Berkshire’s Hathaway Inc portfolio includes numerous companies in different areas for example insurance, electronics, furniture, diamond stores, banks just to mention some of them but ISCAR has been one of the most important acquisitions of all time.
Why is ISCAR so important?
Warren Buffet first bought 80 percent of the company back in 2006 making Stef Wertheimer family one of the richest in Israel. ISCAR is one of the few companies that Warren Buffet has bought outside the United States, the rest of the company was bought a few years ago making Berkshire Hathaway the sole owner of the company. ISCAR for those who do not know is a multinational metalworking company that specializes in cutting tools.
Every year Warren Buffet has an annual meeting with shareholders and he admitted that the company was beyond his expectations describing the company as brilliant. ISCAR was bought for 2 billion dollars becoming one of the biggest investments that Berkshire Hathaway has made.
An interesting fact about the former owner Stef Wertheimer is that he has used part of his fortune to build recreation parks and organizations to bring peace to Israel, now that he has become one of the richest people in Israel he would like to continue contributing to society and the state of Israel.
Warren Buffet once again has made a good decision by buying this company which totally reflects the way he likes to invest and that is in long-term business companies that are stable and are capable of growing.