NYSE: (BRK.A and BRK.B)
Headquarters: 3555 Farnam Street, Suite 1440, Omaha, NE 68131
http://www.berkshirehathaway.com/
2009 Revenue: $112.49 billion
Berkshire Hathaway had a 60 percent earnings increase in 2009.
Key Officers: Warren E. Buffett, Chairman and Chief Executive Officer; Charles T. Munger, Vice Chairman
In 1962, Berskshire Hathaway’s well-known CEO Warren Buffett began buying stock in the company, then a textiles manufacturer founded in 1839. However, he soon bought enough shares to change the management and take control of the company.
Buffett first expanded into the insurance industry with the purchase of National Indemnity Company, then with the acquisition of an equity state in the Government Employees Insurance Company (GEICO), which forms the core of its insurance operations today.
Last year marked the 29th consecutive year that Buffett, nicknamed the “Oracle of Omaha” and second richest person in America, took home a CEO salary of $100,000, as did Vice Chairman Charles Munger. Buffett also does not take a bonus from the company, and in 2009, he wrote a check for $50,000 to cover his personal expenses for the year, including postage, phone use, and travel.
Buffett writes a coveted annual letter to the shareholders, which is filled with as much wisdom and humor as it is with year-end results. The letters are analyzed by financial experts, business enthusiasts, and average people, leading into an infamous question-and-answer session with Buffett and Munger overseen by three leading financial journalists.
Sources: www.BerkshireHathaway.com, Barron’s, Google Finance
Compiled by Life Quotes, Inc. staff
Follow Us
