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Founder-story archive · · 55 seconds

Warren Buffett and Berkshire Hathaway

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  1. 0:00Warren Buffett bought Berkshire Hathaway
  2. 0:01because its boss tried to chisel him.
  3. 0:03Later he called it the dumbest stock he
  4. 0:04ever bought. Meet Warren Buffett who ran
  5. 0:06Berkshire for 60 years. In 1964,
  6. 0:09Berkshire was a struggling textile mill.
  7. 0:10Its boss, Seabury Stanton, agreed to buy
  8. 0:13back Buffett's shares at 11.50 a share.
  9. 0:15Then the offer came in at 11 and 3/8.
  10. 0:17Buffett was angry, so he bought control
  11. 0:19of the company and Stanton lost his job.
  12. 0:21The mill kept losing money, so Buffett
  13. 0:23used it as a shell. In 1967, he bought
  14. 0:26an insurance company. Insurers collect
  15. 0:28premiums before they pay claims. Buffett
  16. 0:29invested that money, the float, in whole
  17. 0:31companies. GEICO, See's Candies, Dairy
  18. 0:34Queen, BNSF Railway, plus big stakes in
  19. 0:36Coca-Cola and Apple. Last year Berkshire
  20. 0:39earned 44.5 billion dollars from its
  21. 0:41businesses and sat on 373
  22. 0:44billion dollars in cash. In September,
  23. 0:46he stepped down as chairman. The revenge
  24. 0:48purchase became a trillion-dollar
  25. 0:49company.
  26. 0:51>> [music]
  27. 0:51>> Follow Visual Capitalist for more.
Original publication and evidence scope

Original YouTube title: “Buffett bought Berkshire out of spite. Dumbest stock ever?”. The original title may contain claims not confirmed by this companion.

Upload date, duration and captions were retrieved from the public YouTube record on 2026-10-16. Dates are day-level, not an asserted exact upload time. Market values, audience totals and references to “today” belong to the original publication context.

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