Berkshire Hathaway, the longtime and phenomenally successful investment company run by Warren Buffett, and its insurance divisions, General Re, National Indemnity, GEICO and others, will soon have the benefit of the experience and advice, of America’s two wealthiest individuals.
On December 14, 2004, the company’s Board of Directors voted to elect William H. Gates III to serve as a director to fill the current vacancy on the Board.
The announcement noted that Microsoft’s founder and former CEO (he’s now officially the company’s Chief Software Architect) “has long been a shareholder of Berkshire Hathaway. He and Buffett are also longtime friends.
Gates has long been the wealthiest individual American, with a net worth in excess of $70 billion. Buffett’s a poor second with only around $34 billion.