Monday, October 14, 2013
How Warren Buffett made life easy for Amazon founder Jeff Bezos
The founder of online retail giant Amazon.com (Nasdaq: AMZN) Jeff Bezos recently made headlines when he purchased the US newspaper The Washington Post for US$250 million from The Washington Post Co. (NYSE: WPO), a media company majority-owned by Warren Buffett?s Berkshire Hathaway (NYSE: BRK.A).
The purchase by Bezos also brought to light a letter penned in 1975 by Buffett to then-CEO of The Washington Post Co., Katherine Graham. As reported in Fortune Magazine, the Post?s pension plan is in exquisite condition, boasting around $1 billion in funds excess to requirement. It turns out the healthy state of the pension assets is…