Berkshire Hathaway is a multinational conglomerate holding company based in the United States.
History:
Berkshire Hathaway was founded in 1839 by Oliver Chace as the Valley Falls Company, a textile manufacturing company based in Rhode Island. The company went through several mergers and acquisitions over the years, eventually becoming a holding company under the leadership of Warren Buffett and Charlie Munger. Today, Berkshire Hathaway is a multinational conglomerate holding company with a diverse range of businesses, including insurance, retail, manufacturing, and energy. Some of its subsidiaries include GEICO, Duracell, Dairy Queen, and Fruit of the Loom. In 2019, Berkshire Hathaway reported earnings of $81.4 billion and an annual revenue of $254.6 billion.
Financials:
Annual Report: You can find the 2022 Annual Report for Berkshire Hathaway on their website. It provides comprehensive information about the company’s financial performance, operating results, and outlook for the future.
2022 10-K and Annual Report (berkshirehathaway.com)
SEC Form 10-K: The 2022 SEC Form 10-K is also available for detailed financial disclosures. It includes information on the company’s balance sheet, income statement, and cash flow.
https://www.berkshirehathaway.com/2022ar/linksannual22.html
Income Statement: If you’re interested specifically in the annual income statement, you can view it on The Wall Street Journal’s website. It covers key financial metrics and ratios.
https://www.wsj.com/market-data/quotes/BRK.A/financials/annual/income-statement
Challenges:
Berkshire Hathaway has been a successful conglomerate holding company for many years, but it has faced some challenges. One of the biggest challenges is the company’s ability to convince the market to support the business after Warren Buffet is no longer at the helm. Berkshire Hathaway’s reputation could take a hit as any troubles could be blamed on not having Buffett at the helm. Another challenge is that book value has become a smaller percentage of intrinsic value and therefore a less accurate estimate of the value of the firm. The company is also facing challenges in decarbonizing in states like Wyoming, which is passing laws to keep coal plants running as long as possible.
Leadership:
Warren E. Buffett: Chief Executive Officer and Chairman of the Board 12.
Marc D. Hamburg: Senior Vice-President and Chief Financial Officer.
Daniel J. Jaksich: Vice President and Principal Accounting Officer.
Jo Ellen Rieck: Vice President.
Mark D. Millard: Vice President.
Gregory E. Abel: Vice Chairman of Non-Insurance Operations, Director.
Ajit Jain: Vice Chairman of Insurance Operations, Director.
Charles T. Munger: Vice Chairman of the Board of Directors.
Howard G. Buffett: Director.
Susan A. Buffett: Director.
Stephen B. Burke: Director.
Kenneth I. Chenault: Director.
Christopher C. Davis: Director.
Susan L. Decker: Director.
Charlotte Guyman: Director.
Thomas S. Murphy Jr.: Director.
Ronald L. Olson: Director.
Wallace R. Weitz: Director.
Meryl B. Witmer: Director 1.
Warren Buffett, the legendary investor, has been at the helm of Berkshire Hathaway since 1970, and his investment acumen has made him one of the most well-known investors globally 34. The company’s leadership team plays a crucial role in managing its diverse portfolio of businesses.