Berkshire Hathaway was the first U.S. business outside technology to surpass a $1 trillion market capitalization.
Berkshire Hathaway passed the $1 trillion market-capitalization mark in August 2024. The milestone made it the first U.S. company outside the technology sector to join the trillion-dollar group. Its share price reflected the value investors placed on a diversified collection of insurance, industrial, energy, railroad, and consumer businesses.
The company is best known for its insurance operations and for the investment style associated with Warren Buffett, who became its chairman and chief executive after acquiring control in the 1960s. Berkshire used insurance float and retained earnings to build a broad portfolio of subsidiaries and investments.
Berkshire’s classification can cause confusion because it owns substantial technology-related investments. The company itself is generally categorized as a diversified holding company or financial conglomerate, rather than as a technology company.