Berkshire Hathaway

Berkshire Hathaway is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. The company wholly owns GEICO, Duracell, Dairy Queen, BNSF Railway, and many others. It also has significant minority holdings in Pilot Flying J, Kraft Heinz Company, American Express, Wells Fargo, The Coca-Cola Company, Bank of America, and Apple Inc.. The company is known for its control and leadership by Warren Buffett, who serves as chairman and chief executive, and Charlie Munger, the company's vice chairman.

History

Berkshire Hathaway traces its roots to a textile manufacturing company established by Oliver Chace in 1839 as the Valley Falls Company in Valley Falls, Rhode Island. In 1929, the company merged with the Berkshire Cotton Manufacturing Company established in 1889, in Adams, Massachusetts. The combined company was known as Berkshire Fine Spinning Associates.

In 1962, Warren Buffett began buying stock in Berkshire Hathaway. After some clashes with the management, he took control of the company in 1965. Buffett initially maintained Berkshire's core business of textiles, but by 1967, he was expanding into the insurance industry and other investments.

Business activities

Berkshire Hathaway's core business is insurance, including property and casualty insurance, reinsurance, and specialty nonstandard insurance. The company oversees and manages a number of subsidiary companies. Berkshire Hathaway is also a major player in the public equity and fixed income markets.

Corporate affairs and culture

Berkshire Hathaway is known for its unique corporate culture. The company does not pay dividends to its shareholders. Instead, it reinvests the earnings in the company in areas where it believes long-term value can be created.

See also

• List of assets owned by Berkshire Hathaway
• Warren Buffett
• Charlie Munger