How Judd Zebersky Took Jazwares From Startup to Berkshire Portfolio
Berkshire Hathaway does not typically invest in toy companies, but Jazwares arrived in its portfolio through a particular chain of events. Alleghany Capital Corporation first took a stake in Jazwares in 2014 and acquired a majority interest in 2016. Both transactions allowed founder Judd Zebersky to retain control of day-to-day operations. When Berkshire acquired Alleghany in the fourth quarter of 2022, Jazwares came along with it, placing a company built by a former attorney into one of the most scrutinized corporate portfolios in the world.
The Founder’s Unconventional Path
Judd Zebersky earned a JD from the University of Miami School of Law and launched his own firm after passing the bar. Within a few years, he had made a different calculation. “I looked at my wife, and I said, ‘I want to make toys,'” Zebersky recalled. In 1997, he traveled to China and spent months learning manufacturing processes firsthand inside factories across the southern part of the country. Judd Zebersky absorbed injection molding, blow molding, rotocasting, and production engineering. The knowledge he gathered helped him build and recruit with specificity rather than guesswork.
Jazwares grew initially through licensed partnerships with entertainment brands tied to Minecraft, Sonic the Hedgehog, and Fortnite. Acquisitions of Wicked Cool Toys in 2019 and Kellytoy in 2020 expanded the company’s holdings, with Kellytoy introducing both Squishmallows and a Pokémon license.
Squishmallows and the Final Chapter
Squishmallows became one of the most visible toy brands in recent years after going viral on TikTok, attracting celebrity fans including Lady Gaga and Kim Kardashian, and selling over 100 million units in a single year at prices between $5 and $30. Jazwares landed on TIME’s Most Influential Companies list and earned recognition from Fast Company and Fortune. Judd Zebersky stepped down on March 20, 2026, ending nearly 30 years at the company. David Neustein assumed the CEO role on March 23, 2026. Refer to this article to learn more.
More about Judd Zebersky on https://jazwares.uk/about-us/leadership
