04/23/2026
Thanks for the love Mr. B 🫶🏻 Mr. B’s comment about State Farm: “When Leo Goodwin started GEICO 80 years ago, he probably wanted to get rich,” he said, referring to GEICO’s founder. “And probably at Progressive, I know people wanted to get rich. And at Travelers and Aetna. You can name them, dozens and dozens of companies.
“And who wins? A mutual company,” Buffett concluded. (Mutual Co. is State Farm)
“In terms of presence, size, they are still the biggest company. If you omit Berkshire, they have the highest net worth by far. They have $140 billion or something in net worth,” Buffett said, speculating that Progressive’s net worth is about one-sixth that of State Farm.
“We’re spending $2 billion a year telling people the same thing we’ve been telling them for 70 or 80 years.” But when all is said and done, “State Farm still does more business than anyone else”
Well that’s because every decision made at the top is for the benefit of our policyholders!!
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