In financially uncertain times who couldn't use to have a few billion dollars laying around? While past generations of entrepreneurs made their fortunes in oil, railroads, steel and banking, one of today's financial moguls made his billions because of fabric (sort of).

Textiles probably isn't the first thing that comes to mind when you hear the name Warren Buffett. In a sense (we're really reaching) he made his fortune because of textiles. In 1962 Buffett first purchased stock in Berkshire Hathaway. In time he bought enough stock to take a controlling share of the company. By the late 1960s Berkshire Hathaway had expanded into the insurance industry. Under Buffett's guidance Berkshire Hathaway became a conglomerate holding company with investments across many industries. Now, you might find yourself asking: "Pray, what does this have to do with fabric?" (if you talk in an old-timey way).

Patience... Well the company that is Berkshire Hathaway came into being as three separate companies in the 19th century. In 1839 Oliver Chace established the Valley Falls Company to manufacture textiles. Ninety years later this Valley Falls merged with Berkshire Cotton Manufacturing, founded in 1889. The new company was called Berkshire Fine Spinning Associates.

One year before Berkshire Cotton came into being, the Hathaway Manufacturing Company was founded in 1888. Berkshire and Hathaway merged in 1955 and appeared poised to finish the decade strongly. Within a few years however, seven of the company's locations had been closed accompanied by considerable layoffs.

And that's were Warren Buffett came in. So, with some imagination and an extravagant amount of specious reasoning it can be said that Warren Buffett made his billions in the fabric industry.

So if you are ever tempted to prospect for gold in your cubicle or dig for oil in your cul-de-sac, know that the real money is to be made in fabric. Speaking of money...

Just in case you don't have a few billion stashed at home shop with J&O for great prices on your fabrics.

Posts by J&O Fabrics Store