Berkshire Hathaway became the first publicly traded U.S. company outside the technology sector to reach a $1 trillion market capitalization in August 2024.
Berkshire is a diversified holding company led for decades by investor Warren Buffett. Its businesses include insurance, railroads, utilities, energy, manufacturing, retailing, and significant investments in publicly traded companies.
Berkshire crossed the $1 trillion mark on August 28, 2024, after its Class B shares rose. The company’s unusual structure makes it different from a conventional operating corporation: its insurance operations provide investable funds, while its many subsidiaries generate earnings across unrelated industries.
The “outside technology” description matters because several technology companies had already reached the milestone. Berkshire’s achievement showed that a century-old conglomerate could join the market-capitalization elite through disciplined acquisitions, operating businesses, and long-term investing.