An average businessman who took a gamble investing heavily in a relatively unknown company in 1980 has been revealed as one of the many regular Joes who became a billionaire thanks toWarren Buffett.
Stewart Horejsi’s family welding business was struggling when he decided to buy 40 shares of Berkshire Hathaway Inc. for an average of $265 each.
According to Daily Mail, it was this last-ditch risk that made 75-year-old father of two a billionaire with a bigger stake in Buffett’s company than Bill Gates.
The Kansas native now reportedly has 4,300 Class A shares of the Nebraska-based company, giving him a net worth of $1.1 billion.
In 1980, Stewart invested $10,600 in Berkshire after a few friends told him about Buffett and how he got rich. Two weeks later, he bought 60 more shares at $25 and, one month later, spent $66,000 buying 200 shares at $330 each.