Berkshire Hathaway Inc. (/ˈbɜːrkʃər/) is an American multinational conglomerate holding company headquartered in Omaha, Nebraska. Originally a textile manufacturer, the company transitioned into a conglomerate starting in 1965 under the management of chairman and CEO Warren Buffett and vice chairman Charlie Munger (1978–2023). Greg Abel now oversees most of the company's investments and has been named as the successor to Buffett. Buffett personally owns 38.4% of the Class A voting shares of Berkshire Hathaway, representing a 15.1% overall economic interest in the company.[4]
Notable companies wholly-owned by Berkshire include GEICO, Gen Re and BNSF Railway. Major stakes in public companies owned by Berkshire as of September 30, 2024 include Apple Inc. (2% or $69.8 billion), American Express (21.5% or $46.2 billion) and Bank of America (9.99% or $36.4 billion).[5] Insurance is a major area of operations and the retained premiums (float) serve as an important source of capital.[6] As of September 30, 2024, the company had $325 billion in cash and cash equivalents, more than any other U.S.-based public company.[7]
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