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It would become certainly one of Berkshire’s most lucrative investments and one which it still https://burlingamehistorical.org/bylaws/ holds. In a second letter, Buffett announced his first investment in a private business — Hochschild, Kohn and Co, a privately owned Baltimore department retailer. In 1967, Berkshire paid out its first and only dividend of 10 cents. In 1969, Buffett liquidated the partnership and transferred their belongings to his companions together with shares of Berkshire Hathaway. In 1970, Buffett began writing his now-famous annual letters to shareholders. He lived solely on his salary of $50,000 per 12 months and his outdoors investment earnings.

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