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Berkshire Hathaway

American multinational conglomerate holding company

Berkshire Hathaway, founded in 1839, is led by Warren Buffett and Charlie Munger. It primarily operates in insurance and has diverse subsidiaries in various sectors. Known for value investing, the company's book value has grown significantly under their leadership. Berkshire Hathaway is a major player in the S&P 500 index and owns significant stakes in companies like GEICO, Gen Re, and Kraft Heinz.

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Charlie MungerHedge FundBridgewater AssociatesBen BernankeBenjamin GrahamElizabeth WarrenBill AckmanBlackstone Inc.Carl IcahnBloomberg L.P.

Timeline

1965-05
Warren Buffett Becomes Chairman
In May 1965, Warren Buffett took over as the chairman of Berkshire Hathaway, leading it to become a major investment company.
1961
Business Wire
Business Wire is a company providing press release distribution services, acquired by Berkshire Hathaway.
1967
Berkshire Hathaway acquires insurance operation
In 1967, Berkshire Hathaway acquired two small Omaha insurance companies, National Indemnity and National Fire & Marine, for $8.5 million, which had $17.3 million in float. This acquisition marked the beginning of Berkshire's venture into super catastrophe insurance.
1968
Berkshire Hathaway buys into National Indemnity Insurance and National Fire and Marine Insurance Company
In 1968, Berkshire Hathaway made acquisitions by buying into National Indemnity Insurance and National Fire and Marine Insurance Company for $8.6 million. This expansion marked a strategic move in the insurance sector.
1970-05-29
Berkshire Hathaway listed on NYSE
On May 29, 1970, Berkshire Hathaway was listed on the New York Stock Exchange (NYSE), marking a significant milestone in its history.
1978
Berkshire invests in ABC Broadcasting and SAFECO
In 1978, Berkshire Hathaway made investments in ABC Broadcasting, a TV network, and SAFECO, an insurance company.
1980
Berkshire continues buying stock in various companies
In 1980, Berkshire Hathaway expanded its stock portfolio by acquiring shares in RJ Reynolds, ALCOA, Cleveland-Cliffs Iron, Pinkerton, National Detroit, Times Mirror, and National Student Marketing.
1981
Berkshire buys Arcata and GATX
In 1981, Berkshire Hathaway acquired Arcata and GATX, expanding its portfolio into forest products/paper and machinery sectors.
1982
Berkshire buys GATX and Arcata
In 1982, Berkshire Hathaway acquired GATX, a machinery company, and Arcata, a company specializing in forest products and paper.
1986
Berkshire's Acquisitions of Scott and Fetzer, Beatrice, and Fechheimer Brothers
In 1986, Berkshire Hathaway acquired Scott and Fetzer (Kirby vacuums and World Book Encyclopedia), Beatrice (Food), and Fechheimer Brothers (Uniforms), leading to the closure of its textile business.
1988
Berkshire Hathaway purchases Coca-Cola
In 1988, Berkshire Hathaway acquired Coca-Cola, even though it was considered fully valued at the time. This investment has since yielded significant returns.
1989
To the Shareholders of Berkshire Hathaway, 1989
Berkshire Hathaway released its annual letter to shareholders in 1989.
1990
Average Float Growth of Berkshire Hathaway
From 1990, the average float of Berkshire Hathaway has more than doubled, increasing from $1.6 billion to $3.8 billion. This growth has contributed to Berkshire becoming the second-best capitalized insurance company in the U.S.
1995-10
Use of Other People's Money (OPM) by Berkshire Hathaway
Berkshire Hathaway utilized $13.4 billion of essentially interest-free, borrowed money, in addition to shareholders' equity, to invest in assets. This strategy allowed for leverage without the risks associated with traditional margin trading.
1996
GEICO becomes a wholly owned subsidiary of Berkshire Hathaway
In 1996, GEICO was acquired by Berkshire Hathaway and became a fully owned subsidiary under the leadership of Warren Buffett, a renowned investor. Berkshire's property-casualty insurance operation has been recognized as the most admired in the country by Fortune magazine.
1997
Berkshire Acquires Star Furniture, International Dairy Queen, and Invests in Travelers
During 1997, Berkshire Hathaway acquired Star Furniture and International Dairy Queen, both restaurant chains, and also made investments in Travelers, an insurance company. Additionally, Warren Buffett made an investment mistake in US Airways.
1998
Berkshire Purchases General Re and Executive Jet (NetJets)
In 1998, Berkshire Hathaway purchased General Re, an insurance company, and Executive Jet, an aviation company which was later renamed NetJets.
2000
Berkshire Acquires Ben Bridge, CORT, and Justin Industries
In 2000, Berkshire Hathaway acquired Ben Bridge, a jewelry company, CORT, a national furniture rental company, and Justin Industries, specifically Acme Building.
2003
Clayton Homes
Clayton Homes is a manufactured housing company acquired by Berkshire Hathaway.
2004
Berkshire Hathaway acquires McLane, Clayton Homes, and Burlington Industries
In 2004, Berkshire Hathaway, a multinational conglomerate led by Warren Buffett, acquired McLane, Clayton Homes, and Burlington Industries. McLane is a wholesale distributor, Clayton Homes is involved in the housing sector, and Burlington Industries is known for being one of the world's most diversified marketers and manufacturers of soft goods for apparel and interior furnishings.
2005
