the lady who got attention of warren buffett || Rose Blumkin
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Rose Blumkin was born on December 3, 1893, in Scheedrin, Belarus and she is the founder of Nebraska furniture mart in 1937
She was from a Jewish family background her father’s name is Solomon
Who was a rabbi and her mother’s name is Chasya Gorelick she ran a grocery store. she was one of eight children.
When she was twenty Rose married Izya (Isadore) Blumkin.
Blumkin immigrated to the US in 1917 at that time she could not speak English.
In 1919 she moved to Omaha, Nebraska, where she started a used clothing store.
In 1937 she opened the Nebraska furniture mart and started selling used furniture in that store.
She was also known as Mrs. B at that time.
In her mid-40s she opened the business in the basement of her husband’s store with an investment of 500 dollars at that time
Blumkin grew the business to become the largest indoor furniture store in America. This caught the attention of Warren Buffett. In 1983, Buffett’s company purchased a 90% share of the Nebraska Furniture Mart for $60 million.
In 1989, six years after selling 90% of her company to Berkshire Hathaway, Blumkin retired, only to come out of retirement in three months to open up a rival store. It was called “Mrs. B’s Clearance and Factory Outlet” and was situated directly across the street from the Furniture Mart. It became profitable by 1991. Buffett acquired the business in 1992. Blumkin continued to be involved in day-to-day operations until shortly before her death.
Finally, Rose Blumkin died at the age of 104 on August 9, 1998, due to Cardiac Issues and Chronic Bronchitis.
Mrs. Blumkin is buried in the Golden Hill Jewish Cemetery.