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Warren Buffett Paid $1.7 Billion For A Business Without Ever Meeting Its Founders By Using The ‘Most Important’ Thing in Business

Warren Buffett is known for his astute business practices and hardball negotiation tactics. His company, Berkshire Hathaway Inc., is one of the largest conglomerates and investment companies in the world. It has acquired dozens of companies over the years with over 75 wholly owned or controlled subsidiaries. It owns shares valued at billions of dollars in companies like Apple Inc., Amazon.com Inc., Mastercard Inc. and others.

Buffett amassed his incredible portfolio and his company’s nearly $1 trillion value through decades of astute investing, smart acquisitions and business acumen. Buffett, a long-time resident of Nebraska, earned his undergraduate degree in business from the University of Nebraska-Lincoln in 1950. Nearly six decades later, he returned to the university to give a speech to the graduating class, talking about some of the most valuable things he learned at a young age that helped propel him to where he is today.

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Buffett said there’s nothing more important to understand than accounting.

“People ask me what they should take in business school,” Buffett said. “You have to understand accounting. It’s the language. It’s like being in a foreign country without knowing the language if you’re in business and you don’t understand accounting.”

Not only is this a valuable tool for understanding the world of business, Buffet says it made him “a lot of money.”

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Accounting isn’t an abstract principle only used in textbooks. Buffett recounts how he used accounting to acquire the popular home manufacturing company Clayton Homes in early 2003.

Most acquisitions have extensive due diligence, meetings, negotiations and other processes before an acquisition can take place. While much of this likely still took place, Buffett gave a unique, billion-dollar example of how he used accounting to acquire the business.

“We agreed to $1.7 billion for it. I made that deal over the phone without ever meeting the people there,” Buffett said. “But I had seen enough through reading 10-Ks, 10-Qs, annual reports.”

Buffett admits using his accounting skills and an acquisition target’s Securities and Exchange Commission disclosures to analyze the company and learn about its quality based on the decisions revealed in their filings.

While it’s likely a host

The Business of MMA in 2023: UFC produced over $1 billion in revenue, PFL buys Bellator, fighters turn to OnlyFans

The global pandemic crushed a lot of businesses across the globe, but it’s safe to say the UFC is one of the biggest success stories to emerge from that disastrous time.

While the pandemic prompted down years for just about everybody, the UFC still exploded in popularity over the past three years, securing bigger sponsorship deals, higher viewership, and strangely enough an invulnerability to losing fan interest in events that didn’t always have great name value attached. Case in point: Conor McGregor hasn’t fought since 2021 yet the past two years have still been the best ever for the UFC financially.

Now that the UFC operates as a publicly traded company — first under Endeavor and now as part of TKO Group Holdings — financial disclosures are regularly reported. What that shows is that the UFC has become a juggernaut of profitability, with revenue increases quarter after quarter, transforming the promotion into a company valued at over triple the-more-than $4 billion price tag Ari Emanuel and his investors at Endeavor paid for it in 2016.

UFC went on a ridiculous streak of sellouts at arenas, and while that momentum eventually stopped, the organization has still broken several live gate records over the past year.

A deep dive into the numbers in 2023 proves that the UFC isn’t slowing down, and if anything, the organization may be gaining steam heading into 2024 and beyond — 2025 will almost assuredly become the UFC’s biggest financial year because the company will ink a new broadcast rights deal worth billions. Multi-billions actually.

But for now, we’re going to take a look at the biggest business stories related to the MMA world in 2023 — and just for transparency’s sake, there’s one issue we won’t be tackling with this article, which is the effect of the ongoing class-action lawsuit against the UFC. That’s not to say information revealed from the lawsuit won’t be referenced, but its full financial impact won’t be felt until there’s either a settlement or the case goes to trial, and that’s not happening in 2023.

So with that said, let’s get started with a look at the UFC’s financials based on disclosures through the first nine months of the year (the final quarter won’t be reported until early 2024 so those aren’t available just yet).

UFC Produced More Than $1 Billion in Revenue in Just 9 Months

That’s probably the most

Trump’s Business Empire Is Worth at Least $1.2 Billion Since He Left Office

(Bloomberg) — Former President Donald Trump values his business empire at a minimum of $1.2 billion, a federal document released Friday showed, as he cashed in from speaking engagements and ventures such as digital trading cards after he left office.