Berkshire Hathaway records gain despite Hurricane Katrina losses
Despite facing insurance business losses of around $2.5 billion due to Hurricane Katrina in 2005, Berkshire Hathaway managed to record a gain of $5.6 billion. This resilience showcased the company's financial strength and risk management capabilities.
2006-10-23
Berkshire's shares closed over $100,000 for the first time
On October 23, 2006, Berkshire's shares closed over $100,000 for the first time, marking a significant milestone in the company's stock value.
2008
Berkshire Hathaway Acquisition of Marmon Holdings
In 2008, Berkshire Hathaway acquired Marmon Holdings, a diversified industrial company with a wide range of manufacturing and service businesses.
2009-11-03
Berkshire Hathaway's Acquisition of Burlington Northern Santa Fe Corporation
On November 3, 2009, Berkshire Hathaway announced that using stock and cash totaling $26 billion, it would acquire the remaining 77.4 percent of the Burlington Northern Santa Fe Corporation, parent of BNSF Railway, that it did not already own. This was the largest acquisition to date in Berkshire's history.
2010
BNSF
BNSF Railway is one of the largest freight railroad networks in North America, owned by Berkshire Hathaway.
2011
Berkshire Hathaway Acquisition of Lubrizol Corporation
In 2011, Berkshire Hathaway acquired Lubrizol Corporation, a specialty chemical company, marking a significant investment in the chemical industry.
2011-03-14
Berkshire Hathaway's Acquisition of Lubrizol Corporation
On March 14, 2011, Berkshire Hathaway announced that it would acquire the Lubrizol Corporation for $9 billion in cash, a deal that was described as one of the largest deals ever for Berkshire Hathaway.
2011-03-25
Berkshire Hathaway's Entry into the Indian Insurance Sector
On March 25, 2011, Berkshire Hathaway made its first foray into the Indian insurance sector with its non-direct subsidiary BerkshireInsurance.com.
2011-08-26
Berkshire Hathaway's Investment in Bank of America
On August 26, 2011, Berkshire Hathaway purchased $5 billion of preferred shares in Bank of America, with an annual interest cost of 6% earning Berkshire $300 million in annual interest. Alongside the preferred stock investment, Berkshire obtained warrants allowing Berkshire to buy 700 million common shares at $7.14 per share any time before September 2, 2021.
2013-02-14
Berkshire Hathaway Inc and 3G Capital's Purchase of H.J. Heinz Co.
On February 14, 2013, Berkshire Hathaway Inc and 3G Capital announced plans to purchase H.J. Heinz Co. for $72.50 per share or $28 billion including debt.
2014
Duracell
Duracell, a manufacturer of batteries and smart power systems, was acquired by Berkshire Hathaway.
2015-08-10
Berkshire Hathaway's Acquisition of Precision Castparts Corp.
On August 10, 2015, the boards of directors of Berkshire Hathaway Inc. and Precision Castparts Corp. unanimously approved a definitive agreement for Berkshire Hathaway to acquire, for $235 per share in cash, all outstanding PCC shares.
2016-07-13
Buffett's ownership of Berkshire's shares
As of July 13, 2016, Warren Buffett owned 31.7% aggregate voting power of Berkshire's shares outstanding and 18.0% of the economic value of those shares, demonstrating his significant influence and control within the company.
2019-05-02
Berkshire Hathaway's Investment in Amazon.com Inc.
On May 2, 2019, Warren Buffett announced that one of Berkshire's investment managers had been purchasing Amazon shares.
2021
Berkshire Hathaway Becomes World Leader in Insurance Float
In 2021, Berkshire Hathaway's wholly-owned subsidiary insurance companies have made the company the world leader in insurance float, which refers to the money from insurance premiums that can be invested for their own benefit before paying it back on claims.
2021-05-01
Greg Abel Likely Successor to Warren Buffett
Vice Chair Charlie Munger unofficially announced on May 1, 2021 that Greg Abel, CEO of Berkshire Hathaway Energy, is likely to succeed Warren Buffett as CEO of Berkshire Hathaway. No specific succession date was suggested.
2021-05-03
Greg Abel Chosen as Successor as CEO
On May 3, 2021, Warren Buffett announced that Greg Abel would be his successor as CEO of Berkshire Hathaway, marking a pivotal moment in the company's leadership transition.
2022-01-05
Berkshire's Class A shares sold for $465,725
On January 5, 2022, Berkshire's Class A shares were sold for $465,725, making them the highest-priced shares on the New York Stock Exchange. This is due to the fact that they have never had a stock split and have only paid a dividend once since Warren Buffett took over, retaining corporate earnings on its balance sheet in a manner impermissible for mutual funds.
2022-02-26
Berkshire Hathaway's Earnings Preview
Important information that needs to be known ahead of Berkshire Hathaway's earnings on Saturday was provided.
2023-09-08
Berkshire Hathaway Class A Shares Price Surge
As of September 8, 2023, the stock price for Berkshire Hathaway Class A shares reached an astonishing $551,405, demonstrating the remarkable track record under Warren Buffett's leadership.
2023-11-28
Charlie Munger's death
Charlie Munger, who served as vice chairman of Berkshire Hathaway from 1978 until his death on November 28, 2023, was described by Warren Buffett as his closest partner and right-hand man, signifying his significant role within the company.
End of the Timeline
Berkshire Hathaway

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