Berkshire Hathaway Inc (BRK.A): "So in 1996, chief executive officer (CE...

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bar1080

Re: Prudent Capitalist post# 1093

Monday, 12/18/2023 4:16:34 PM

Monday, December 18, 2023 4:16:34 PM

"So in 1996, chief executive officer (CEO) Warren Buffett and the board responded by issuing 517,500 shares of Class B shares. This allowed anyone interested to invest in the company for 1/30th the price (and equity) of a Class A share of stock. "

A 50-to-1 stock split in 2010 sent the ratio to 1/1,500th, which means each share of a Class A common stock was convertible at any time to 1,500 shares of Class B common stock.

"Class B shares carried correspondingly lower voting rights as well (of the voting rights of a Class A share 1/200th of the per-share voting rights. later changed to 1/10,000th) and Buffett marketed Class B shares as a long-term investment and as an open-ended offering, so as to prevent volatility as a result of supply concerns.

https://www.investopedia.com/ask/answers/021615/what-difference-between-berkshire-hathaways-class-and-class-b-shares.asp

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