Warren Buffett’s multinational conglomerate is the only non-technology company to reach a market capitalization of one trillion dollars.
As Knewz.com has learned, the 94-year-old man nicknamed the “Oracle of Omaha,” who turned a struggling textile company into Berkshire Hathaway in the 1960s, saw his stock price rise 0.8 percent to $696,502.02.
Overall, the company has gained 28% since the beginning of 2024, crossing the $1 trillion mark and significantly outperforming the S&P 500’s 18% gain.
To achieve this milestone, Buffet, known for his long-term perspective, wit and ability to solve complex economic puzzles, took on what is now known as old economy trading.
One of the most important companies under Buffet’s umbrella is Berkshire Hathaway Energy, which owns 92 percent of Berkshire Hathaway shares as well as energy generation plants in the UK and Canada.
Brooks Running Shoes is one of the oldest companies in the Berkshire Hathaway group. It was founded as a small company in Philadelphia, but in 2017 it was able to increase its retail assortment and thus its market share by 25%. Berkshire Hathaway bought the company in 2011.
Dairy Queen Ice Cream was founded on August 4, 1938, in Kankakee, Illinois, after father and son experimented with a soft, milk-like product. Today, the 80-year-old concept exists as a franchise with over 7,500 locations in 20 countries.
On October 21, 1997, Dairy Queen became part of Berkshire Hathaway when Buffet’s purchase of $585 million in cash and stock was considered a worthwhile investment for the multinational corporation.
“Ginsu knife sets, originally designed by Ed Valenti and Barry Becher, have been a mainstay in the cutlery industry for over 40 years. Back then, they were considered some of the sharpest knives on the market and were introduced to millions of American families through (then) revolutionary infomercials,” says Ginsu Brands.
Other sources state that the knives in these infomercials were not the best quality on the market, but that the quality has improved thanks to some changes in ownership of the brand.
One of these changes of ownership occurred when the Scott & Fetzer Company, on behalf of its parent company Berkshire Hathaway, bought the cutter company for around $400 million in early 1986.
The website states that the company is one of the “best known cutlery brands on the market”.
Another rather unexpected acquisition that contributed to the growth of the economic giant is that of the World Book Encyclopedia.
The company was founded in 1917 and published a new edition every year from 1925. By 1978, the company, with its 60,000 employees, sold more copies than Britannica.
In 1985, the Scott & Fetzer Company again worked for Berkshire Hathaway and added the World Book Encyclopedia to its ranks.
Not to be forgotten are the auto insurance company Geico, founded in 1936, and the BNSF Railroad with 36,000 employees and 33,400 miles of track in 28 states (founded in 1995).
Analyst Andrew Kligerman says the newly achieved milestone is “a tribute to Mr. Buffet and his management team, as companies in the ‘old economy’…” WOWT News.
