The Berkshire Hathaway Fanpage

In early 1986, a one-paragraph letter to a Cleveland CEO bought Berkshire a $315 million conglomerate that would route more than a billion dollars back to Omaha in its first fifteen years. Forty years later, Scott Fetzer has been quietly absorbed into Marmon — but the archetype it established still defines what a textbook Buffett deal looks like.

Berkshire Hathaway votes down every ESG shareholder proposal and publishes no conglomerate-wide sustainability report. Yet its subsidiaries have poured $38 billion into renewables, retired 22 coal units, and built some of the most progressive supply chains in American manufacturing. The real ESG record hides in plain sight — in the 10-K.

PacifiCorp's wildfire liability has swelled past $2.8 billion in reserves against $50 billion in outstanding claims — with PacifiCorp's own equity at just $9-10 billion. An April 2026 appeals court ruling offers a reprieve, but the structural question remains: can a regulated utility survive unlimited tort liability, and what does that mean for Berkshire Hathaway Energy?

Berkshire closed January 2, 2026 by absorbing Occidental's OxyChem chemicals business for $9.7 billion cash — the same headline price Buffett paid for Lubrizol in 2011. The deal carries an unusual lineage: Lubrizol's CEO Rebecca Liebert now also runs OxyChem inside Berkshire.

From the 2013 Heinz buyout with 3G Capital to Greg Abel's January 2026 registration of all 325 million Kraft Heinz shares for sale, this is the full arc of Berkshire's most instructive capital allocation lesson — and what a divestment would actually mean.

A two-page fax in 2005 bought Berkshire an RV empire. Nineteen years later, Pete Liegl died still running it — leaving Greg Abel a ten-billion-dollar subsidiary now facing 50% steel tariffs, four-dollar gasoline, and the highest RV loan rates in a generation.

Dairy Queen turns 85 this year with 7,800 restaurants across 27 countries, a $6.4 billion system generating nearly $100 million in annual profit for Berkshire — yet it barely rates a paragraph in the annual report. From a 1940 soft-serve stand in Joliet, Illinois to a $10 billion growth target by 2030, this is the story of Berkshire's most delicious invisible subsidiary.

BNSF Railway sits at the epicenter of America's trade war. With dominant West Coast intermodal operations, a massive grain export franchise, and minimal Mexico exposure, Berkshire's railroad faces a unique cocktail of tariff risks that its competitors largely avoid.

From a $725 million acquisition that nearly went bankrupt to an operation spanning 1,100 aircraft across 150 countries, NetJets is Berkshire Hathaway's most unlikely success story — built by the man who once called private jets "indefensible."

Berkshire Hathaway quietly spends more on American infrastructure than most countries — $20.9 billion in 2025 alone. From BNSF's 32,500 miles of railroad to BHE's $38 billion renewable energy build-out and Pilot's 900 truck stops, here is how the conglomerate is literally building the backbone of the United States.

Berkshire Hathaway's National Indemnity acquired a 2.49% stake in Tokio Marine Holdings for $1.8 billion, launching a 10-year reinsurance partnership with Japan's oldest insurer. The deal deepens Berkshire's Japan strategy, generates float through a quota-share agreement, and lands squarely in the middle of a marine insurance crisis triggered by the Iran conflict.

Todd Combs took a bleeding GEICO — losing $1.9 billion in 2022 — and rebuilt it into a $6.8 billion profit machine by slashing 14,000 jobs, gutting 600 legacy apps, and betting on AI. Now Nancy Pierce inherits the most technologically ambitious insurer in America. Here is the full story of GEICO's transformation.

Pilot Travel Centers' 2025 was a disaster — pre-tax earnings collapsed 69% to just $190 million on $42.2 billion in revenue. Now the Iran war has sent diesel past $5 per gallon. For Berkshire's most troubled subsidiary, the oil spike is either a lifeline or the final blow.

Less than three months into Greg Abel's tenure as CEO, the 2026 Iran war is delivering a real-time stress test across Berkshire Hathaway's empire. From a $2 billion energy windfall to soaring marine insurance rates, here is how each major subsidiary is navigating the crisis — and why Berkshire may emerge stronger.

Recently, a user on shrewdm.com posed a compelling question: What is Berkshire Hathaway Energy really worth today? Is its value closer to the $87 billion implied by Greg Abel’s 1% stake acquisition in 2022, or to the $49 billion valuation suggested by the Scott family’s 8% stake sale in 2024?

As Warren Buffett steps down after six decades, Greg Abel takes the helm of Berkshire Hathaway, a $1+ trillion empire. We analyze Abel’s fit as CEO—highlighting his deep operational expertise, Buffett’s mentorship while also weighing potential pitfalls like his lesser-known investment prowess and the daunting Buffett shadow.

We review Clayton Homes’ 2024 performance and future prospects through the lens of American innovation, from postwar factory-built housing to today’s modular revolution.

Just shy of $2 billion in 2024 pre-tax earnings, Marmon’s mosaic of autonomous businesses showcases resilience and opportunity.

Drawing on the epic spirit of America’s railroad expansion, Pilot Travel Centers’ 2024 marks a transformative chapter as Berkshire Hathaway completes full ownership and modernizes operations.

Precision Castparts shows a strong 2024 rebound. Yes, we are at pre-pandemic earnings again!

In 2024, Lubrizol regained momentum with stable revenue and a long-awaited rise in pre-tax earnings. Can it reach its next major milestone?

2024 was a strong year for BHE, with net earnings of approximately $4 billion. Let’s take a closer look at how this was achieved.

BNSF navigated a dynamic 2024, achieving $6.6B in pre-tax earnings despite revenue declines. A $3.8B investment in 2025 aims to drive growth and efficiency.

In 2024, GEICO has undergone a remarkable transformation, delivering record underwriting profits.

Berkshire Hathaway had a stellar 2024, just as many expected. The company posted $47.4 billion in net operating earnings, alongside $41.4 billion in investment gains.

With the S&P 500's P/E ratio above 30, market valuations are historically high, posing challenges for Berkshire Hathaway. As interest rate cuts loom, when and where will Buffett make his next big move?

Howie Buffett's will have a pivotal role in preserving Berkshire Hathaway's unique corporate culture, shaped by his father's legacy and essential for the company's future success.

The Greater LA Fires have left everyone in shock. As the situation continues to unfold, we turn our attention to Berkshire's position.

Explore the powerful mental model of inversion as championed by Charlie Munger, revealing its historical roots, applications in investing, and lessons from Argentina and IBM's corporate strategies.

Let us review Berkshire Hathaway's pivotal year in 2024, marked by record cash reserves, strategic portfolio shifts, and resilient stock performance.