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ENTITY
🕰2 min read
🎵Wisdom Density:
Moderate
🧭7 concepts
💬1 quotes
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👤 Paul Arnold

📜 Profile

Paul Arnold is the CEO of CORT Business Services, the largest furniture rental company in the United States. He joined CORT in 1968 and rose through the ranks to lead the company as it became a dominant player in its niche.

🤝 Berkshire Connection

In early 2000, Berkshire Hathaway (via its subsidiary Wesco Financial Corporation) acquired CORT. Paul Arnold remained as CEO, continuing to lead the company with the same autonomy characteristic of all Berkshire subsidiaries.

📈 Management Style

  • Customer-Centric: Arnold is credited with building CORT's culture around the needs of people in transition.
  • Disciplined Growth: Under his leadership, CORT expanded through both organic growth and strategic acquisitions, always maintaining its focus on the "rent-to-rent" business model.

💡 Berkshire Context

Buffett and Munger frequently praise Paul Arnold for his competence and integrity. Because CORT is owned by Wesco, he worked closely with Charlie Munger, who serves as Wesco's Chairman. He represents the specialized, operational excellence Buffett looks for in a service-sector leader.

"Paul Arnold... has done a truly extraordinary job at CORT... it is a dominant business with a unique moat." — Warren Buffett, 2000