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HISTORY

BERKSHIRE HATHWAY

American multinational conglomerate company Headquartered in Omaha , Nebraska, United States The Hathaway Manufacturing Company was started in 1888 by Horatio Hathaway, a China trader The business of the company was to mill cotton Seabury Stantons contribution to the company In the 1950s, he decided to merge the company with Berkshire Fine Spinning Associates Inc

Merged company was huge, with 15 plants, over 12000 employees and revenue of over 120 million dollars Its headquarters were in New Bedford.

By the end of the 1950s, the company had closed seven of its plants and laid off a large number of workers. Its stock prices fell In 1962, Buffett started to buy shares in the company By 1963, Warren Buffet and his associates were the largest stockholders Buffett increased his shareholding to 49 per cent and used his votes to change the management of the company He became Chairman of the executive committee and installed Ken Chace as President to run it

After that , the company had only two operative mills left with 2300 employees remained. In 1985, the company discontinued its historic role in the textile business . In about 1967, Buffett turned the companys eyes towards the insurance business, negotiating the purchase of two Nebraska companies, National Indemnity and National Fire and Marine Insurance.

ABOUT WARREN EDWARD BUFFETT

Born on August 30,1930 . Is an American business magnate, investor, and philanthropist . He was ranked as the world's wealthiest person in 2008 & consistently ranked among the world's wealthiest people . Owner of Berkshire Hathway .