Which company was the first non-technology U.S. business to surpass a $1 trillion market cap?

Berkshire Hathaway was the first non-technology U.S. business to surpass a $1 trillion market capitalization.

Berkshire Hathaway crossed the $1 trillion mark in August 2024. The company is an unusually diversified conglomerate, combining insurance operations with major investments and wholly owned businesses in industries such as railroads, utilities, manufacturing, and consumer products.

Its rise to the milestone followed a long period of compounding under Warren Buffett, who became chairman and chief executive in 1965. Berkshire’s insurance float supplied capital for investments, while its decentralized structure allowed many subsidiaries to operate independently.

The company is often associated with technology holdings because it has owned large stakes in firms such as Apple. However, Berkshire itself is classified as a diversified financial and industrial conglomerate rather than a technology company.