Yes, that’s correct, there’s no apostrophe in Borsheims. A leading name in fine jewelry, Warren Buffett purchased a majority of their stock for Berkshire Hathaway in 1989 and has famously said, “If you don’t know jewelry, know the jeweler.”
It’s become a popular tradition for attendees of the Berkshire Hathaway Annual Shareholders Meeting to gather at Borsheims that Friday evening for a shareholder-only Cocktail Reception. As with the Nebraska Furniture Mart, flashing your credentials will earn you a shareholder discount off any purchases during a discount period (often approximately a week before and after the meeting).
History & Trivia
Borsheims was founded in 1870 by Louis Borsheim. The business was sold to Louis Friedman in 1947 and passed to his son Ike in 1973. Berkshire Hathaway connection: Louis Friedman was the brother-in-law to Rose “Mrs. B” Blumkin, who founded and built Nebraska Furniture Mart. He helped co-founded NFM but sold his interest in the business to the Blumkins in 1947. Borsheims moved from its iconic downtown location to its current spot in Regency Court in 1986.
In 1993, Bill Gates bought the engagement ring for his fiancee, Melinda, at Borsheims. Gates, the richest man in the world at the time, shared a great anecdote about the Easter Sunday purchase,
“Warren had them open up the store on a Sunday especially for us. On the way there, he told me that when he first got engaged, he spent 6% of his net worth on the ring, and that as a sign of true loyalty, I should do the same for Melinda.”
From 2011 to 2014, Buffett would spend a shift behind the counter helping sell jewelry to shareholders who waited in line for a “Crazy Warren” discount. In 2014, he secretly helped pull off a surprise marriage proposal.
Location
Borsheims
120 Regency Parkway
Omaha, NE 68114
(402) 391-0400
Website
[google_map location_id=”61″/]
Links
“Borsheims: Our History” Borsheims
“From behind Borsheims counter, Warren Buffett helps young man with marriage proposal” Omaha World-Herald