Berkshire Hathaway is the multinational conglomerate led for decades by investor Warren Buffett and based in Omaha, Nebraska.
Berkshire began as a textile manufacturer formed through the 1955 merger of Berkshire Fine Spinning Associates and Hathaway Manufacturing Company. Buffett began buying shares in the 1960s and eventually shifted the business away from textiles toward insurance and investments. The textile operations were later closed, while the corporate name remained.
The company owns or holds interests in businesses including GEICO, BNSF Railway, Berkshire Hathaway Energy, and numerous consumer brands. Insurance is central because premiums provide funds that can be invested, a structure often called an insurance float. Berkshire’s Class A shares are famous for their exceptionally high per-share price, while Class B shares provide a more accessible alternative. Buffett became chairman and chief executive, and Greg Abel was designated as his successor for the CEO role.