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Berkshire Hathaway

Berkshire Hathaway Inc.
TypePublic (NYSE: BRKA, NYSE: BRKB)
Founded1839 (as Valley Falls Company)
Founder(s)Oliver Chace
Headquarters Omaha, Nebraska, USA
Area servedUSA
Key peopleWarren E. Buffett (Chairman & CEO)
Charles T. Munger (Vice Chairman)
IndustryProperty and casualty insurance, Diversified investments
ProductsConglomerate
US$13.213 Billion (2007)
Total assets▲ US$273.160 Billion (2007)
Total equity▲ US$120.733 Billion (2007)
Employees233,000 (mostly in subsidiaries) (2008)
SubsidiariesBerkshire Hathaway Assurance, The Buffalo News, GEICO, General Re, International Dairy Queen, Fruit of the Loom, Helzberg Diamonds, NetJets, The Pampered Chef, et al.[1]
Websitewww.berkshirehathaway.com

Berkshire Hathaway (NYSE: BRKA and NYSE: BRKB) is a conglomerate holding company headquartered in Omaha, Nebraska, U.S., that oversees and manages a number of subsidiary companies. Berkshire Hathaway's core business is insurance, including property and casualty insurance, reinsurance and specialty nonstandard insurance. The Company averaged an annual return in excess of 21% to its shareholders for the last 42 years while employing large amounts of capital and minimal debt.[citation needed]

Warren Buffett is the company's chairman and CEO. Buffett has used the "float" provided by Berkshire Hathaway's insurance operations (a policyholder's money which it holds temporarily until claims are paid out) to finance his investments. In the early part of his career at Berkshire, he focused on long-term investments in publicly quoted stocks, but more recently he has turned to buying whole companies. Berkshire now owns a diverse range of businesses including candy production, retail, home furnishings, encyclopedias, vacuum cleaners, jewelry sales; newspaper publishing; manufacture and distribution of uniforms; manufacture, import and distribution of footwear; as well as several regional electric and gas utilities.

 

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