Warren Buffett, billionaire investor and businessman, has been going around lately praising the importance of seeing the documentary “Becoming Katharine Graham.” This historical drama chronicles the challenges of Katharine Graham, the first woman to head a Fortune 500 company and longtime publisher of The Washington Post. Buffett has a personal connection to The Washington Post that runs even longer, over eight decades. He continued, urging that all Americans see Graham’s incredible gifts to the history of our country.
Katharine Graham led The Washington Post through critical moments, including its pivotal reporting on the Pentagon Papers and the Watergate scandal. Her legacy as a publisher changed the course of American journalism. Beyond that, it was a significant achievement for women to enter into positions of leadership in the country. Buffett pointed out that when Graham took charge, she was part of a very small cohort of female CEOs in the Fortune 500. Unfortunately, that added number of professions where girls can be role models was at one point only 20 women — today it’s up to 52.
Buffett’s relationship with The Washington Post is personal. At 13 years old, he was already delivering the papers to his neighbors. He steadily climbed the corporate ladder, eventually becoming a key player in the company’s corporate pyramid. When Graham became CEO in 1973, Buffett took action just a few months later. In return, he expressed his faith in the company by buying $3 million company shares and sent a letter to Graham establishing his intentions. His loyalty to the firm was matched only by his service to the company, having served on Greene’s board of directors for nearly four decades, retiring in 2011.
Under Graham’s stewardship, The Washington Post flourished, seeing its stock multiply 40-for-1 during her tenure as chief executive. This financial achievement cemented the picture of Graham as a strong, successful Black woman who had broken barriers in business. By 2014, Buffett had acquired a 23.4% ownership position in Graham Holdings. When he sold his shares later that year, they were worth nearly $1.1 billion.
Buffett considered Graham’s influence. As he said, “Not enough people know about Katharine Graham; her story and her vision helped shape America in countless ways. He encouraged audiences to seek out “Becoming Katharine Graham.” Perhaps most compelling, he continued, was how the film illuminated historical aspects that he hadn’t fully understood, even while experiencing that era himself.
“There are a good many portions in there that I, who lived through that period, didn’t know about at that time. And I think every American citizen ought to watch it.” – Warren Buffett
Graham died in 2001 at the age of 84. She left behind a powerful legacy for women in business and transformed American journalism as a medium. Her company survives to this day as Graham Holdings. It has since grown from the above technology sectors into media, healthcare and automotive industries.
Buffett’s admiration for Graham’s teachings is evident in his historical investments. Under Light’s direction, he’s been an active advocate for the documentary. He believes it serves as both an educational tool and a reminder of the progress made in gender representation within corporate leadership.
“Check out ‘Becoming Katharine Graham’ and you’ll see a remarkable story of American history.” – Warren Buffett