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

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

The conglomerate reached the milestone as its Class A shares rose above the level required for a $1 trillion equity valuation. Berkshire’s businesses include insurance, rail transportation, utilities, energy, manufacturing, and consumer products, making it different from the technology companies that had previously dominated trillion-dollar market-capitalization lists.

Warren Buffett has led Berkshire Hathaway since 1965, building it through insurance operations, wholly owned subsidiaries, and a large portfolio of publicly traded investments. The company’s annual reports are closely followed because Buffett explains its performance and capital-allocation decisions in unusually direct language.

The milestone concerns market capitalization, not the value of Berkshire’s assets. Berkshire also has two major publicly traded share classes, whose combined value is used in calculating the company’s total equity value.