’s net worth? As of mid 2016, it is reported to be $143.688 billion, acquired from years as a textile and later on an investment company.
Berkshire Hathaway Net Worth $143.688 billion
Berkshire Hathaway is a combination of two textile manufacturing companies. The first one is Valley Falls Company that started in Valley Falls, Rhode Island. The company started in 1839 and later on merged with another textile company Berkshire Manufacturing Company. The two later on became known as Berkshire Fine Spinning Associates.
On the other hand, in 1888 Hathaway Manufacturing Company started as a China trader. The company focused on mill cotton and enjoyed years of success before facing some low point during the First World War.
In the 1950s the two companies merged with each other and became known as the Berkshire Hathaway. It became one of the largest textile companies in the country with over 15 plants and 12,000 employees. The combined assets of the company raised its net worth.
After the merger, unfortunately due to increasing competition both local and abroad, slowly Berkshire Hathaway is closing down plants just to survive.
In 1962, business man Warren Buffett saw that the pattern that the company does in its stock pricing whenever a plant closes. He bought a few shares and slowly increasing it overtime. A couple of years later, Buffett decided that the textile industry is continually declining and he wanted to sell back his stocks to the company. When he was given a lower offer by some of the officers of Berkshire Hathaway, Buffett decided to buy more shares out of spite and soon he got enough shares to control the company.
As Buffett later on got control over the company, he maintained the textile business but also slowly began to invest in other companies. In 1967, Berkshire Hathaway decided to purchase two companies in Nebraska, namely the National Indemnity and National Fire and Marine Insurance as steps towards becoming an investment company. This move helped maintain the company’s net worth.
In 1985, after some time keeping the company going, later on Buffett decided to discontinue the textile business. As much as he wanted to keep it, he simply cannot turn around the business.
Buffett decided to take Berkshire Hathaway’s direction towards investment. In 1970s the company acquired some stakes in the Government Employees Insurance Company (GEICO) and it became one of the company’s most important moves.
From long-term investments in publicly traded companies, soon Berkshire Hathaway is buying companies as a whole. They now own various lines of businesses from retail, to newspaper publishing, and even home furnishing.
Today, Berkshire Hathaway owns companies like GEICO, Lubrizol, Dairy Queen, and NetJets. The company also holds part ownerships in companies like Kraft Heinz Company, Mars, Inc. American Express, Wells Fargo and The Coca-Cola Company to name a few. These ownerships and investments is what make up Berkshire Hathaway’s net worth. It is now the fourth largest company in the world according to Forbes Global 2000.
Businesspersons
Charles Saatchi Net Worth
Charles Saatchi is one of the richest and best known businessmen in the world and one of many millionaires. Saatchi’s overall net worth has been stated to be $100 million for 2014. Charles Saatchi was born in Baghdad, Iraq, but later had to move together with his family to London, UK to avoid the persecution of Jews in his home country. He was the second son in the family of four kids. As a teenager Charles was really interested in American pop culture and studied at the London College of Communication. After graduation he began his professional career as a copywriter working for “Benton & Bowles” and later started to work in tandem with an art director, Ross Cramer, and together they formed their own company called “CramerSaatchi”.
Charles Saatchi Net Worth $100 Million
They were successful and took-on employees John Hegarty and Heremy Sinclair, but true success came to Charles later. In 1970 Charles Saatchi started his business together with brother Maurice: they established “Saatchi & Saatchi” agency which had become the largest advertising agency in the world by the mid-80’s with just a huge number of high-profile clients like UK Prime Minister Margaret Thatcher and British Airways. However, Charles and Maurice left the agency and together founded another one called “M&C Saatchi”. They took many of their important clients with them, and one of these was British Airways. Nowadays, thanks to his prosperous business, Charles Saatchi has a net worth of $100 million dollars.
