close
close

Every American should see Katharine Graham documentary

The announcement of Warren Buffett's retirement announcement aroused most of the attention at Berkshire Hathaway's annual conference 2025, but the billionaire investor also used the event to share a “fascinating” film recommendation.

“Take a look at the Katharine Graham and you will see a remarkable story of American history,” Buffett told the participants of the meeting, which took place on May 4th. The documentary, which was streamed on Amazon Prime in February, covers the life of the long -time publisher of the Washington Post, which disconnects the newspaper through pivotal -historical moments, including its reporting, and the amazing, and ratio and water.

“There are many parts that I did not know at this time. And I think every American citizen should watch it,” said Buffett, 94, who also announced his upcoming retirement as a CEO of Berkshire Hathaway during the annual meeting.

Buffett has “no financial interest” in the film, he said, but he appears in it as a long -time friend of Grahams, who previously has a significant participation in the post office. Graham died in 2001 at the age of 84.

Buffett's relationship with the newspaper goes back more than eight decades. When he was young, his family moved to Washington, DC after the election of his father to us Congress. At the age of 13, Buffett woke up every morning at 4:30 a.m. to earn money for the Washington Post to his neighbors.

Don't miss: How to change career and are happier at work

Decades later, Buffett invested 11 million US dollars in Washington Post Company, the holding company that had the newspaper. In 1973 he carried out the management to become the first CEO of a Fortune 500 company.

At that time, Buffett wrote a letter to Graham and informed her that he bought significant shares in her stock corporation, of which he believed that she was “dramatically undervalued”. In the letter that Graham had recorded in her autobiography “Personal History” from 1997, Buffett also included his confirmation from Graham as CEO.

After the purchase of these shares, Buffett performed the company on the company for almost four decades until 2011 and often shared his investment advice from Graham. In the documentary film, Graham remarked about Buffett: “He used to come to board meetings with around 20 annual reports, and he would lead me through these annual reports. I mean it was as if he was going to the business school with Warren Buffet.”

At Berkshire Hathaways meeting 2013, Buffett praised the number of large US companies of women: “It moves in the right direction … but I hope it moves on and moves faster.” At that time there were 20 female CEOs in Fortune 500. According to Fortune 52, there was last year.

Buffett's bet on Graham and the newspaper proved to be fruitful. The company's “stock rose 40: 1 as CEO”, he noticed during the 2013 session.

By 2014, Buffett held a participation of 23.4% in the company called Graham Holdings, which has a selection of real estate in the media, health care and automotive industry. (The company sold the Washington Post 2013 to Amazon founder Jeff Bezos for 250 million US dollars.)

When Buffett sold his shares to Graham Holdings in 2014, his share of almost 1.1 billion US dollars was rated, the Washington Post reported at that time.

At the meeting in Berkshire 2025, Buffett said that the documentary would probably learn a lot from Graham's life and career: “People don't remember Katharine Graham enough. [her] The story has shaped America in many ways. “

Would you like a new career that is paid higher, more flexible or more fulfilling? Take the new online course from CNBC How to change career and are happier at work. Expert instructors provide you with strategies to network successfully, to revise your résumé and to confidently switch to your dream career. Start today and use the Earlybird voucher code for an introductory discount from a 30% discount to 67 USD (+taxes and fees) until May 13, 2025.

Plus, Register for CNBC Make IT is newsletter Get tips and tricks for success at work, money and in life.

Leave a Comment