No. of Recommendations: 2
The family, including Cleveland Browns football team owner Jimmy Haslam, sold Berkshire a 38.6% Pilot stake for $2.8 billion in 2017 and another 41.4% stake for $8.2 billion in January. It said it has a right to sell the remainder under the same valuation methods on Jan. 1, 2024.
Looks like the Haslam's did pretty good:
2017 valuation $7.25bn (2.8/0.386)
2023 valuation $19.8bn (8.2/0.414)
Berkshire and SPY didn't do as well (both up about 90% 2017-2022).
Visited a Pilot a couple months ago. It was filthy. Coffee was bad. Was busy, though.
Called in a Flying J a few weeks ago and it was pleasantly clean and tidy. Late at night. Not busy.
