It's interesting that I hear this story often, but then you look at Berkshire Hathaway, and huge pieces of the company now, were at the time just a piece of another company that they took over that they weren't really that interested in to begin with (ex: Real estate div)
Which demonstrates that a single company will eventually grow too large. Berkshire is successful because it owns wholly independent companies that don't need to engage in political infighting against each other for resources. We're seeing the wild success of that model with Embracer Group.