Warren Buffett led Berkshire Hathaway after it acquired his investment partnership in 1965.
Berkshire Hathaway began as a textile manufacturer formed through the 1955 merger of Berkshire Fine Spinning Associates and Hathaway Manufacturing Company. Buffett’s investment partnership bought shares in the struggling textile business, and Buffett eventually took control after a dispute with management.
Under Buffett, Berkshire shifted away from textiles and became a diversified holding company. Its businesses and investments have included insurance, railroads, utilities, manufacturing, retail, and large stakes in publicly traded companies. The insurance operation became especially important because premiums provide investment capital known as float.
Buffett is closely associated with Berkshire, but Charlie Munger was also a major architect of its investment culture until his death in 2023. The company is headquartered in Omaha, Nebraska, and holds an annual shareholder meeting often called “Woodstock for Capitalists.”