Berkshire Hathaway is a famous American multinational conglomerate company which has its headquarters in Omaha in Nebraska. This company owns Dairy Queen, Lubrizol, BNSF Railway, Pampered Chef and holdings in many more companies. It has one of the largest holdings in the US airline carriers. The company is controlled by Warren Buffett who is also the owner of it.
He has also worked as a chief executive and chairman of the company. The company is involved in a number of businesses like home furnishings, vacuum cleaners. Retail, confectionary, jewelry, railroads and many more. If you want to know more about history, evolution and net worth of Berkshire Hathaway in 2019, then you can continue to read ahead.
The textile manufacturing company which was established in 1839 by Oliver Chace was the beginning of this company. He founded his first mill in the year 1806 and then in the year 1929; two companies were merged to make Berkshire Fine Spinning Associates. Later on, it was merged with Hathway manufacturing company which was founded in the year 1888.
This company suffered a great loss in textile during World War 1st. The company wasn’t a succession plan in the beginning, and then after the world war, there were not so many chances of profit. When Warren Buffett came forward to purchase it, then he took the company to heights of success. According to him, it wasn’t a smart move to purchase that company because the textile core business was closed after some time while he earned with the investments made by him.
At first, Buffett decided to maintain the core business of the company which was of textiles, but in the year 1967, he expanded the insurance industry along with making other investments through the company. In the year 1985, the textile operations of the company were closed, and in the year 2010, he claimed that purchasing Berkshire Hathaway was among his one of the biggest mistakes financially. He also said that he should have invested money directly into business instead of buying the company.
Net Worth & Earnings
The net worth of Berkshire Hathaway is around $35 billion which it has earned by one-time benefit. In the year 2017, it earned the amount of about $44,940 million. The company owns total assets of around $711,932 in the year 2018. The total equity of the company is around $348,296 in the year 2017. There are about 377,000 employees who are working for Berkshire Hathaway. In the year 2010, Buffet made some serious announcements for the investment manager position and other main positions of the company.
The company has invested in many types of fields and companies in the world. There is a number of people who are earning by working under the company. The earnings of the company are only going to increase in the coming years ahead. There are no chances that the owner of the company is going to face any disappointment regarding its financial profits.