Warren Buffett acquired control of Berkshire Hathaway in 1965 and built it into a major market-cap conglomerate.
Buffett began buying shares of Berkshire Hathaway, then a struggling textile manufacturer, and took control of the company in 1965. He eventually shifted its focus away from textiles and toward insurance, investments, and ownership of operating businesses.
Berkshire’s insurance operations became central to its growth. Insurance premiums provide investable funds known as “float,” and Berkshire used that capital alongside its retained earnings to buy companies and securities. Its major holdings and subsidiaries have included GEICO, BNSF Railway, and many consumer and industrial businesses.
Berkshire is unusual among the world’s most valuable public companies because it has historically avoided stock splits for its Class A shares. The extremely high price of one Class A share is not the same thing as market capitalization, which depends on the value of all shares combined.