Tracing its roots to a textile factory founded in 1839, by the 1950s Berkshire Hathaway had grown to fifteen plants employing 12,000 people. From 1962,
Warren Buffett began to buy stocks in Berkshire Hathaway and by 1965 he had gained a majority share.
In 1985, struggling against competition from cheaper labour in overseas factories, the textile mill was closed. He is happy to admit that Berkshire Hathaway wasn't one of his best investment decisions.
But its share price tells a different story: Mr Buffett began buying shares in Berkshire Hathaway at $7.60 a share. Today, as his
investment vehicle, each share is valued at around $100,000. - BBC
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