He Bought a Nearly Bankrupt Company From Warren Buffett for $1,000 and Turned It Into a $98 Billion Giant
In 1997, Intercontinental Exchange founder and CEO Jeffrey Sprecher bought the near-bankrupt Continental Power Exchange from Warren Buffett’s utility, MidAmerican Energy, for $1,000 and assumed its debt. ICE was founded in 2000 and later bought NYSE Euronext in 2013, making it the owner of the New York Stock Exchange; as of January 2026, ICE’s market […]
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In 1997, Intercontinental Exchange founder and CEO Jeffrey Sprecher bought the near-bankrupt Continental Power Exchange from Warren Buffett’s utility, MidAmerican Energy, for $1,000 and assumed its debt. ICE was founded in 2000 and later bought NYSE Euronext in 2013, making it the owner of the New York Stock Exchange; as of January 2026, ICE’s market […]
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