Billionaire Warren Buffett’s Favorite Business Is See’s Candies
The third-wealthiest person in the world, Warren Buffett has a “dream business” and it is See’s Candies. Warren Buffett is one of the most successful investors in the world who has invested in Apple, Amazon, Bank of America, and many others.
The chocolates manufacturing company, See’s Candy was purchased by Buffett in 1972. See’s Candy has given a tremendous return on Buffett’s investment, north of 8000% since 1972, or more than 160% a year.
In an annual shareholder meeting this year Buffett said, “We put $25 million into it and it’s given us over $2billion of pretax income, well over $2 billion.”
See’s is a very famous brand and has a loyal customer base, which gives the company competitive advantages to charge more.
The so-called Sage of Omaha’s has appreciated See’s outsized financial returns, modest capital needs, economic moat, quality personnel, and the chocolates themselves.