Which company did Warren Buffett lead after acquiring control of it in 1965?

Warren Buffett led Berkshire Hathaway after acquiring control of it in 1965.

Berkshire Hathaway began as a textile manufacturer formed through the 1955 merger of Berkshire Fine Spinning Associates and Hathaway Manufacturing Company. Buffett, who had invested in the struggling textile business, took control in 1965 and gradually shifted the company away from textiles toward insurance and investments.

Insurance became central because Berkshire could invest the premiums it held before paying claims. These funds are known as “float.” The company also acquired operating businesses in sectors such as railroads, utilities, manufacturing, and consumer products.

Berkshire is unusual among very large public companies because it has long emphasized retained earnings and decentralized subsidiaries rather than paying regular dividends. Buffett’s annual shareholder meeting in Omaha, Nebraska, is widely nicknamed “Woodstock for Capitalists.” Market value reflects investors’ assessment of this collection of businesses and investments.