Which company became the first non-technology U.S. company valued at more than $1 trillion?

Berkshire Hathaway became the first non-technology U.S. company valued at more than $1 trillion in August 2024.

The conglomerate crossed the milestone on August 28, 2024, as its Class A shares rose. Berkshire’s businesses span insurance, railroads, utilities, energy, manufacturing, and retail, making the achievement notable because the biggest market-cap milestones had increasingly been associated with technology companies.

Warren Buffett transformed Berkshire from a struggling textile manufacturer into a diversified holding company. Its insurance operations, including GEICO and reinsurance businesses, provide capital that Berkshire can invest, while major holdings and operating subsidiaries add further value.

Berkshire has two publicly traded share classes. Class A shares are extremely expensive individually, while Class B shares represent a smaller economic interest and are more accessible. Market capitalization combines both classes, so the milestone concerns the whole company rather than the price of one Class A share.