NEW YORK - Berkshire Hathaway (BRK.A) CEO Warren Buffett just got an early birthday present.
Berkshire is the first non-tech U.S. company to join the trillion-dollar club.
Berkshire Hathaway, Buffett’s sprawling Omaha-based conglomerate, reached a market capitalization of $1 trillion Wednesday, becoming the first U.S. company outside of the tech sector to reach the milestone.
Shares of Berkshire climbed 1% Wednesday morning to hit the milestone, with shares trading at a whopping $698,901 apiece. For reference, the median sale price of a home in the United States was $439,455 in July.
This year alone, Berkshire has added around $200 billion in market value. The company’s stock rally has outpaced gains by the S&P 500 so far in 2024, returning nearly 29%, compared with the index’s 19%.
Buffett, the legendary investor known as “the Oracle of Omaha,” is turning 94 years old Friday.
Berkshire now joins the likes of Apple, Nvidia, Google, Microsoft, Amazon and Meta with its thirteen-figure market value. Elon Musk’s Tesla had previously crossed the $1 trillion threshold, but lost ground after a series of sales misses and other missteps.
