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In his 2025 annual letter to Berkshire Hathaway shareholders, Chairman and CEO Warren Buffett emphasized that educational pedigree holds little significance in his selection of company leaders. He recounted the 2005 acquisition of RV manufacturer Forest River, led by the late Pete Liegl, who earned his MBA from Western Michigan University. Buffett highlighted Liegl’s exceptional performance over 19 years, noting that no competitor matched his success.
Buffett stated, “I never look at where a candidate has gone to school. Never!” He acknowledged that while some great managers hail from prestigious institutions, many, like Liegl, have thrived without such backgrounds. Buffett cited his friend Bill Gates, who left Harvard to co-found Microsoft, as an example of success without completing an esteemed degree.
Reflecting on his own educational journey through the University of Nebraska-Lincoln, Penn’s Wharton School, and Columbia University, Buffett expressed belief in lifelong learning. However, he observed that innate business talent often outweighs formal education, describing Liegl as a “natural.”
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