Even though Berkshire Hathaway has a long history with CEO and owner Warren Buffett. The company has been around for a hundred years even before Warren Buffett was born. The company’s success has been on a roller coaster ride but after Warren Buffett took over it began to advance and become one of the biggest organizations in America.
Berkshire Hathaway was a former textile company that was started in the 1800’s and in the 1970s it was the biggest textile company in America one of the biggest companies in America that survived its time, employed over 12,000 employees. Even though Berkshire and Hathaway were two different businesses they both were in the Textile industry and Manufacturing industry, and after they joined forces it helped the companies to regain power and begin to flourish a little more after its merger.
In the 1950s, Berkshire Hathaway needed to improve its finances with the company falling down after declining revenues in the textile business. They hired Seabury Stanton who took over the company to help the company gain back its business and for a while, he did gain the company in success. Though they did have success the company never really recovered from the changing of industries. Warren Buffett begins investing in the company by buying stocks and eventually would become the major shareholder of the company and become owner and CEO of the organization.
Warren Buffett grew to CEO and owner of Berkshire Hathaway due to the chance of the company declining in revenues and him seeing a potential gold mine in its stocks. Having a keen eye for looking at the bigger picture and it rewarding him at the end of being one of his best investments ever.