Today Forbes released its report on the 2000 most valuable companies in the world.
And sitting in the number position is a company with its headquarters in Omaha. So let's take a look at the Omaha success story.
The Omaha company that is now the largest in the world
It should not surprise readers that the company I'm referring to is Berkshire Hathaway.
Berkshire Hathaway owns over 60 companies, including insurer Geico, battery maker Duracell, and the Dairy Queen restaurant chain, and was started by the man known as the Oracle of Omaha, Warren Buffett.
Buffett started his journey as an entrepreneur at a young age, purchasing his first stock when he was only eleven years old. By the time he was thirteen, he was already filing taxes. While still a teen, he invested in pinball machines they stationed in barbershops, splitting the profits with the shop owners. Before he was 16, he had bought 40 acres of Nebraska farmland with the proceeds from earlier business ventures.
Despite the age of the two partners, Warren Buffett, 91, and Charlie Munger, 98, they managed to increase profits by 53% over the previous year, allowing them to take the number one position on this list.
The calm assuring nature of Buffett could be a reason for his company's success. Despite rising inflation and difficult economic conditions, Buffett expressed optimism in April's annual shareholder's meeting.
“If you do something valuable and good for society, it doesn’t matter what the U.S. dollar does. Sometimes markets do crazy things. That’s good for Berkshire, not because we’re smart, but because we’re sane.”
Best of all, despite the success of his company and his enormous wealth, Buffett is focused on how his money can help others.
He has been called the greatest philanthropist of our time and sets an example for other wealthy people to follow. So far, Buffett has given away 50% of his wealth, and he is aiming to give away his entire fortune before he dies.
Let's hope that this Omaha business keeps its place at number one.
Readers, what do you think of an Omaha business rising to number one in the world? Are you proud of what Buffett has done?
Please leave your comments below.