Berkshire Hathaway is the investment conglomerate famous for its insurance businesses and large portfolio of public-company shares.
Warren Buffett has led Berkshire Hathaway since 1965, when he took control of the struggling textile company and gradually transformed it into a diversified holding company. Berkshire now owns businesses in insurance, railroads, utilities, energy, manufacturing, and retail.
Its insurance operations, including GEICO and reinsurance businesses, provide a major source of investable funds known as “float.” Berkshire has also held significant investments in companies such as Coca-Cola, American Express, and Apple, though its portfolio changes over time.
Unlike most large public companies, Berkshire has Class A shares with an exceptionally high individual share price and Class B shares with reduced economic and voting rights. Market capitalization includes both share classes, not merely the quoted price of one share.