Berkshire Hathaway takes the No. 8 spot in FORTUNE’s 50 Most Admired Companies ranking. According to the media outlet, “Warren Buffett is one of the nation's most revered CEOs. In addition to building a conglomerate with 250,000 employees and nearly $50 billion in cash holdings, the Oracle of Omaha has pledged to give half his massive wealth to charity (and has goaded others to do the same). His company is equally admired, if less quirky. Its holdings range from ice cream to insurance to condiments. It bought H.J. Heinz earlier this year, in a deal that was one of the largest in the company's history and a sure sign that Berkshire has no plans to scale back, even as Buffett approaches his 83rd birthday.”
Through a partnership with management consulting firm Hay Group, Fortune determines the rankings by using the Fortune 1000 listing and the Global 500 listing. Companies in the 26 international industries must have approximately $10 billion in revenue and rank among the 15 largest by revenue within their industry.
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