Company profile for Berkshire Hathaway Inc. Cl A including key executives, insider trading, ownership, revenue and average growth rates. Updated October 20, 2022. ", "The Scott Fetzer Company Brand Portfolio", "Berkshire Hathaway Inc. To Acquire 60% of Pritzker Family Company, Marmon Holdings, Inc", "Kathryn Farmer becomes the first woman CEO of an American railroad", "Warren Buffett Jumps Into Autos, Buying Van Tuyl Group", "Billionaire Warren Buffett's Berkshire Hathaway buys North Park Toyota", "Why Warren Buffett Just Bought Duracell", "Chairman's letter 2008 Annual Report, p.13", https://www.cnbc.com/berkshire-hathaway-portfolio/, "Buffett's Bumpy Ride With IBM Draws to a Close With Stock Sales", "Warren Buffett says Berkshire Hathaway has sold completely out of IBM", "Warren Buffett's Berkshire Hathaway buys 75M more Apple shares, sells off IBM", "Goldman Sachs | Press Releases - Berkshire Hathaway to Invest $5 Billion in Goldman Sachs", "Warren Buffett's billion-$$ Goldman bet pays off", "Franc Reverses Gain Versus Dollar as Buffett Buys Bank of America Shares", Car Designer Sees China's Wheels Electric-powered, "Berkshire Hathaway Inc. to Acquire Burlington Northern Santa Fe Corporation (BNSF) for $100 Per Share in Cash and Stock", "Berkshire Hathaway to Buy Lubrizol for $9billion", "Warren Buffett to meet policyholders in India", "Berkshire and 3G Capital in a $23 Billion Deal for Heinz", "Berkshire Hathaway Becomes Majority Owner of H.J. the limited number of personnel in our corporate office, we are unable to Copyright 1978-2023 Berkshire Hathaway Inc. News Releases from Berkshire Hathaway and from Warren Buffett, Berkshire Hathaway Energy Investor Presentations, Special Letters from Warren & Charlie RE:Past, Present and Future, Warren Buffett's Letters to Berkshire Weitz, 72, founded his namesake Omaha-based firm in 1983. Read more: David Herro was the world's best international stock picker for a decade straight. [90] In September 2020, BNSF Railway, among Berkshire Hathaway's largest entities, hired its first female CEO, Kathryn Farmer. The Haslam family and FJ Management will retain ownership stakes until then, upon which the Haslam family will retain the remaining 20% and FJ Management will withdraw altogether. [68] NetJets is the world's leading provider of fractional ownership programs for general aviation aircraft. president (2007 -2009), Notable past and present roles:Berkshire director (2004 - present); First Manhattan CEO (2006 - 2019). The SEC also announced the creation of a climate task force within its enforcement division that will identify any material gaps or misstatements in issuers disclosure of climate risks, and is seeking public comment as it updates rules around how publicly traded companies disclose climate risks. Businesses engaged in the manufacture and distribution of clothing include Union Underwear Corp. Fruit of the Loom, Garan, Russell Corporation and Fechheimer Brothers. The companys resistance to disclosing climate risks to investors comes as financial regulators move to strengthen corporate climate risk disclosure rules, and the Biden administration is expected to announce an executive order on climate related financial risk. B y John McCrank and Jonathan Stempel NEW YORK, May 3 (Reuters) - For some Berkshire Hathaway shareholders a list of post-pandemic challenges including looming inflation, a dearth of. After the morning newspaper Buffalo Courier-Express ceased operation in 1982, the Buffalo Evening News changed its name to The Buffalo News and began to print morning and evening editions. Mr. Smith also served on the Board of Directors and as audit committee chair for Oilstone Energy Services, Inc., a position he held from October 2014 to June 2016. All companies should recognize and appraise physical and transitional climate risks. But I want you to know it's no personality changes taking place. To elect directors. As we move into March, quite a few of the 49 securities held in Berkshire Hathaway's $328 billion investment portfolio look . -, Berkshire Hathaway's Ajit Jain sells $2 mln of company shares -filing, Berkshire hathaway vice chairman ajit jain sells 6,595 berkshire, Berkshire Hathaway : Omaha, NE (BRK.A; BRK.B) - Form 8-K. WESTERN ASSET INVESTMENT GRADE INCOME FUND INC. WESTERN ASSET INFLATION-LINKED OPPORTUNITIES & INCOME FUND, WESTERN ASSET INFLATION-LINKED INCOME FUND, Chief Financial Officer, Secretary & Senior VP, Director & Vice Chairman-Non Insurance Operations, Director & Vice Chairman-Insurance Operations, Psd-Berkshire Hathaway HomeServices-Blake Realtors, Principal Accounting Officer & Vice President, Bill & Melinda Gates Foundation Trust (Investment Management), Northern Trust Investments, Inc.