Berkshire Hathaway Inc.
| Berkshire Hathaway Inc. | |
| |
| Founded | 1955 |
|---|---|
| Headquarters | Omaha, Nebraska |
| Key People | Warren Buffett |
| Website | www.berkshirehathaway.com |
Berkshire Hathaway Inc. is a conglomerate holding company. Its chairman and CEO is the famed investor Warren Buffett. Berkshire Hathaway was ranked #2 in Forbes' "Top 20 Most Admired Companies" in 2008.[1]
As the U.S. economy reeled from the credit crisis in 2008, Berkshire Hathaway made a $5 billion investment into Goldman Sachs. Soon after, it made a $6 billion investment into General Electric.[2]
In August of 2011, it was announced that famed investor Warren Buffett's company Berkshire Hathaway would invest $5bn (£3.1bn) in Bank of America. News of the decision sent Bank of America's shares more than 25 percent higher.[3]
History[edit]
The merger of the Berkshire Fine Spinning Associates and Hathaway Manufacturing Company in the 1950s created the company that today is Berkshire Hathaway. Warren Buffett has been its CEO and Chairman for more than fifty years. The modern history of the company begins in 1963, when Warren Buffett and his associates became the largest shareholders. He changed the core business of the company from textile manufacturing to insurance in 1967. [4]. The company has since become a major investment and holding company, worth $358 billion (as of February 1st, 2015). [5] The company's major acquisitions include Helzberg Diamonds, GEICO, and Dairy Queen.[6] Other notable acquisitions include Fruit of the Loom, Forest River, and 50% of H.J. Heinz & Co.[7]
In The News[edit]
On April 20th, 2015 the Bank of England wrote the US Treasury Department over the exclusion of Berkshire Hathaway's reinsurance operation, General Reinsurance Corporation (marketed as Gen Re), was left off of a list of too big to fail companies. Gen Re was ranked 6th among re-insurers by gross premiums written.[8]
Products and Services[edit]
- Insurance
- Building Materiel Manufacturing
- Retail
- Luxury Goods
- Recreational Vehicle Manufacturing
- Food Service
- Textile Manufacturing
- Consumer Goods
- Railroad Transportation
Key People[edit]
- Warren Buffett, CEO and Chairman
Resources[edit]
Berkshire Hathaway Subsidiary Companies[edit]
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References[edit]
- ↑ America's Most Admired Companies. Forbes.
- ↑ Berkshire deal shows pressure on GE. FT.com.
- ↑ Warren Buffett invests $5bn in Bank of America. BBC.
- ↑ Where Does The Name Berkshire Hathaway Come From. Dividend.com.
- ↑ Warren Buffett: Know when to hold ’em. Financial Times.
- ↑ Berkshire Hathaway Acquisitions. Investing Values.
- ↑ Berkshire Hathaway Acquisitions. Investing Values.
- ↑ British regulator challenges US over Berkshire scrutiny. Financial Times.