Subject: "Bought with their own money"

From the letter, page 8:

our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money.

I was surprised that Greg sold back his shares in BHE (presumably paying significant taxes) and then purchased shares in the open market. Rather than, say, 80% in a non-tax conversion, 20% in cash.

I figure he received the bulk of his Mid-American/BHE shares in some kind of compensation scheme back when it was a start-up - not "with his own money".

Thoughts?