(Investment Management), Morgan Stanley Smith Barney LLC (Investment Management). Abel was appointed vice chairman for non-insurance business operations, and Jain became vice chairman of insurance-operations. Berkshire Hathaway's Chief Executive Officer and Chairman of the Board is Warren E. Buffett. Copyright 2023 Surperformance. [8] The company is one of the largest American-owned private employers in the United States. 7. He has been in this role since January 2018, and has been a member of the Berkshire Hathaway board of directors since. These risks and the boards approach to their management, including any plans to achieve net-zero emissions, should be disclosed to enable these to be appraised by investors. [58][59], Berkshire currently holds 92% of Berkshire Hathaway Energy. Berkshire Hathaway Inc. (/ b r k r /) is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States.Its main business and source of capital is insurance, from which it invests the float (the retained premiums) in a broad portfolio of subsidiaries, equity positions and other securities.The company has been overseen since 1965 by its . Previously it was a privately held conglomerate owned by the Pritzker family for over fifty years, which owned and operated an assortment of manufacturing companies that produce railroad tank cars, shopping carts, plumbing pipes, metal fasteners, wiring and water treatment products used in residential construction. We've detected you are on Internet Explorer. Barron's said Berkshire was the most respected company in the world in 2007, based on a survey of American money managers. Warren Buffett's Berkshire Hathaway paid $8.2 billion to acquire Pilot Travel Centers in January. View detailed BRK.A description & address. View detailed GOOG description & address. Charles Schwab Investment Management, Inc. T. Rowe Price Associates, Inc. (Investment Management). For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. In May 2000, Berkshire purchased Ben Bridge Jeweler, a chain of jewelry stores established in 1912 with locations primarily in the western United States. On Wednesday, March 1, 2023, a Delaware judge dismissed claims against directors of McDonalds . Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in various business activities, including insurance and reinsurance, utilities and energy, freight rail transportation, manufacturing and retailing. This statement is furnished in connection with the solicitation by the Board of Directors ("Board") of Berkshire Hathaway Inc. Buffett agreed to the deal. Berkshire Hathaways board of directors is opposing a proposal from major shareholder groups that the company publish an annual report disclosing the climate risks it faces, even as the companys energy subsidiaries remain heavily invested in fossil fuels and have been impacted by extreme weather events. [29], On March 13, 2020, Bill Gates announced that he was leaving the board of directors of both Microsoft and Berkshire Hathaway in order to focus more on his philanthropic efforts. [54] Barron's also reported on an analysis that suggested the company could be worth $1,000 a share, compared to the offer of $848.02. March 15, 2021 2:51 pm ET Order Reprints Print Article Berkshire Hathaway proxy report shows that the company under Warren Buffett's longtime leadership remains old school in the way it. The Berkshire Hathaway Energy businesses include AltaLink, L.P., BHE Pipeline Group, BHE Renewables, BHE U.S. Its non-insurance subsidiaries operate in diverse sectors such as confectionery, retail, railroads, home furnishings, machinery, jewelry, apparel, electrical power and natural gas distribution. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. In Iowa, a derecho storm in August 2020 caused $56 million in damage to MidAmerican Energys electric system.. Alongside the preferred stock investment, Berkshire obtained warrants allowing Berkshire to buy 700 million common shares at $7.14 per share any time before September 2, 2021. The executive officers of Berkshire Hathaway Inc. are Warren E. Buffett, Chairman and Chief Executive Officer, Charles T. Munger, Vice Chairman, and Marc D. Hamburg, Vice President and Treasurer. Berkshire Hathaway's board of directors is opposing a proposal from major shareholder groups that the company publish an annual report disclosing the climate risks it faces, even as the company's energy subsidiaries remain heavily invested in fossil fuels and have been impacted by extreme weather events. Updated February 27, 2023. The Edison Electric