Berkshire Hathaway Is Buying an IPO for the First Time Ever

Berkshire Hathaway Is Buying an IPO for the First Time Ever

Warren Buffett, the billionaire investor who controls most of Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) stock portfolio, has traditionally avoided IPOs. In fact, the last time Buffett participated in an initial public offering, Dwight Eisenhower was the president of the United States. Here's what we know, why this is such an unusual move for Berkshire, and whether Buffett or someone else at Berkshire is behind the deal.