Berkshire Hathaway, the massive conglomerate run by billionaire Warren Buffett, posted a nearly $50 billion net loss in the first quarter—the biggest loss ever for the storied company.
Berkshire, which owns companies including Geico auto insurer, Burlington Northern Santa Fe railroad, Dairy Queen, Duracell, and many other financial, industrial, and consumer firms, has been hit hard by the COVID-19 pandemic. Just like the rest of the market and economy.