To the rest of the world Saatchi is also known as one of the most famous modern art collectors. He purchased his first art work in 1969 – by Sol LeWitt, a minimalist from New York. His passion for paintings only grew, and in 2009 he even published the book “My Name Is Charles Saatchi And I Am An Artoholic” wherein the author answered many questions and even gave some advice about collectibles. But the book didn’t become as popular as Saatchi expected, so the author asked his personal assistant to buy a huge number of books to help his work hit some positions in bestseller charts. Later in 2009 Saatchi appeared on the BBC program “School of Saatchi” and gave many young artists a perfect opportunity to show their talent and showcase artworks: some artists even painted portraits of Saatchi himself. In July 2010 Charles Saatchi donated his Saatchi Gallery to the British public together with 200 works of art.
Saatchi’s personal life has never been very public, but he married his first wife in 1973. He had met Doris Lockhart Dibley in 1965 while working for “Benton & Bowes”. The couple lived together for the six years before marrying, but divorced in 1990. Saatchi’s second wife was Kay Hartenstein to whom he was married from 1990-2001, and they even had a daughter together. Then Saatchi married for the third time in 2003, to English journalist, food writer, gourmet and television personality Nigella Lawson, but after public disagreements, were divorced 2013.
Businesspersons
Mikey Teutul Net Worth
Michael Joseph was born 26 November 1978, in Montgomery, New York State USA, and widely known as Mikey Teutul, is a reality television personality, the youngest son of Orange County Choppers founder Paul Teutul, Sr. Mikey began his working life at 14, in the family business.
So just how rich is Mikey Teutul, as of late 2017? Authoritative sources estimate that Mikey has a net worth of over $3 million dollars, largely earned by working at his father’s and older brother Paul Jr,’s company Orange County Choppers (OCC), and Orange County Iron Works, and through his TV appearances.
Mikey Teutul Net Worth $3 Million
Little is known of Mikey’s early life or education – it seems to have always revolved around the family business. Helping out his family in his teens, theoretically he worked as Assistant General Manager. but his main duties were to answer ‘phones, and clear-up and take out the trash. He was on rare occasions given the chance to build bikes, until he was competent to build his own. He also attended events for promoting OCC.
In 2002, the family was invited to take part in a reality show, Discovery Channel’s “American Chopper”, and subsequently “American Chopper: Senior vs. Junior”, in the course of which the youngest son was thrown out of the business – the middle son is Daniel, and younger sister Cristin. The reason for Mikey’s exclusion was that Mikey tried to be a mediator between his father and his brother, but his father seemed to be offended that his younger son did not take his side, and so threw him out of the business. During the filming of the show, Mikey was somethoing of a comedy relief to his father’s workers, and that comedy streak helped gain him popularity in TV shows. Mikey then joined his brother’s post-OCC venture, -Paul Jr Designs – along with most of their father’s employees; obviously the work atmosphere with Paul Teutul, Sr. was not a particularly happy one. Mikey’s eldest brother Paul Jr. was the former chief fabricator of OCC.
So actually the main source of Mikey Teutul’s wealth is not his father’s business, but the shows he eventually took part in. These have included ‘The Late Show with David Letterman”, “Late Night with Conan O’Brien”, and also “The Tonight Show” with Jay Leno. The shows became very popular and Mikey’s appearances earned him a significant amount of money. To say the least, the family drama did not go without consequences – according to rumours, Mikey Teutul was suffering from an addiction problem, and consequently admitted himself to rehab, and managed to overcome the bad habits which were apparently hindering his progress in life, obviously including business.
In his life away from the businesses already referred to and the limelight of TV, Michael loves to paint, and is apparently respected for his productions, as he opened “The Wolfgang Gallery” gallery in Montgomery, New York, where he has sold or auctioned his paintings, adding somewhat to is net worth, although rumours suggest that the gallery may now be closed. Most recently, Mikey is now trying to enter the market under the moniker LLC FarQueue Products with his line of gourmet pasta sauces. Good luck, Mikey!
In his less-than-private personal life, Mikey is apparently still single – there aren’t even any rumours of romantic liaisons.
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