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He started buying shares in Berkshire from Seabury Stanton, the proprietor, whom he later fired. Buffett’s partnerships started purchasing shares at $7.60 per share. In 1965, when Buffett’s partnerships began buying Berkshire aggressively, they paid $14.86 per share whereas the company had working capital of $19 per share. Buffett took management of Berkshire Hathaway at a board meeting and named a model new president, Ken Chace, to run the company. In 1966, Buffett closed the partnership to new money.