Institute, the trade association for investor-owned utilities, also promoted the Iowa bill, which passed the Iowa Senate but ultimately died in the House. The efforts by financial regulators to better understand and respond to climate risks reflect both the Biden administrations climate agenda and growing concerns from institutional investors about how the companies they own are responding to the climate challenge. [114][115], On February 14, 2013, Berkshire Hathaway Inc and 3G Capital announced plans to purchase H.J. 2. These are the highlights of the 2021 Berkshire Hathaway annual meeting. Heinz Company", "Many 2013 Portfolio Changes For Berkshire and Buffett", "Barrick Gold's stock soars after Buffett's Berkshire reveals stake", "Berkshire Hathaway Adds to Energy Assets", "Warren Buffett takes 5% stake in 5 Japanese trading companies", "HP Soars to Record High After Buffett's Berkshire Buys a Stake", "Warren Buffett's Berkshire Hathaway Acquires $2.6B Stake in Paramount Global", "Warren Buffett's Berkshire Hathaway buys $4bn stake in chipmaker TSMC", "Berkshire dumps shares in TSMC, banks; increases Apple stake", "Berkshire Hathaway has been buying shares of Amazon: Warren Buffett", "Buffett owns 5 percent of Apple. [4], The company's insurance brands include auto insurer GEICO and reinsurance firm General Re. [41] Berkshire Hathaway's market capitalization was valued at over US$496 billion in September 2018. Hathaway had been successful in its first decades, but it suffered during a general decline in the textile industry after World War I. (Note: The two shareholder proposals relating to (1) climate change, and (2) diversity, equity, and inclusion, were each voted against by a 75% to 25% margin as recommended by Berkshire's board of directors. Berkshire also received warrants to purchase 43.5 million shares with a strike price of $115 per share, which were exercisable at any time for a five-year term. Michael Dinkins. He was formerly the Chief Equality and Recruiting Officer at Salesforce, which he joined in September 2016 until July 2021. Director of Financial Assets. [61] Berkshire acquired Fruit of the Loom on April 29, 2002, for $835million in cash. Holders of class A stock are allowed to convert their stock to Class B, though not vice versa. [82], Berkshire Hathaway Energy's HomeServices of America (see complete list of companies) is a residential real estate brokerage firm based in Minneapolis, Minnesota, and founded in 1998. American multinational conglomerate holding company, (19291955; formed in 1929 by the merger of Valley Falls Company and Berkshire Cotton Manufacturing Company), largest American-owned private employers in the United States, Public Utility Holding Company Act of 1935, Union Underwear Corp. Fruit of the Loom, List of assets owned by Berkshire Hathaway, "US SEC: Form 10-K Berkshire Hathaway Inc", "Warren Buffett's Berkshire Hathaway quietly made a $8.2 billion acquisition that taps into the electric-vehicle boom", "Apple hits record high after Buffett's Berkshire increases stake", "Berkshire Hathaway shares topped $500,000 eachhere's why Warren Buffett says he'll never split the stock", "John Kostrzewa: Rich and richer: Berkshire, Buffett and R.I.'s Chace family", "CNBC Transcript: Warren Buffett's $200B Berkshire Blunder and the Valuable Lesson He Learned", "Berkshire Hathaway to join S&P 500, shares soar", "Buffett's Berkshire Hathaway joins S&P 500 Index", "Warren Buffett's Berkshire Hathaway named most respected company", "Berkshire Hathaway, Form 10-Q, Quarterly Report, Filing Date Nov 7, 2008", "Buffett to Invest $5billion in Goldman", "Buffett Says He Backs Goldman's Blankfein 100%", "Warren Buffett: Value Man Through And Through", "Berkshire Hathaway's annual meeting Quartz Obsession", "Buffett's bash begins Saturday in Omaha", "Pilgrimage to Omaha My story of the Berkshire Hathaway AGM (Annual general meeting) of 2004 and meeting Warren Buffett", "Whitney Tilson's 2006 Berkshire Hathaway Annual Meeting Notes", "Bill Gates to Leave Boards of Microsoft and Berkshire Hathaway", "Berkshire moves step closer to Buffett succession", "Berkshire Hathaway is pleased to announce that Todd Combs will soon be joining Berkshire as an investment manager", "Berkshire Hathaway, Form 10-K, Annual Report, Filing Date Mar 1, 2013", "Berkshire Hathaway to Add Second Investment Manager", "Buffett Waits on Fat Pitch as Cash Hoard Tops $50 Billion", "Buffett's Annual Letter: Berkshire Records $29 Billion Gain From Tax Law", "Berkshire Hathaway Inc, Current Report, Filing Date Jan 10, 2018", "Warren Buffett's Berkshire Hathaway expands its board", "Warren