Core Viewpoint - Warren Buffett acknowledged the significant financial contributions of Apple CEO Tim Cook to Berkshire Hathaway, suggesting that Cook has made more money for the company than Buffett himself has, which is considered an exaggeration [1][12]. Group 1: Buffett's Praise for Tim Cook - Buffett expressed admiration for Tim Cook, stating that Steve Jobs made the right choice in selecting Cook as his successor [4]. - Buffett recognized Jobs' unique contributions to Apple, highlighting the innovations launched under his leadership [3]. Group 2: Financial Impact of Apple on Berkshire Hathaway - Berkshire Hathaway built a substantial position in Apple from 2016 to 2018, with a cost basis of around $34 per share [7][8]. - The total gain from Apple's stock sales by Buffett is estimated to be around $97 billion, with an additional unrealized gain of approximately $52.5 billion from shares still held [9][10]. - Including dividends, the total financial benefit from Apple to Berkshire is estimated to be around $155 billion [10]. Group 3: Comparison of Financial Contributions - Buffett's initial investment in Berkshire Hathaway was between $7.50 and $11.375 per share, with the current value of Class A shares at $767,000 [11]. - The majority of Berkshire's current market capitalization of $1.1 trillion has been generated under Buffett's leadership, indicating that while Cook has contributed significantly, Buffett's impact has been greater [12]. Group 4: Future Considerations - With Buffett transitioning leadership to Greg Abel and Cook continuing at Apple, there is potential for Cook and Apple to surpass Buffett's financial contributions to Berkshire in the long term [13].
Warren Buffett Said Apple CEO Tim Cook Has Made Berkshire Hathaway More Money Than He Has: Was He Right?