Berkshire Hathaway, led for decades by Warren Buffett, became one of the world's most valuable companies by market capitalization.
Berkshire began as a New England textile manufacturer, but Buffett and his investment partners gradually transformed it into a diversified holding company. Its businesses now include insurance, railroads, utilities, energy, manufacturing, and consumer brands.
The company's insurance operations, especially GEICO and Berkshire Hathaway Reinsurance Group, provide investment capital known as “float.” Berkshire uses that capital alongside shareholder equity to acquire businesses and investments.
Berkshire's Class A shares are famous for their very high per-share price because the company has never carried out a conventional split of that class. Class B shares, introduced in 1996, are much more affordable and carry fewer voting rights.