Warren Buffett said an 89-year-old carpet seller would 'run rings around' Fortune 500 CEOs. Here's the remarkable story of Mrs BWarren Buffett said an 89-year-old carpet saleswoman would"run rings around" the best corporate executives and business-school graduates in America.
Berkshire Hathaway's billionaire boss praised Rose"Mrs B" Blumkin after he bought 90% of her company, Nebraska Furniture Mart, for about $55 million in 1983. At 23, virtually penniless with no formal schooling and unable to speak English, Mrs B journeyed to the US to reunite with her husband, who had fled there to avoid being drafted into the Russian army.
In 1937, aged 43, with four children, Mrs B started Nebraska Furniture Mart with $500 and stocked it with $2,000 of merchandise. Fearing she wouldn't be able to repay her creditors, she sold all the furniture and appliances in her home, including her refrigerator. Buffett approached Mrs B's son, Louie, about a buyout. The famed investor reassured him that the Blumkin family would continue to run the company, and Berkshire would take a long-term view as its owner.
She would run you over with her cart if you weren’t paying attention
Mrs B issa role model!
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