Berkshire Hathaway became the first U.S. non-technology company valued at $1 trillion in August 2024.
The milestone was reached when Berkshire Hathaway’s market capitalization passed $1 trillion, making it one of the world’s most valuable publicly traded businesses. The company is widely associated with Warren Buffett, who became its chief executive in 1965 after acquiring control of the struggling textile manufacturer.
Buffett transformed Berkshire into a diversified holding company. Its major businesses and investments have included insurance, railroads, utilities, energy, manufacturing, retail, and large stakes in publicly traded corporations. Berkshire’s insurance operations, especially GEICO and reinsurance businesses, have provided capital for much of that expansion.
The milestone is sometimes confused with Berkshire’s book value or annual revenue. Market capitalization is calculated by multiplying the share price by shares outstanding, while book value measures accounting net worth. Berkshire also has two publicly traded share classes, Class A and Class B, with different prices and voting rights.