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<ul class="summary-list"><li><keyword id="11915967" type="UNKNOWN" weightage="60" keywordseo="warren-buffett" source="Orion">Warren Buffett</keyword>'s great-nephew completed the acquisition of a private-hangar specialist this week.</li><li><keyword id="13037182" type="UNKNOWN" weightage="60" keywordseo="alex-buffett-rozek" source="Orion">Alex Buffett Rozek</keyword> praised <keyword id="13037184" type="UNKNOWN" weightage="60" keywordseo="sky-harbour" source="Orion">Sky Harbour</keyword>'s competitive advantages and management team.</li><li>Buffett and Rozek look for similar qualities in the businesses they buy.</li></ul>Warren Buffett's great-nephew appears to share the billionaire investor's taste in businesses, appetite for acquisitions, and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-private-jet-plane-purchase-indefensible-indispensable-2021-10">passion for private jets</a>.Buffett's <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> owns NetJets, which sells fractional ownership of private planes. Alex Buffett Rozek's <a href="https://markets.businessinsider.com/stocks/ysac-stock">Yellowstone Acquisition Company</a> completed its merger with Sky Harbour, which develops and leases private hangars for business and personal jets, <a href="https://www.businesswire.com/news/home/20220125006178/en/Yellowstone-Acquisition-Company-and-Sky-Harbour-LLC-Announce-Closing-of-Business-Combination">earlier this week</a>.Rozek is the grandson of Buffett's late sister, Doris. He runs a Berkshire-esque holding company named Boston Omaha, which has interests in advertising, insurance, and broadband internet.Rozek and his partner, Adam Peterson, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-great-nephew-joins-spac-boom-raising-150-million-2020-10-1029710459">took Yellowstone public</a> as a special-purpose acquisition company (SPAC) in October 2020. Their goal was to find a high-quality business and merge with it, giving it a stock-market listing without the need for an initial public offering (IPO).The pair were partly drawn to Sky Harbour because they like infrastructure businesses, they said in a <a href="https://www.businesswire.com/news/home/20210802005439/en/Sky-Harbour-LLC-a-Developer-of-Private-Aviation-Infrastructure-to-Become-a-Public-Company-Through-a-Combination-with-Yellowstone-Acquisition-Company">press release</a> announcing the deal last August. They were also impressed by its cost advantages, scalability, executive team, and its sector's high barriers to entry.Several of Berkshire's businesses are involved in infrastructure, including the Burlington Northern railway and <keyword id="11915968" type="UNKNOWN" weightage="60" keywordseo="berkshire-hathaway" source="Orion">Berkshire Hathaway</keyword> Energy. Moreover, Buffett has repeatedly trumpeted the <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-dream-business-is-sees-candies-2019-7-1029916323">power of brands such as See's Candies</a> as "moats" to stave off competition, underlined Geico's lower costs relative to its peers, and emphasized the critical importance of management.It's clear that Buffett and Rozek share more than a bloodline. They're both drawn to businesses with physical operations instead of digital ones, and evaluate similar attributes when judging companies.However, Rozek may be having <a href="https://www.businessinsider.com/warren-buffett-80-billion-headache-dilemma-expensive-stocks-businesses-deals-2021-5?r=US&amp;IR=T">more luck on the dealmaking front than Buffett</a> because he's shopping for much smaller businesses, and seems less concerned about their profitability.Sky Harbour grew its revenue by 87% year-on-year to $784,000 in the first half of 2021, but a surge in its overheads and operating costs meant its net loss more than quadrupled to $4.8 million, <a href="https://www.sec.gov/Archives/edgar/data/0001823587/000143774921024148/ysac20211019_prem14a.htm#skybal">Securities and Exchange Commission filings show</a>.Read more: <a href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-apple-luxury-brands-stocks-experts-outlook-2022-1?IR=T&amp;r=US&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">Warren Buffett is ready to deploy $80 billion if the market crashes this year. 7 experts say the investor should trim his Apple stake, acquire luxury brands, or buy some blue-chip stocks in the meantime.</a>

Warren Buffett's great-nephew just completed a SPAC deal. He clearly shares the billionaire investor's taste in businesses.

