In 1962, Warren Buffett began purchasing Berkshire Hathaway shares, then trading at $7.50 per share.
At this point, the company operated textile mills in New Bedford, Massachusetts.
They were struggling against cheaper foreign imports.
Through the steady accumulation of shares, Buffett gained a controlling interest in Berkshire Hathaway in 1965.
He fired then-chairman Seabury Stanton over a price dispute, marking his first and later-regretted hostile takeover.
Buffett continued the textile operations despite their declining prospects.
In 1967, Berkshire Hathaway issued a 10-cent dividend.
Warren Buffett later calls this his only dividend declaration, preferring to reinvest profits into new businesses.
That same year, he expanded beyond textiles by acquiring National Indemnity insurance company for $8.6 million—shifting into insurance for the first time.
He later buys National Fire and Marine Insurance as well.
Buffet decided to expand into media in 1973 through a calculated investment in the Washington Post Company, forming a partnership.
This move would prove instrumental to Berkshire's diversification strategy.
Three years later, Berkshire initiated its involvement with GEICO through a $4 million investment; twenty years later, it would have full ownership in 1996.
In 1983, the company purchased Nebraska Furniture Mart for $60 million, adding retail operations to its portfolio.
Five years later, Buffett made one of its most renowned investments, acquiring a 7% stake in Coca-Cola for $1.2 billion.
By 1998, Berkshire Hathaway had made two huge acquisitions.
The merger with General Re doubled Berkshire's insurance capacity, while the purchase of Executive Jet (later renamed NetJets) established the company's presence in private aviation services.
These purchases helped position Berkshire Hathaway as a diverse holding company, far removed from its textile-manufacturing origins.
In 2010, Warren Buffett executed his largest-ever purchase by acquiring Burlington Northern Santa Fe Railroad.
This $44 billion investment secured Berkshire's position in America's rail transport infrastructure.
Berkshire partnered with 3G Capital to acquire H.J. Heinz Company for $28 billion in 2013.
The 2016 purchase of Precision Castparts for $37 billion strengthened Berkshire's industrial manufacturing portfolio, specifically in aerospace components and industrial power generation.
During the COVID-19 pandemic in 2020, Berkshire made a strategic $10 billion investment in Dominion Energy's natural gas transmission assets, expanding its energy infrastructure holdings.
By 2021, Berkshire's Class A shares reached $415,000—it was proof of Buffett's investment philosophy delivering returns exceeding 620% over two decades.
Berkshire Hathaway's succession plan centers on Greg Abel, who will become CEO after Warren Buffett steps down.
The company confirmed this decision in 2021.
Abel's connection to Berkshire began in 1999 when the company acquired MidAmerican Energy, where he served as a key executive.
He now oversees all non-insurance operations as vice chairman, managing businesses that range from railroads to retail chains.