Berkshire Hathaway (BRKA), the conglomerate controlled by Buffett, announced Tuesday it was buying a 38.6% stake in Pilot Flying J, the truck stop operator run by Cleveland Browns owner Jimmy Haslam. But Berkshire (BRKB) will eventually become the majority owner of Pilot Flying J. Buffett is famous for investing in businesses that he can easily understand and that can benefit from a strong U.S. economy. "Jimmy Haslam and his team have created an industry leader and a key enabler of the nation's economy," Buffett said in a statement about the Pilot Flying J deal. "We have that in Berkshire Hathaway -- they believe in our strategy, support our team and are excited to see Pilot Flying J grow.

Source: CNN October 03, 2017 15:00 UTC