The Founder Doctrine · People & Control
Buffett Called BNSF an 'All-In Wager.' He'd Already Been Holding the Cards for Three Years.
The BNSF deal is sold as a bold $34 billion crisis bet on America. But Berkshire started buying the stock in August 2006, and already owned 22.6% before the merger was signed. The wager was real. It just wasn't a leap.
7 min