Berkshire Hathaway became the first U.S. company outside the technology sector to reach a $1 trillion market value in August 2024.
The conglomerate crossed the milestone on August 28, 2024, as its Class A shares rose. Berkshire owns or invests in businesses spanning insurance, railroads, utilities, manufacturing, retail, and financial services, making its achievement different from the technology-led trillion-dollar milestones.
Warren Buffett transformed Berkshire from a struggling textile manufacturer into a diversified holding company through acquisitions and long-term investments. Insurance operations, especially GEICO and reinsurance businesses, became particularly important sources of capital.
Berkshire’s two main share classes have different prices and voting rights, but both represent ownership in the same corporation. Its market capitalization is calculated from both classes of outstanding shares.