<ul><li>Warren Buffett's great-nephew took his "blank-check" company public on Thursday.</li><li><keyword id="10153316" type="UNKNOWN" weightage="60" keywordseo="alex-buffett-rozek">Alex Buffett Rozek</keyword>, the grandson of Warren's late sister Doris Buffett, is the co-CEO and co-chairman of <keyword id="10153314" type="UNKNOWN" weightage="60" keywordseo="boston-omaha-corporation">Boston Omaha Corporation</keyword>.</li><li>Boston Omaha formed <keyword id="10153315" type="UNKNOWN" weightage="60" keywordseo="yellowstone-acquisition-company">Yellowstone Acquisition Company</keyword>, a "<keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword>" or investment vehicle that raises money on public <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> to <keyword id="25455" type="ORGANIZATION" weightage="60" keywordseo="finance">finance</keyword> a future acquisition, and hopes to raise $150 million from its market debut.</li><li>Rozek and his business partner will use the funds to target a company in the homebuilding, homebuilding-related manufacturing, financial services, or commercial real estate industries.</li><li><a href="https://www.businessinsider.com/international">Visit Business Insider's homepage for more stories</a>.</li></ul>Warren Buffett's great-nephew took his "blank-check" company public on Thursday, joining the likes of billionaire investors <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-spac-psth-pershing-tontine-targets-buy-blank-check-2020-10-1029665772#">Bill Ackman</a> and <a href="https://markets.businessinsider.com/news/stocks/social-capital-spac-ipoc-clover-health-deal-chamath-palihapitiya-merger-2020-10-1029652323">Chamath Palihapitiya</a> in raising money to make a future, as-yet-unknown acquisition.Alex Buffett Rozek, the grandson of Warren's late sister Doris Buffett, is the co-chairman and co-CEO of <a href="https://markets.businessinsider.com/stocks/bomn-stock">Boston Omaha Corporation</a>. Boston Omaha is a holding company with some similarities to Buffett's <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> conglomerate, as it has business interests across the advertising, insurance, and broadband-internet industries.Read More: <a href="https://www.businessinsider.com/investing-trading-strategy-jim-rogers-8-rules-for-big-returns-2020-10" target="_blank" rel="noopener noreferrer">Market wizard Jim Rogers started trading with $600 and now has a reported net worth of $300 million. He shares the 8 trading rules that ensured his success.</a>Boston Omaha formed Yellowstone Acquisition Company — a special-purpose acquisition company or "SPAC" — and filed to take it public in early September. It initially hoped to raise $200 million, but ultimately cut its target to $150 million. Yellowstone's shares <a href="https://www.sec.gov/Archives/edgar/data/1823587/000121390020032428/0001213900-20-032428-index.htm">began trading on Thursday</a>.Rozek and his co-chairman and co-CEO, Adam Peterson, plan to use the listing proceeds to acquire a business in the homebuilding, homebuilding-related manufacturing, financial services, or commercial real estate industries.The pair may be seeking to emulate Rozek's great-uncle, who has made scores of lucrative deals during his career. Some of the Berkshire chief's most famous ones include his <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-goldman-sachs-sale-billions-return-bailout-2020-5-1029212109#">bailouts of Goldman Sachs</a>, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-invested-3-billion-general-electric-ge-2008-crisis-2020-6-1029327040#">General Electric</a>, and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-invested-5-billion-bank-of-america-made-fortune-2020-10-1029690339#:~:text=to%20BI%20Prime-,Warren%20Buffett%20plowed%20%245%20billion%20into%20Bank%20of%20America%20during,a%20fortune%20in%20the%20process.&amp;text=Warren%20Buffett%20invested%20%245%20billion,cushion%20to%20the%20struggling%20lender.der.">Bank of America</a>, and his <a href="https://www.businessinsider.com/berkshire-hathaway-to-buy-precision-castparts-2015-8">$37 billion takeover of Precision Castparts</a>.Read More: <a href="https://www.businessinsider.com/stock-picks-to-buy-61-companies-upside-earnings-2021-ms-2020-10" target="_blank" rel="noopener noreferrer">MORGAN STANLEY: Buy these 61 stocks that will offer major earnings-driven upside following an imminent 10% market sell-off</a>Doris, Rozek's grandmother, is best known for dealing with the stream of letters seeking aid from her billionaire brother. She <a href="https://learningbygivingfoundation.org/blogs/lxg-team/alex-buffett-rozek">gifted more than $180 million</a> over the course of 25 years.Rozek helped his grandmother with her philanthropy, and continues to chair the boards of two foundations linked to her: Learning by Giving and the Letters Foundation.

Warren Buffett's great-nephew joins the SPAC boom by listing a $150 million blank-check company

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Warren Buffett's great-nephew just completed a SPAC deal. He clearly shares the billionaire investor's taste in businesses.

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Warren Buffett's great-nephew joins the SPAC boom by listing a $150 million blank-check company

Theron Mohamed

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