Stewart Horejsi Biography & Net Worth
|Popular Name:||Stewart Horejsi|
|Profession:||Businessman, Entrepreneur, Investor|
|Net Worth:||$1.1 Billion|
|Last Updated:||December, 2020|
Stewart Horejsi is an American Businessman and Investor. He began buying stock for as little as $265 per share in Berkshire Hathaway after reading John Train’s book titled “The Money Masters” in 1980. He began to attend yearly meetings which had fewer than a dozen people attending in folding chairs. Now Berkshire’s class A stock is considered the most valuable in the whole world. While Stewart still owns some Berkshire shares, he has also put hundreds of millions of dollars in his own closed-end mutual fund. Stewart Horejsi net worth and biography is the subject of this article. You will find out many important details you never knew about this billionaire businessman if you read on.
Stewart Horejsi’s Early Life
Stewart Horejsi was born in 1937 in the United States. Following his graduation from the University of Kansas in 1962, he returned home to Salina in Kansas to take over the welding supply company of his family. He expanded the business and invested most of the profits he made in Berkshire Hathaway stock. He has spent most part of his life managing his family’s wealth.
Stewart Horejsi’s Career
After Stewart graduated from the University of Kansas, he returned home to take care of a struggling welding supply company that belonged to his family. It was typically a small business but Stewart did not let anything discourage him. Today, Horejsi is a self-made billionaire and a poster name for buy-and-hold investing. His journey from rags to riches is a truly inspiring one, and a very significant part of his career. It all began with a small investment in a firm called Berkshire Hathaway. Horejsi, a native of Kansas, bought 40 shares of this local company because he was inspired with the story of how a businessman Warren Buffett turned a former textile company into an investment giant.
Initially, Stewart Horejsi bought the stocks at $265 per share. Two weeks later he another added 60 shares at $295 apiece. A month later, he bought 200 shares for $330 each. What was an initial investment of $10,600 has transformed into $745 million. Over the years, Stewart Horejsi bought 5,800 Class A shares of Berkshire Hathaway (NYSE: BRK-A). Today, the price of each Berkshire A share is trading for over $173,000. From 1980 to date, his return on Berkshire alone was forty times greater than the S&P 500’s return over same time period.
To every long-term investor, Stewart Horejsi is a lesson and an example to be emulated. He saw an attractive opportunity and ventured to invest for the long haul. He kept adding to his position throughout the years, holding on to every one of the shares he had accumulated until 1998. He then sold a quarter of his position when Berkshire Hathaway reached a then all-time high of $78,000.
Conviction and patience helped make this man a billionaire. They were also the same virtues upon which the Berkshire Hathaway company itself was built. American billionaire Warren Buffett became the premier investor in the world by buying great businesses when they had attractive prices. And it is that same quest for value that has morphed Berkshire into a $285 billion company today. Not only did Berkshire Hathaway make Warren Buffett very rich, it made anyone who invested in it company early on rich too. Stewart Horejsi is one of the many “Berkshire Billionaires” out there. In addition to many of the company’s top executives, including Charles Munger, there are several other billionaires that are listed on the Forbes 400 who earned their massive wealth by investing in Berkshire. The Berkshire Billionaires serve as an important lesson in patient, long-term investing. Only few investors become super wealthy by buying lots of shares in one stock just like Stewart Horejsi did. But patient investors that “buy what they know” and hold onto big companies for the long-term are liable to achieve stellar returns.
Stewart Horejsi Net Worth
This businessman built much of his wealth by investing early enough in Warren Buffett’s Berkshire Hathaway stock. He began purchasing the stock for as little as $265 per share in 1980. He has invested a lot of money in his own mutual fund despite still owning Berkshire stock. Today, Stewart is a billionaire. His 4,300 Class A shares are valued at about $750 million and his stake is much more than the stake controlled by American business tycoon Bill Gates. He manages his stocks through his management firm, Boulder Investment Advisers, LLC, based in Boulder, Colorado. His funds own Berkshire shares as well as interests in Walmart, Wells Fargo, and IBM – all of which are partly held by the Berkshire Hathaway company.
Stewart Horejsi net worth is pegged at $1.1 billion currently. He splits his time between houses in Arizona, Oregon and Barbados, where he bought an 18th-century plantation home once occupied by actress Claudette Colbert.
Chances are you will not become the next Stewart Horejsi – a humble man who became wealthy by investing in the right thing at the right time. But by emulating his buy-and-hold philosophy in your portfolio, you offer yourself a better opportunity to identify a long-term winner that may produce some serious returns in the future.