An image of Warren Buffett at the Berkshire Hathaway Shopping Day, May 5, 2023.
Yun Li | CNBC
Renowned business tycoon Warren Buffett, known for his astute investment strategies, has showcased his whimsical side by acquiring companies that produce products he personally enjoys, such as Dairy Queen and See’s Candies. One of his recent acquisitions includes the plush toy phenomenon Squishmallows.
Squishmallows made its debut at this year’s Berkshire Hathaway annual meeting in Omaha, Nebraska. Shareholders were quick to snatch up 10,000 of these cuddly dolls in just a few hours. Some of the dolls even bear the likeness of the “Oracle of Omaha” himself, as well as his long-time business partner Charlie Munger. Squishmallows became a part of Berkshire Hathaway through its acquisition of Alleghany in the fourth quarter of 2022.
The founders and presidents of Jazwares, the parent company of Squishmallows, Judd and Laura Zebersky, now report to Greg Abel, Berkshire’s vice chairman for non-insurance operations and Buffett’s successor. The Zeberskys, who started their careers as lawyers and later ventured into the toy industry, express their excitement about being under the Berkshire umbrella and appreciate the autonomy they have in running their own business.
“Being a part of Berkshire Hathaway is an amazing opportunity. We’re thrilled to be a part of it,” said Laura Zebersky in an interview. “The experience has exceeded our expectations, and being in the presence of the greatest leaders in the world is phenomenal. We are also interested in exploring the synergies that may arise.”
The 92-year-old Warren Buffett has spoken highly of Greg Abel, stating that he has taken on most of the responsibilities within Berkshire Hathaway. Abel has been overseeing a significant portion of Berkshire’s diverse empire, which includes energy, railroad, and retail businesses.
Although Buffett’s indirect entry into Jazwares was through Alleghany, he has shown a willingness to invest in smaller businesses that may not have a significant impact on Berkshire’s massive earnings and revenue. Buffett often admires the management of these businesses and believes they will continue to grow and remain profitable.
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
