35 Facts About Berkshire Hathaway


Berkshire Hathaway Inc is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States.

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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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In 1955, Berkshire Fine Spinning Associates merged with the Hathaway Manufacturing Company which had been founded in 1888 in New Bedford, Massachusetts, by Horatio Hathaway with profits from whaling and the China Trade.

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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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Berkshire Hathaway Energy's HomeServices of America is a residential real estate brokerage firm based in Minneapolis, Minnesota, and founded in 1998.

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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 McLane Company, Inc, in May 2003 from Walmart, which brought on other subsidiaries such as Professional Datasolutions, Inc, and Salado Sales, among others.

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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 2017, Berkshire Hathaway was the largest shareholder in United Airlines and Delta Air Lines and a top 3 shareholder in Southwest Airlines and American Airlines.

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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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