As Berkshire’s chairman and chief executive officer for more
than 4 a long time, Buffett, 83, constructed the company from a fabric maker
into a enterprise that sells insurance, hauls freight, generates energy,
manufactures chemical compounds and sells products from diamonds to undies. The
billionaire has used price range from coverage gadgets consisting of Geico to
shop for stocks and make acquisitions.
Buffett has been a longtime supporter of President Barack
Obama and served as an casual economic adviser. Obama presented Buffett the
Presidential Medal of Freedom in 2011 and known as him “one of the maximum
respected” men within the international.
Robert Benmosche, CEO of insurer AIG, has said he welcomes
Fed oversight while highlighting that Berkshire hasn’t
been given the identical designation. AIG acquired a U.S.
bailout in 2008 that it repaid four years later.
“they say huge businesses which might be inside the
insurance business ought to be regulated, but I wager in some way they’re not,”
Benmosche advised an investor convention in June, relating to Berkshire.
“They’re pretty big, the last time I appeared.”
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