Which company became the first U.S. business outside technology to exceed a $1 trillion market value?

Berkshire Hathaway became the first U.S. business outside technology to exceed a $1 trillion market value.

Berkshire Hathaway crossed the $1 trillion threshold in August 2024, making it the first nontechnology company in the United States to reach that level. Its shares rose after the company reported strong quarterly results and continued investor confidence in its diversified businesses.

The company is led by Warren Buffett and operates through insurance, rail transportation, utilities, manufacturing, retail, and investments. Its major operating businesses include GEICO, BNSF Railway, and Berkshire Hathaway Energy.

Berkshire is unusual among the world’s largest companies because its value is not concentrated in one digital platform or hardware product. It also has two share classes, with Class A shares carrying far more voting power and a much higher per-share price than Class B shares. Market capitalization combines both classes.