Berkshire Hathaway became the first U.S. financial-services company to exceed a $1 trillion market capitalization in 2024.
Berkshire Hathaway crossed the milestone in August 2024, shortly before Warren Buffett’s 94th birthday. Its valuation reflected a diversified collection of operating businesses, investments, insurance operations, and a very large cash and Treasury-bill position.
The company evolved from a struggling textile manufacturer into a conglomerate under Buffett and longtime partner Charlie Munger. Major holdings and subsidiaries have included GEICO, BNSF Railway, Berkshire Hathaway Energy, and large publicly traded investments.
Berkshire is often classified as a financial company because insurance and investment activities are central to its structure. The milestone does not mean it was the first financial institution anywhere to reach $1 trillion; the wording specifically concerns a U.S. financial-services company.