When one person has a vision and the knowledge to make that vision come true, then that one person can completely change the world. Most investors are familiar with who Warren Buffett, but those same investors may not know exactly what Berkshire Hathaway is. The story about Berkshire Hathaway is not as confusing as you may think and it offers some insight into one of the greatest investing minds the world has ever seen.
What Is Berkshire Hathaway?
Berkshire Hathaway is a holding company located in Omaha, Nebraska. It was originally incorporated in 1889 as a textile mill and it was extremely successful for many years. But in the early 1960's the company began to struggle and an investor named Warren Buffett was going to sell off his shares and get out. But the president of the company undercut Buffett's price and forced Buffett to either lose money or stay invested in the company.
In response, Buffett and his group bought majority share in the company in 1965 and fired the president. Buffett then went about the business of improving Berkshire Hathaway's profitability and found great success.
Soon after Buffett made Berkshire Hathaway profitable again, he started to branch out into other types of investments such as insurance companies, broadcasting companies, and soft drink companies. Warren Buffett soon became legendary for his investing abilities and Berkshire Hathaway is now a holding company worth billions of dollars.
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