Berkshire Hathaway, led by Warren Buffett, has often ranked among the world’s largest companies by market capitalization.
The modern Berkshire Hathaway grew from a struggling textile manufacturer into a diversified holding company. Buffett began buying shares in the 1960s and eventually shifted the business toward insurance, investments, and ownership of operating companies.
Berkshire’s major businesses have included GEICO, BNSF Railway, Berkshire Hathaway Energy, and numerous manufacturing, retail, and service companies. Its insurance operations provide investment capital through premiums held before claims are paid, a structure known as insurance float.
Berkshire is unusual among very large public companies because it has historically paid no regular dividend. Investors often view its market capitalization as a reflection of its operating businesses, investment portfolio, financial strength, and Buffett’s capital-allocation record.