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35 Facts About Berkshire Hathaway
Berkshire Hathaway now owns a diverse range of businesses including confectionery, retail, railroads, home furnishings, encyclopedias, manufacturers of vacuum cleaners, jewelry sales, manufacture and distribution of uniforms, and several regional electric and gas utilities.
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Hathaway had been successful in its first decades, but it suffered during a general decline in the textile industry after World War I At this time, Hathaway was run by Seabury Stanton, whose investment efforts were rewarded with renewed profitability after the Great Depression.
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In 1962, Warren Buffett began buying stock in Berkshire Hathaway after noticing a pattern in the price direction of its stock whenever the company closed a mill.
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Berkshire Hathaway first ventured into the insurance business with the purchase of National Indemnity Company.
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Barron's said Berkshire Hathaway was the most respected company in the world in 2007, based on a survey of American money managers.
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In 2008, Berkshire Hathaway invested in preferred stock of Goldman Sachs as part of a recapitalization of the investment bank.
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Berkshire Hathaway has never split its Class A shares because of management's desire to attract long-term investors as opposed to short-term speculators.
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Current members of the board of directors of Berkshire Hathaway are Warren Buffett, Charlie Munger, Thomas S Murphy, Howard Graham Buffett, Ronald Olson, Charlotte Guyman, Chris Davis, Donald Keough, David Gottesman, Kenneth Irvine Chenault, Steve Burke, Susan Decker, Meryl Witmer, Ajit Jain, and Greg Abel.
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Five months later, Berkshire Hathaway announced that Todd Combs, manager of the hedge fund Castle Point Capital, would join them as an investment manager.
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Berkshire Hathaway offloaded most of its shares but held 472 thousand shares until 2012.
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Buffett frequently referred to Phillips 66 as one of the best businesses Berkshire Hathaway invested in because of its consistent dividends and share buyback programs.
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In 1996, Berkshire Hathaway acquired FlightSafety International Inc, founded in 1951 by Albert Lee Ueltschi.
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In 1998, Berkshire Hathaway acquired NetJets Inc, formerly Executive Jet Aviation.
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In May 2000, Berkshire Hathaway purchased Ben Bridge Jeweler, a chain of jewelry stores established in 1912 with locations primarily in the western United States.
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In November 2012, Berkshire Hathaway announced they would acquire the Oriental Trading Company, a direct marketing company for novelty items, small toys, and party items.
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In 1977, Berkshire Hathaway purchased the Buffalo Evening News and resumed publication of a Sunday edition of the paper that had ceased in 1914.
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In June 2012, Berkshire Hathaway purchased 63 newspapers from Media General, including the Richmond Times-Dispatch and Winston-Salem Journal, for $142 million in cash.
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In 2012, Berkshire Hathaway bought Texas dailies The Eagle in Bryan-College Station and the Waco Tribune-Herald.
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In late June 2017, Berkshire Hathaway indirectly acquired Home Capital Group Inc for $400 million giving lifeline to the Toronto-based embattled mortgage lender.
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In 2002, Berkshire Hathaway acquired Albecca Inc Albecca is headquartered in Norcross, Georgia, and primarily does business under the Larson-Juhl name.
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Berkshire Hathaway acquired Clayton Homes, a maker of modular homes, storage trailers, chassis, intermodal piggyback trailers and domestic containers.
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In 2006 Berkshire Hathaway acquired Russell Corporation for $600 million, in fact getting most shares and brands in many sports leagues – including Spalding NBA official basketballs, BIKE Athletic Company protections, AAI Gymnastics' tables, bars, rings, horses or Dudley softball balls and accessories.
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At the peak of the financial crisis in September 2008, Berkshire Hathaway invested $5 billion in preferred stock in Goldman Sachs to provide it with a source of funding when capital markets had become constrained.
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Alongside the preferred stock investment, Berkshire Hathaway obtained warrants allowing Berkshire Hathaway to buy 700 million common shares at $7.
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In 2008, Berkshire Hathaway purchased preferred stock in Wrigley, Goldman Sachs, and GE totaling $14.
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Berkshire Hathaway holds part of newspaper publisher Lee Enterprises after buying some of Lee's debt after its bankruptcy filing.
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In May 2016, it was revealed in a regulatory filing that Berkshire Hathaway had acquired a stake in Apple Inc The initial position was for 9.
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Berkshire Hathaway previously held a considerable stake in Tesco Plc, the UK grocery retailer.
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Berkshire Hathaway made an after-tax loss of $444 million on the Tesco investment.
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In 2022, Berkshire Hathaway disclosed that it has sold its remaining stakes with Wells Fargo during the first quarter.
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