Ted Weschler

Ted Weschler studied economics at the University of Virginia and entered the investment business at W.R. Grace & Co. He founded Peninsula Capital Advisors, a private investment fund that reportedly generated extraordinary returns over many years. Weschler gained widespread attention when he bid $2.1 million in the annual Glide Foundation charity auction to have lunch with Warren Buffett in 2010 — and then bid $3.4 million the following year for a second lunch. This willingness to pay $5.25 million in total for two meals demonstrated his genuine desire to learn from Buffett and attracted significant media attention. Buffett hired Weschler in 2012 as an investment manager at Berkshire Hathaway, alongside Todd Combs. Like Combs, Weschler manages approximately $15 billion of Berkshire's equity portfolio. He has been associated with investments in healthcare companies and technology positions. Together Combs and Weschler represent the next generation of equity management at Berkshire Hathaway, and their eventual assumption of full control of the equity portfolio represents one of the most important succession events in institutional investing history.