Buffett Still Hasn't Revealed a Berkshire Hathaway Succession Plan", "BERKSHIRE HATHAWAY ANNUAL & INTERIM REPORTS", "Berkshire Hathaway Annual & Interim Reports", "Fortune 500 Companies 2018: Who Made the List", "Berkshire Hathaway Inc, Form 10-K, Annual Report, Filing Date Mar 30, 1999", "Berkshire Hathaway, Form 8-K, Current Report, Filing Date Jan 5, 1999", "Berkshire Hathaway to buy reinsurer, start bond insurer", "Berkshire Hathaway, Form 10-Q, Quarterly Report, Filing Date May 2, 2008", "Berkshire Unit Settles With California Regulator Over Workers Comp Insurance", "Applied Underwriters Sold to Founder in $920M Deal", "Berkshire to buy insurer Alleghany for $11.6 billion in Warren Buffett's biggest deal in years", "Berkshire's $11.6B Alleghany Deal Expands Insurance Business", "Berkshire's $11.6B Alleghany deal expands insurance business", "Why a Bidding War for Alleghany Could Erupt", "Why the Insurer Alleghany Could Be Worth $1,000 a Share", "Warren Buffett's disdain for investment banking 'money-shufflers' leads to lower takeover price for Alleghany Corp. shareholders", "The 1 Stock Warren Buffett Is Most Likely to Sell in 2015", "Buffett's Berkshire slashes Goldman stake; exits Phillips 66, Travelers", "Warren Buffett Sold Phillips 66 -- Here's Why I'm Holding (and May Buy More)", "Links to Berkshire Hathaway Sub. Buffett, Howard G. Buffett, Malcolm G. Chace, Ronald L. Olson, and Walter Scott, Jr. The Bill and Melinda Gates Foundation is a large shareholder of Berkshire, owning 4.0% of Class B Shares. Notable past and present roles:Berkshire director (2020 - present); General Catalyst chairman and managing director (2018 - present); American Express CEO (2001 - 2018); Facebook director (2018-2020). After widespread public opposition in legislative hearings, the bill failed last month. The 2004 movie featured Arnold Schwarzenegger in the role of "The Warrenator" who travels through time to stop Buffett and Munger's attempt to save the world from a "mega" corporation formed by Microsoft-Starbucks-Wal-Mart. He is currently the chairman and CEO of Berkshire Hathaway. ", The salary for Buffett is $100,000 per year with no stock options, which is among the lowest salaries[23] for CEOs of large companies in the United States.[24]. https://www.barrons.com/articles/berkshire-hathaway-names-warren-buffetts-daughter-and-money-manager-chris-davis-to-its-board-51634767965. The Haslam family will retain control of day-to-day operations of the company.[74]. [122], Between September 2019 and August 2020, Berkshire purchased more than 5% of the outstanding stock of each of the five largest Japanese general trading companies (Itochu, Mitsubishi, Mitsui, Sumitomo, and Marubeni) through its National Indemnity subsidiary. Annual & Interim Reports. However, seven of those locations were closed by the end of the decade, accompanied by large layoffs. [22], Berkshire Hathaway has never split its Class A shares because of management's desire to attract long-term investors as opposed to short-term speculators. In July, Berkshire acquired a 90% equity interest in MiTek Inc., which makes engineered connector products, engineering software and services, and manufacturing machinery for the truss fabrication segment of the building components industry and is headquartered in Chesterfield, Missouri. What Buffett looks for in annual reports. For years, it was assumed that Buffett's successor would. Notes: Bill Gates' replacement on Berkshire's board. Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. [16], In 2008, Berkshire invested in preferred stock of Goldman Sachs as part of a recapitalization of the investment bank. To visualize Berkshire Hathaway's segments, we display them as entity nodes under the primary entity: Berkshire itself. In the 2017 annual report, Berkshire Hathaway disclosed its total position by December 31, 2017, to be 166 million shares (3.3% of Apple). Beyond its energy subsidiaries, other Berkshire Hathaway subsidiaries also remain invested in fossil fuels. [26] Known for their humor and light-heartedness, the meetings typically start with a movie made for Berkshire shareholders. Berkshire Hathaway, the conglomerate led by Warren Buffett, is among the companies that appears to be falling far short of large institutionalinvestors expectations for climate risk disclosure. [11] Buffett claimed that had he invested that money directly in insurance businesses instead of buying out Berkshire Hathaway (due to what he perceived as a sleight by an individual), those investments would have paid off several hundredfold.
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