Berkshire Hathaway Warren Buffet’s holding company was once known as Valley Falls Company. Valley Company began back in 1839 and was changed to Berkshire Fine Spinning Associates in 1889. Then in 1955 Berkshire Fine Spinning merged with the Hathaway Manufacturing Company and became known as the Berkshire Hathaway Company.
In 1962 Buffet began purchasing stock in Berkshire Hathaway. When in 1964 Buffet offered to sell back to Seabury Stanton who was then running the company all the shares that he had bought Stanton did not live up the agreement he had made. An angry Warren Buffet began buying more stock rather than selling so that he could fire Stanton which he did. That put Buffet into the position of running a failing company.
Berkshire Hathaway Incorporated is now a multinational holding company with its headquarters in Omaha Nebraska.
The holding company owns 100% such companies as;
- Long & Foster
- Fruit of the Loom
- Helzberg Diamonds
- 38.6% of Pilot Flying J stock.
- 9.4% of Coca-Cola
- 3.3% of Apple
It is also the largest stockholder in both Delta Airlines and United Airlines and is in the top three of stockholders in American Airlines.
Warren Buffet is the chairman and chief executive of Berkshire Hathaway Incorporated. At first, he only purchased stock that offered long-term investments but changed that and started buying whole companies. Instead of being a textile company Berkshire Hathaway owns a wide variety of companies including home furnishings vacuum cleaners and newspaper publishing businesses.
Forbes Global 2000 has Berkshire Hathaway as the third largest company in the world that is publically traded. In 1984 Buffet stated that Berkshire Hathaway’s stock will never split and it has not as of yet. The stock sells in the neighborhood of $300 000.00 per share making it the most expensive in history.