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Non-Tech : Berkshire Hathaway Class B -- Ignore unavailable to you. Want to Upgrade?

To: 249443 who wrote (1561)	12/15/2004 7:42:32 AM
From: Neil H	Read Replies (1) \| Respond to of 1652

Gates Named to Berkshire Hathaway Board Wednesday December 15, 3:35 am ET Bill Gates Named to Board of Billionaire Warren Buffett's Berkshire Hathaway OMAHA, Neb. (AP) -- The world's wealthiest man has joined the board of an investment company owned by the second wealthiest. The board of billionaire Warren Buffett's Berkshire Hathaway Inc. voted Tuesday to elect Microsoft Corp. founder Bill Gates to fill the current vacancy left by the July death of Buffett's wife, Susan. Gates has long been a shareholder in the company and is a friend of Buffett's. The two became friends after meeting at a social event in Seattle in 1991. Since then, Gates and Buffett have shared of love of cards -- namely, bridge. Both play competitively and often meet online to play. Earlier this year, Forbes magazine listed Buffett as the world's second richest person with personal wealth at $41 billion, behind Gates' $48 billion. In 2000, Buffett publicly defended Gates as the U.S. Justice Department pursued an antitrust case against Microsoft. "I think we've got something that is working very well and I wouldn't want to tinker with it very much," Buffett said in defense of Gates at the time. Gates' business acumen was apparently impressive enough to convince Buffett -- renown for his resistance to invest in tech stocks -- to buy 167,500 shares of Microsoft preferred stock in 1999. Berkshire Hathaway owns businesses and stock in a wide variety of industries, including insurance, furniture, restaurants, candy and newspapers. Gates becomes one of 11 members on Berkshire's board of directors that includes Buffett, Berkshire vice chairman Charlie Munger and Buffett's son, Howard Buffett.