Bloomberg Billionaires Index

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# 384 Walter Scott $5.13B

Random fact: BHE stake can be exchanged for shares in Berkshire Hathaway.

Overview

Scott is credited with a 8 percent stake in Berkshire Hathaway Energy, the subsidiary of Berkshire Hathaway that owns utilities and energy companies in the U.S., the U.K. and Canada. The closely held business has 238,300 miles of electricity transmission and distribution lines and more than 11 million electric and gas customers.

As of :
Last change -$72.9k ( 0%)
YTD change +$1.17B ( +29.4%)
Industry Energy
Biggest asset Berkshire Hathaway Energy
Citizenship United States
Age 88
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Walter Scott's net worth of $5.13B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Scott and his family own a 8 percent stake in Berkshire Hathaway Energy, a subsidiary of publicly traded Berkshire Hathaway, according to Berkshire Hathaway's 2019 proxy. BHE's 2016 annual report disclosed that Scott can elect to exchange his stake in the division for a 0.9 percent holding in parent Berkshire Hathaway. The value of this option, which isn't disclosed in subsequent annual reports, is valued using the closing price of Berkshire Hathaway Class B shares as of July 16, 2019.

He also holds less than 1 percent of publicly traded infrastructure provider Valmont as well as a 0.01 percent direct stake in Berkshire Hathaway, according to SEC filings.

Berkshire Hathaway Energy has 238,300 miles of electricity transmission and distribution lines and more than 11 million electric and gas customers, according to a 2019 corporate brochure.

The value of his cash investments is based on an analysis of share sales, dividends, market performance, taxes and charitable contributions.

Scott's foundation didn't respond to requests for comment on his net worth.

Biography

Birthdate: 1/1/1931
Family: Widowed, 6 children
Education: Colorado State University

Walter Scott was born in Omaha, Nebraska in 1931. A childhood friend of Warren Buffett, he studied civil engineering at Colorado State University, according to the university's website. He joined closely held construction company Peter Kiewit Sons in 1953, and 11 years later became a director of the company. He was elected chairman when Peter Kiewet died in 1979.

Scott steered the employee-owned company into investing in fiber-optic networks, ultimately selling the unit to Worldcom for about $15 billion in 1996. He parlayed some of his returns into U.S. utility MidAmerican to become its largest shareholder and, in 1999, joined forces with Buffett's Berkshire Hathaway to buy the company for $9 billion.

The billionaire sits on the board of Berkshire Hathaway and is chairman emeritus of Peter Kiewit Sons. He lives in Omaha, Nebraska.

Milestones
  • 1931 Walter Scott is born in Omaha, Nebraska.
  • 1953 Graduates from Colorado State University.
  • 1979 Becomes chairman of construction company Peter Kiewit Sons.
  • 1997 Receives the Horatio Alger Award.
  • 1999 Teams up with Warren Buffett to buy MidAmerican Energy.
  • 2010 Signs the Giving Pledge.
  • 2016 Retires from Durham School Advisory Board
  • 2016 Donates $53.3 million to Colorado State University.