Berkshire Hathaway

Its class A shares have the highest per-share price of any public company in the world, reaching $700,000 in August 2024, because the board of directors has historically been opposed to stock splits.

[18] He has estimated that had he invested the same money directly in insurance businesses instead of indirectly via Berkshire Hathaway (due to what he perceived as a slight by an individual), it would have paid off several hundredfold.

[28] Berkshire formed BH Media Group with a purchase of the Omaha World-Herald in December 2011,[29] which included six other daily newspapers and several weeklies across Nebraska and southwest Iowa.

[30] In June 2012, Berkshire purchased 63 newspapers from Media General, including the Richmond Times-Dispatch and Winston-Salem Journal, for $142 million in cash.

[32] In 2013, the company purchased the Tulsa World, the Greensboro, North Carolina-based News & Record, Virginia's Roanoke Times, and Press of Atlantic City.

[33] In 2014, Graham Holdings Company sold its Miami television station, ABC affiliate WPLG to BH Media in a cash and stock deal.

[36] In 2020, Lee Enterprises acquired BH Media Group's publications and The Buffalo News for $140 million in cash, retaining WPLG.

[41] In 1986, Berkshire acquired Scott Fetzer Company, a diversified group of 32 brands that manufactures and distributes products for residential, industrial, and institutional use, including Ginsu knives and World Book Encyclopedia.

In January 1986, Berkshire acquired Fechheimer Brothers, owner of Flying Cross, which manufactures public safety uniforms, and Vertx, a civilian tactical clothing company.

[47] GEICO, headquartered in Chevy Chase, Maryland, primarily offers private passenger automobile insurance marketed directly to individual consumers in the United States.

In February 1997, Berkshire acquired FlightSafety International (FSI), a pilot training company founded in 1951 by Albert Lee Ueltschi and headquartered at LaGuardia Airport in Flushing, New York.

[67] In May 2000, Berkshire acquired Ben Bridge Jeweler, a chain of jewelry stores established in 1912 with locations primarily in the western United States.

[82] In October 2002, Berkshire acquired The Pampered Chef, the largest direct seller of kitchen tools in the United States.

From its headquarters in Addison, Illinois, The Pampered Chef utilizes a network of more than 65,000 independent sales representatives to sell its products through home-based party demonstrations, principally in the United States.

[84][85] CTB, headquartered in Milford, Indiana, is a designer, manufacturer, and marketer of systems used in the grain industry and in the production of poultry, hogs, and eggs.

Products are produced in the United States and Europe and are sold primarily through a global network of independent dealers and distributors, with peak sales occurring in the second and third quarters.

[88] In July 2005, Berkshire Hathaway acquired Forest River, the world's largest seller of recreational vehicles, from Pete Liegl for $800 million.

It appointed two Berkshire Hathaway Energy executives as CEO and CFO of the company, retaining Jimmy Haslam as chairman.

[115] Buffett began investing in Wells Fargo in 1989; however, by the first quarter of 2022, Berkshire Hathaway had sold its entire interest in the company.

[116][117] Buffett has had a long relationship with Jeff Bezos; he turned down an opportunity to invest in Amazon.com in 1994 as he was unable to predict the company's future growth and it was losing money.

[124][125] In September 2008, at the peak of the 2007-2008 financial crisis, Berkshire invested $5 billion in preferred stock in Goldman Sachs to provide it with a source of funding when capital markets had become constrained.

[129] Buffett defended Lloyd Blankfein's decisions as CEO of Goldman Sachs and his efforts to improve the reputation of the company during the 2007-2008 financial crisis.

[151] Buffett had said that Apple has developed an ecosystem and level of brand loyalty that provides it with an economic moat, and that consumers appear to have a degree of price insensitivity when it comes to the iPhone.

[156][157][158] In June 2017, Berkshire acquired a 38.4% stake in Home Capital Group for $400 million giving lifeline to the Toronto-based embattled mortgage lender.

[162][163] Between September 2019 and August 2020, Berkshire purchased more than 5% of the outstanding stock of each of the five largest Japanese sogo shosha (Itochu, Mitsubishi, Mitsui, Sumitomo, and Marubeni) through its National Indemnity subsidiary.

[175] Berkshire's annual reports since 2008 have emphasized its commitment to holding ample cash to cover near-term insurance obligations.

With some exceptions, the company also usually does not invest in real property due to precise pricing, lack of competitive advantage, complex management, and corporation tax disadvantages.

[181] Berkshire Hathaway has never undergone a stock split of its Class A shares because of management's desire to attract long-term investors as opposed to short-term speculation.

Buffett was reluctant to create the class B shares but did so to thwart the creation of unit investment trusts that would have marketed themselves as Berkshire look-alikes.

Attendance generally totals over 40,000 people and the meetings last for 6 to 8 hours, with Buffett himself, as well as Abel and Jain, answering questions from shareholders.

Buffett (second from left) and Munger (at right) in 1998
A HomeServices of America in Gillette, Wyoming
Berkshire routinely features Coca-Cola products, from one of its oldest and largest investments, at its corporate events.