- Walter Scott Jr., a longtime friend and associate of Warren Buffett, died on Saturday.
- Scott was a Berkshire Hathaway director for more than three decades.
- He served as CEO of Kiewit, a construction group, and chairman of Level 3, a telecoms company.
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Walter Scott Jr., a billionaire philanthropist and a close friend and business partner of Warren Buffett, died aged 90 on Saturday.
“You cannot find a better model for a citizen than Walter Scott,” Buffett told the Omaha World-Herald in response to the news. “He was basically a builder, whether he was building Kiewit and physical things or building his vision of Omaha or Nebraska. He was nonstop.”
Here are 5 things to know about Scott:
He worked on projects including the $US425 ($AU583) million Fort McHenry Tunnel in Maryland, the $US802 ($AU1,101) million San Joaquin Hills Transportation Corridor in California, and the $US1.2 ($AU2) billion Hibernia Gravity Base Structure in Newfoundland, Canada.
Both Kiewit and Buffett’s Berkshire Hathaway are headquartered in Kiewit Plaza, an office building in Omaha, Nebraska.
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He listed Level 3 on the Nasdaq exchange, and it briefly secured a valuation of more than $US40 ($AU55) billion in the late 1990s. However, its stock price plunged once the dot-com bubble burst. The company, which Scott chaired until 2014, was acquired by CenturyLink in 2017.
Source: The Wall Street Journal
“You don’t justify it, you rationalize it,” Scott told the conflicted investor at the time.
Source: “The Snowball: Warren Buffett and the Business of Life”
The executive donated millions of dollars to the Henry Doorly Zoo and Aquarium, the University of Nebraska Medical Center, Colorado State University, and other institutions during his lifetime.
Source: The Giving Pledge