Berkshire Hathaway was founded by Oliver Chace in 1839.
It is an American multinational conglomerate, headquartered in Omaha, Nebraska, United States. It provides insurance services both on reinsurance and primary basis. It employees 316000 people. Berkshire Hathaway, Inc. engages in diverse business activities including casualty and property insurance and reinsurance, freight rail transportation, utilities and energy, finance, manufacturing, retailing and services. Its business activities are conducted through foreign and domestic-based insurance entities.
Warren Buffet converted the old textile company to an insurance industry . It acquired an equity stake in Government Employees Insurance Company (GEICO) in 1970 and it is the major part of the insurance business for Berkshire today.