Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks to reporters during the company’s annual shareholder meeting in Omaha, the United States, on May 4, 2019. (Photo/Xinhua)
The market capitalization of Warren Buffett’s Berkshire Hathaway exceeded the $1 trillion mark on Wednesday, making it the first non-technology company in the United States to break that mark.
The company has now joined the trillion-dollar club along with six other US technology giants: Apple, Nvidia, Microsoft, Google parent company Alphabet, Amazon and Facebook parent company Meta.
To date, Berkshire shares have gained more than 28 percent in 2024, well above the S&P 500’s gain of 18 percent.
The milestone is “a testament to the company’s financial strength and value,” said Cathy Seifert, Berkshire analyst at CFRA Research. “This is significant at a time when Berkshire is one of the few conglomerates still in existence.”
Buffett, chairman and CEO, has transformed Berkshire from a small textile company into one of the world’s most valuable companies, covering broad sectors including insurance, railroads, retail, manufacturing and energy.
Buffett, the “Sage of Omaha,” has headed the Omaha, Nebraska-based company since 1965. He turns 94 on Friday.
