With decades of market-beating returns and a reputation for steady, disciplined management, Berkshire Hathaway is a long-standing favorite among investors.

Now, with 94-year-old CEO Warren Buffett announcing his retirement at the end of the year, the company is preparing for a major transition — marking the end of an era for one of the most admired leaders in American business.

Since Buffett took over in 1965, Berkshire has grown from a failing textile manufacturer into a $1.2 trillion conglomerate by acquiring what its CEO calls “wonderful businesses at fair prices” with strong long-term value. Berkshire owns a wide array of companies in industries ranging from railroads and insurance to ice cream and batteries.

Under Buffett’s leadership, the company’s stockhas delivered an astronomical 5,502,284% gain, as of 2025 — compared with about 39,054% for the S&P 500 — according to the company’s most recent annual report.

Berkshire Hathaway shares have mostly outperformed the S&P 500 over just the last 20 years, too.

The company reported first-quarter operating earnings of $9.64 billion on Saturday, down 14% from a year earlier. Its stock underperformed expectations due largely to a decline in insurance underwriting profit, CNBC reported on Saturday.

Berkshire has two classes of stock: Class A and Class B. Class A shares are far more expensive and carry greater voting power. Class B shares are more accessible and widely held by individual investors. Earnings per Class B share came in at $4.47, below a consensus forecast of $4.72, according to FactSet estimates.

Here’s how much a $1,000 investment in Berkshire Hathaway would be worth today, depending on when that investment was made — based on its May 8 closing price for Class B shares.

If you invested one year ago:

• Percentage change: 26.3%
• Total: $1,263

If you invested 10 years ago:

• Percentage change: 246.1%
• Total: $3,461

If you invested 20 years ago:

• Percentage change: 817.8%
• Total: $9,178

Berkshire Hathaway has consistently outperformed the stock market, but financial experts generally recommend diversifying your investments and avoiding putting too much money into any one stock. Broad-based index funds tend to offer more consistent returns and lower fees than picking individual companies, financial planners say.

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