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| Warren Buffet with Katharine Graham |
Warren Buffet, the billionaire investor and chairman of Berkshire Hathaway, has spent 25 years on Washington Post board while holding 1.7 million shares in the company. Buffet started accumulating post shares in 1973. As of 2004, he owned 1.7 million shares at a cost basis of $11 million.
As per the Berkshire Hathaway's latest 13-F, he still owns the same number of shares which at current market price of $568 is valued a little less then a billion dollar, $0.965 billion precisely. The Buffet's investment in Washington post has appreciated by whopping 8700% in less than 40 years, a CAGR of around 13%.
Jeff Bezos, CEO and founder of Amazon, having worth over $25 billion, has recently bought the Washington Post for $250 million. Bezos, 49, who has invested in the paper on his own and not through Amazon, will take the company private, meaning he will not have to report quarterly earnings to shareholders or be subjected to investors’ demands for ever-rising profits, as the publicly traded Washington Post Co. is obligated to do now. The paper will also get a new name once the transaction is completed.
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