Berkshire Hathaway is the investment company led by Warren Buffett for decades and listed in Fortune's history as the successor to a textile business.
Berkshire Hathaway was formed in 1955 through the merger of Hathaway Manufacturing Company and Berkshire Fine Spinning Associates, both textile businesses. Warren Buffett began buying shares in 1962 and eventually gained control, shifting the company's strategy away from textiles toward insurance and investments.
Today, Berkshire owns operating businesses such as GEICO, BNSF Railway, and Berkshire Hathaway Energy, as well as substantial stakes in publicly traded companies. Its annual shareholder meeting in Omaha, Nebraska, is often called the “Woodstock for Capitalists.”
Berkshire Hathaway is not simply a mutual fund. It is a publicly traded holding company with wholly owned subsidiaries, equity investments, and significant insurance operations. Its high share price also makes its market value distinct from its per-share price.