‘Making Money’ host Charles Payne reflects on Warren Buffett’s annual shareholder note where he praised Charlie Munger.
Berkshire Hathaway is an American holding company based in Omaha, Nebraska, led by investor Warren Buffett.
Buffett helped turn the company around when he gained control in 1965. It has turned into a holding company with a large hand in several Fortune 500 companies, including Apple and Coca-Cola.
Read more about Berkshire Hathaway and how it got its start below.
Berkshire Hathaway has been owned by Warren Buffett since 1965. (Daniel Zuchnik/WireImage I Michael Nagle/Bloomberg via / Getty Images)
- How did Berkshire Hathaway get its start?
- What companies are owned by Berkshire Hathaway?
- What is Berkshire Hathaway best known for?
1. How did Berkshire Hathaway get its start?
Berkshire Hathaway actually began as two Massachusetts-based textile firms. Berkshire Fine Spinning Associates and Hathaway Manufacturing Company, according to Investopedia.
These two companies merged in 1955 to create Berkshire Hathaway.
In 1962, Buffett Partnership Limited (BPL), an investment group led by Buffett, began purchasing shares of Berkshire Hathaway at a price of $7.50 per share, according to Britannica Money.
Warren Buffett has grown Berkshire Hathaway into a massive holdings company with a diverse portfolio. (Paul Morigi/for Fortune/Time Inc / Getty Images)
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In 1965, Buffett had bought enough shares to gain control of Berkshire Hathaway.
In 1978, Charles “Charlie” Munger joined Berkshire Hathaway as its vice chairman. He held this role until his passing in November 2023.
Buffett and Munger worked together, using the technique of buying undervalued businesses and turning them around to build Berkshire Hathaway’s fortune.
Charles “Charlie” Munger, right, was vice chairman of Berkshire Hathaway until his death in 2023. (Johannes Eisele/AFP via / Getty Images)
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2. What companies are owned by Berkshire Hathaway?
Over the years, Berkshire Hathaway’s portfolio has grown greatly.
Berkshire Hathaway owns companies across industries, including energy, utilities, transportation, manufacturing, retail and insurance. An example of a company that Berkshire Hathaway owns is the insurance company GEICO.
Additionally, Berkshire Hathaway has large investments in several massive companies.
One of the companies that Berkshire Hathaway has major holdings in is Apple. (Faris Hadziq/SOPA Images/LightRocket via / Getty Images)
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Companies that Berkshire Hathaway has major holdings in include Apple, Bank of America, American Express Company, Chevron, The Kraft Heinz Company and Coca-Cola.
3. What is Berkshire Hathaway best known for?
Buffett is one of the most successful investors in the world.
Berkshire Hathaway is known for its diverse portfolio, with many investors keeping an eye on the stocks that Buffett buys and sells.
Not only is Berkshire Hathaway known for its diverse portfolio, but it is also the world’s most expensive stock.
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Berkshire Hathaway’s Class A stock is priced at about $686,000 a share, as of September 2024, according to US News Money.
