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In 1984 After He Bought Her Company, Warren Buffett Said He’d “Rather Wrestle Grizzlies Than Compete With Mrs. B And Her Progeny.” Five Years Later Rose Blumkin Opened A Rival Store Across The Street.
24/7 Wall St. • • business
Key Points:
- Warren Buffett admired Rose Blumkin, founder of Nebraska Furniture Mart, for her extraordinary business acumen and competitive spirit, famously stating he would rather wrestle grizzlies than compete with her.
- Mrs. B, an immigrant who started with $500 from selling used clothing, grew Nebraska Furniture Mart into a $100 million annual sales powerhouse by the early 1980s, despite having no formal education or English skills.
- Berkshire Hathaway acquired a majority stake in Nebraska Furniture Mart in 1983, but Mrs. B remained actively involved, continuing to outsell and out-hustle managers well into her 90s.
- After a family dispute in 1989, Mrs. B left to start a competing business nearby but rejoined Berkshire in 1992 after selling her property and signing a non-compete agreement.
- Nebraska Furniture Mart remains a key profit driver for Berkshire Hathaway, with strong recent earnings growth, and Mrs. B is remembered as a legendary founder who passed away at age 104 in 1998.
