Which investment company led by Warren Buffett is famous for having never split its Class A shares?

Berkshire Hathaway is the investment company led by Warren Buffett that has never split its Class A shares.

Berkshire’s Class A stock became famous for its exceptionally high per-share price because the company has never split those shares. Buffett has argued that keeping the price high attracts long-term investors and discourages short-term trading. The company created lower-priced Class B shares in 1996, making ownership more accessible without changing the Class A structure.

Berkshire began as a Massachusetts textile manufacturer before Buffett and his investment partners transformed it into a diversified holding company. Its businesses include insurance, railroads, utilities, energy, manufacturing, and retail operations.

Market capitalization is based on all outstanding shares, so a high share price alone does not make Berkshire the largest company. Berkshire’s unusual share classes are instead a useful lesson in why per-share price and total market value are different measurements.