Thursday, October 28, 2021

Nebraska billionaire, philanthropist Walter Scott 90 . died on

OMAHA, Neb.—Billionaire Walter Scott, Peter Kewitt & Sons Inc. The construction firm’s previous top executive, who helped oversee Warren Buffett’s group and donated to various causes, particularly construction projects around Omaha, has died. He was 90 years old.

The Suzanne and Walter Scott Foundation, which Scott founded, said Scott died on Saturday. The foundation did not specify the cause of death.

Scott served as a board member of Buffett’s Berkshire Hathaway Group from 1988 until his death, and even invested with Berkshire in the company’s utility and energy unit. Scott owned approximately 8 percent of Berkshire Hathaway Energy’s stock and 105 Class A Berkshire shares, with Buffett’s Berkshire holding nearly all of the rest.

Born in Omaha in 1931 and raised during the Great Depression, Scott spent his entire career working for Peter Kiewitt Sons Inc.—the Omaha-based construction company that builds major projects around the world. He worked his way up from overseeing construction projects in California and New York to become the company’s executive vice president in 1965.

“You can’t find a better model for a civilian than Walter Scott,” Buffett, a longtime friend, told the Omaha World-Herald on Saturday. “He was basically a builder, whether he was building kivits and material things or building his vision of Omaha or Nebraska. He was nonstop.”

When Peter Kiewitt died in 1979, Scott succeeded him as chairman and CEO and led the company until 1998. He also served as president of the Kivit spin-off, Level 3 Communications, until that firm was purchased in 2014.

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Scott’s accumulated wealth allowed him to become a philanthropist. Scott and his late wife Susan donated large sums of money to the University of Nebraska in Omaha, the University of Nebraska Medical Center and Colorado State University. One of the main buildings of UNMC’s new Fred and Pamela Buffett Cancer Center is called the Suzanne and Walter Scott Cancer Research Tower because of their donation.

Sections of the Joslin Art Museum and Holland Performing Arts Center in Omaha are also named in honor of Scots. Scott was also a longtime supporter of the famous Omaha Zoo, where the large aquarium is named in his and his wife’s honor.

Scott told the Omaha World-Herald that he intended to donate almost all of his personal assets to his private foundation, which supports projects in Omaha.

Scott told the World-Herald, “My children were taken care of long ago – whatever they make of their lives is now their own responsibility.” “Eventually, almost everything will go to the foundation, with the hope that it will benefit my hometown for many generations to come.”

Walter has been the director of several charitable and educational organizations and has served as chairman of the board of policy advisors for the Omaha Zoological Society, the Omaha Zoo Foundation, the Joslin Art Museum, the Horatio Alger Association, Heritage Services, and the Peter Kiewit Institute.

by Josh Funk

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This News Originally From – The Epoch Times

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