The Wall Street Journal

Warren Buffett Knew Nothing About This Business. It Made Him Billions.

A rock star of the RV industry drove his company to Berkshire Hathaway—and made billions for Buffett’s shareholders

Warren Buffett Knew Nothing About This Business. It Made Him Billions.
Illustration: Mitch O’Connell

Warren Buffett had never heard of the man who would become one of his favorite CEOs—until he decided to buy his company. 

Berkshire Hathaway’s leader was in his office in Omaha, Neb., one day 20 years ago when he received a two-page fax out of the blue pitching his next acquisition: an RV manufacturer called Forest River. At the time, Buffett didn’t know the first thing about the business of recreational vehicles. Which meant he didn’t know the name Pete Liegl. 

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