INFOCLUTCH | OCTOBER 13, 2020
Berkshire Hathaway is one of the leading American organizations. The company’s expansion is into different industries serving the varying needs of the customers. Of-late the company was in the news to have 78% of the portfolio in stocks of Apple, BofA, Coca-cola, American express, and Kraft Heinz.
The company is located in Nebraska, USA
Its origin story goes back to 1839
Oliver Chace founded the textile manufacturing company in that year, as Valley Falls
The same company united with Berkshire cotton manufacturing in the year 1929
Warren Buffet, bought the stocks of Berkshire Hathaway in 1960s
Buffalo Evening News founded in the year 1873, was taken over by Berkshire in 1977
The company was exposed to the insurance sector from 1967 and later on with the acquisition of the National Indemnity
In the year 1989, it invested in US Airways
In the year 1996, the company took over the aviation training company FlightSafety International Inc.
In the year 1998, the company took over General Re
In 2000, the organization acquired the Acme Building Brands
The organization acquired the Pampered Chef, by the year 2002
The same year the company took over Albecca Inc.
It acquired the Russell Corporation in 2006
Later the company also invested in Tesco the same year
In 2007, the company took over the Marmon Group
In the year 2008, the company selectively invested in the financial giant, Goldman Sachs
The same year the company acquired stocks of GE and others for a sum of $14.5 billion
In 2011, the company announced that Ted Weschler would be another investment manager
In the same year, it invested $5 billion in BofA
Again in 2011, it took over Lubrizol Corporation
In 2012, it announced they would be taking over the Oriental Trading company
In 2014, the company stated of taking over Duracell
By 2016, it was observed, Warren Buffet had 31.7% voting power in the company’s shares
4% of the share is held by the company owned by Melinda Gates
In 2017, the company made an investment of $400 million in Home Capital Group
In 2018, Greg Abel, got the new role of Vice-Chairman in the company
The same year it was ranked third in the Fortune 500 ranking in terms of the revenue earned by the organization.
The company’s earnings rose to US$84.1 billion by the year 2019
Almost 90% of the Berkshire Energy is held by the organization
The Forbes Global 2000 listed out the conglomerate as the eighth largest public company across different countries.
The next Berkshire annual shareholder meeting is scheduled on 1st May, 2021
The 2020 meeting that was held on 4th May, had the live-streaming format
Buffett discussed why he didn’t invest in a big project for long
He stated the best thing during this pandemic is to possess S&P 500 Index Fund
It has now more than 60 companies under the brand and as per a recent report in August 2020, the conglomerate’s Class B stock is one of the biggest components in the S&P 500 Index.
The company’s class A shares were sold for $339,188 in the beginning month of 2020. It even sold all the US Airlines shares recently, due to the pandemic.