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Berkshire Hathaway

Berkshire Hathaway

Berkshire Hathaway is an american multinational conglomerate holding company founded in 1969 by Oliver Chace.

Berkshire Hathaway Inc. is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. The company wholly owns GEICO, Duracell, Dairy Queen, BNSF, Lubrizol, Fruit of the Loom, Helzberg Diamonds, Long & Foster, FlightSafety International, Pampered Chef, and NetJets, and also owns 38.6% of Pilot Flying J; 26.7% of the Kraft Heinz Company, and significant minority holdings in American Express (17.6%), Wells Fargo (9.9%), The Coca-Cola Company (9.4%), Bank of America (6.8%), and Apple (5.22%).

Since 2016, the company has acquired large holdings in the major US airline carriers, and is currently the largest shareholder in United Airlines and Delta Air Lines, and a top three shareholder in Southwest Airlines and American Airlines. Berkshire Hathaway has averaged an annual growth in book value of 19.0% to its shareholders since 1965 (compared to 9.7% from the S&P 500 with dividends included for the same period), while employing large amounts of capital, and minimal debt.

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. In the early part of his career at Berkshire, Buffett focused on long-term investments in publicly traded companies, but more recently he has more frequently bought whole companies. Berkshire now owns a diverse range of businesses including confectionery, retail, railroads, home furnishings, encyclopedias, manufacturers of vacuum cleaners, jewelry sales, newspaper publishing, manufacture and distribution of uniforms, and several regional electric and gas utilities. According to the Forbes Global 2000 list and formula, Berkshire Hathaway is the third largest public company in the world, the tenth largest conglomerate by revenue and the largest financial services company by revenue in the world.

Berkshire is currently the seventh largest company in the S&P 500 Index by market capitalization, and is famous for having the most expensive share price in history with a Class A share costing around $300,000 each. This is due to the fact that there has never been a stock split and Buffett has stated in a 1984 letter to shareholders that he does not intend to do so.

Timeline

April 30, 2019
Berkshire Hathaway committed $10 billion to help Occidental Petroleum compete in a bidding war for Anadarko Petroleum.

People

Name
Role
LinkedIn

Ajit Jain

Vice Chairman - Insurance Operations

Charles Munger

Vice Chairman

Derrick Brieva

Employee

Gregory Abel

Vice Chairman - Non Insurance Operations

Ted Weschler

Investment Manager

Todd Combs

Investment Manager

Warren Buffett

Chairman & Chief Executive Officer

Further reading

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Documentaries, videos and podcasts

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Companies

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News

Title
Author
Date
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Description
Theron Mohamed
May 11, 2021
Business Insider
Buffett is worried about newbie investors, sees 'big tech' as cheap with interest rates so low, and can't find bargains easily, experts say.
May 6, 2021
mint
Shareholder proposals highlight tensions between asset managers promoting ESG disclosures and executives who are pushing back
Matthew Fox
May 6, 2021
markets.businessinsider.com
Berkshire Hathaway is the only stock close to hitting Nasdaq's upside limit, due in-part to CEO and Chairman Warren Buffett's refusal to split it.
Matthew Fox
May 6, 2021
Business Insider
Berkshire Hathaway is the only stock close to hitting Nasdaq's upside limit, due in-part to CEO and Chairman Warren Buffett's refusal to split it.
Theron Mohamed
May 6, 2021
markets.businessinsider.com
The famed investor's company could easily afford Twitter, Chipotle, Ford, eBay, and other blue-chip companies.
Theron Mohamed
May 5, 2021
markets.businessinsider.com
The famed investor's company has already spent about $8 billion on share repurchases this year, after $6.6 billion in buybacks last quarter.
Theron Mohamed
May 5, 2021
markets.businessinsider.com
Buffett highlighted inflation, admitted he was probably wrong to trim Apple and sell Costco, and revealed he made some questionable stock purchases.
May 4, 2021
The Economic Times
Buffett and his board opposed two shareholder resolutions at Berkshire Hathaway's annual shareholder meeting last week that called for annual reports on how its companies are responding to the challenge of climate change, as well as reports on diversity and inclusion in the workplace.
Theron Mohamed
May 4, 2021
markets.businessinsider.com
Warren Buffett and Charlie Munger. REUTERS/Rick Wilking Charlie Munger tore into bitcoin, Robinhood, and SPACs at Berkshire Hathaway's annu...
Theron Mohamed
May 4, 2021
markets.businessinsider.com
The billionaire investor revealed that his business partner, Charlie Munger, advised him against cashing out Apple and Costco stock.
Andrew Ross Sorkin, Jason Karaian, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch and Ephrat Livni
May 4, 2021
www.nytimes.com
The split of Bill and Melinda Gates raises questions about the fate of their vast fortune.
Brent D. Griffiths
May 4, 2021
Business Insider
And Rep. Liz Cheney is in hot water with some fellow Republicans, again.
BBC News
May 4, 2021
BBC News
Company's vice-chairman Greg Abel will take over, but Mr Buffett has no plans to step aside.
Edward Helmore in New York
May 3, 2021
the Guardian
Billionaire, 90, lets slip plan for vice-chairman to take over at $644bn investment group
Matthew Fox
May 3, 2021
markets.businessinsider.com
US stocks were mixed on Monday as investors await another big week of corporate earnings from companies like General Motors and PayPal.
Michael J. de la Merced
May 3, 2021
www.nytimes.com
May 3, 2021
WebWire
By opposing a popular shareholder resolution seeking a yearly detailed report on the climate risks and opportunities the diversified company faces, Berkshire Hathaway management ignores a systemic risk looming over all businesses, said Dan Bakal, Senior Director of Electric Power at Ceres, the sustainability nonprofit. "Climate change poses fundamental risks for businesses and the economy and in opposing this resolution, Berkshire Hathaway fails to address them," Bakal, said. "The co...
Matthew Fox
May 3, 2021
markets.businessinsider.com
US stocks jumped on Monday to near record levels as investors braced for another busy week of corporate earnings.
Carla Mozée
May 3, 2021
markets.businessinsider.com
Berkshire Hathaway's Greg Abel. Greg Abel, in this April 30, 2010 photo, is seen in Omaha, Neb. Vice Chairman Charlie Munger added his own l...
CNN
May 3, 2021
CTVNews
Warren Buffett said Monday that Greg Abel, the head of Berkshire Hathaway's non-insurance business, will be his successor -- although Buffett gave no indication that he will give up the top job at the conglomerate anytime soon.
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References

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