Billionaire Warren Buffet is one of the wealthiest people globally. Currently, he ranks number three in terms of wealth. He is behind Jeff Bezos of Amazon and Bill Gates of Microsoft. Buffett is the CEO of a company known as Berkshire Hathaway Inc. This is one of the biggest companies in the world with a massive turnover. The company has achieved great success under his leadership. He has been in the form for over 55 years. In this period, he has assisted the company to establish investment links in large companies such as Apple and Coca-Cola. Warren Buffett’s Berkshire Hathaway is a firm that has a huge following and is worth over $400 billion. However, even as Buffett engages in business deals worth billions, he has a furniture business that he runs. Many people may not know about this business, but apparently, it is doing very well.
He has a furniture store that he started in 1983. Berkshire Hathaway Inc. bought the Nebraska Furniture Mart at a time when superstore was not available. It was the first superstore and was created by the late Rose Blumkin. Although the business details are scarce, it is estimated that the store generates over $9 million a week in sales. This is huge compared to other stores anywhere else in the world. The company has opened a new store in Texas to expand its business operations.
Warren Buffett discussed this business in his 51st annual letter to the shareholders. He uses the letter to invite readers to buy from his Nebraska Furniture Mart at a time when there are offers. During the week in which the annual conference for Berkshire is held, the store makes the most profits. In one conference week. The company can make over $40 million. This is the largest furniture store in America in terms of sales. He describes the furniture business as having a better time than oil business.