Mykhaïlo Golub

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This need explains why we would want the operating members of your family to retain a 20% interest in the business. We need 80% to consolidate earnings for tax purposes, which is a step important to us. It is equally important to us that the family members who run the business remain as owners. Very simply, we would not want to buy unless we felt key members of present management would stay on as our partners. Contracts cannot guarantee your continued interest; we would simply rely on your word.
Mykhaïlo Golub
Buying family business
Berkshire Hathaway Letters to Shareholders: 1965-2024
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