Berkshire Hathaway, a major company by market cap, is led by Warren Buffett, the investor known as the “Oracle of Omaha.”
Buffett began buying shares in Berkshire Hathaway, then a struggling textile manufacturer, in the 1960s. He eventually transformed it into a diversified holding company whose businesses include insurance, railroads, utilities, manufacturing, retail, and energy.
Berkshire's insurance operations, especially GEICO and reinsurance businesses, are central to its financial model. Insurance premiums provide investable funds, often called “float,” while Berkshire also owns significant stakes in publicly traded companies.
Charlie Munger was Buffett's longtime business partner and Berkshire vice chairman, but he was not the person known as the Oracle of Omaha. The nickname refers to Buffett's long association with Omaha, Nebraska, and his reputation for value investing.