Berkshire Hathaway became the first non-technology U.S. company to reach a $1 trillion market capitalization in 2024.
The conglomerate crossed the milestone in August 2024 as its publicly traded stock rose. Warren Buffett has led Berkshire Hathaway for decades, using it as a holding company for insurance businesses, industrial companies, utilities, railroads, and large equity investments.
Berkshire’s history began with textile manufacturing, but Buffett and Charlie Munger transformed it into a diversified conglomerate. Its insurance operations, especially property-and-casualty businesses, supplied capital for acquisitions and investments.
Berkshire’s market value is unusual because it is not primarily identified with internet platforms or semiconductor technology. The company also has two major share classes, Class A and Class B, whose different prices and voting rights can make stock comparisons confusing.