Who Owns Tootsie Roll Company

So, you're wondering who owns the Tootsie Roll Company, huh? Well, buckle up, buttercup, 'cause we're about to dive into a world of chocolatey goodness, corporate shenanigans, and a dash of history that'll make you say, "Who knew?!"

Once Upon a Time in Austria...

Let's rewind to the 19th century, when a certain Austrian confectioner named Leo Hirshfield decided to create a new kind of candy. He wanted something that would melt in your mouth, not in your hands (sorry, M&M's, you're not the only ones with a catchy slogan).

And thus, in 1896, the Tootsie Roll was born. But it wasn't called Tootsie Roll back then. No, no, that would've been too easy. It was originally named 'Tootsie Rolls' - yes, with an 's' at the end. Because, you know, why not?

An American Dream

Fast forward to 1898, when Hirshfield moved to New York and started churning out these chewy, chocolatey delights. Americans went nuts for them (pun intended), and soon enough, the Tootsie Roll became an American icon.

But here's where things get interesting. In 1922, Hirshfield sold the rights to the Tootsie Roll recipe to an American company called The Sweets Company of America. And who owned that company, you ask? None other than the enigmatic and eccentric Melvin H. Grossman.

Enter: Melvin H. Grossman

Grossman was a man of many hats - literally. He was a candy maker, a businessman, and a bit of a showman. He was also known for his love of hats, often wearing a different one each day. But don't let his quirky fashion sense fool you - he was a shrewd businessman.

He renamed the company 'Tootsie Roll Industries' in 1931, and under his leadership, the Tootsie Roll became a staple in American pop culture. It was the candy of choice for soldiers in World War II, and it even made an appearance in the 1950s TV show 'Leave It to Beaver'.

The Illustrated History of Tootsie Rolls

From Grossman to the Berkshire Hathaway

Now, here's where things get a bit tricky. In 1988, Grossman passed away, leaving behind a company that was struggling a bit. Enter: a man named Bruce W. Berkowitz. He was a hedge fund manager who saw potential in the Tootsie Roll Company.

Berkowitz bought a significant stake in the company and eventually became its chairman. But here's the twist: he didn't buy the company for himself. No, no, he bought it for someone else. Someone you might have heard of - Warren Buffett.

That's right, folks. The Oracle of Omaha himself now owns a significant chunk of the Tootsie Roll Company. But don't worry, Buffett's not running the show. He's just a silent partner, enjoying his chocolatey dividends from the shadows.

And the Rest is History...

So there you have it, the not-so-secret story of who owns the Tootsie Roll Company. From an Austrian confectioner to an American businessman to a legendary investor, the Tootsie Roll has had quite the journey.

And the best part? You can still enjoy a Tootsie Roll today, knowing that it's not just a delicious treat, but a piece of American history. Just don't ask Warren Buffett for one - he's probably hoarding them all.