It is the first non-tech company to reach this valuation on Wall Street.
Berkshire Hathawaythe inverter vehicle Warren Buffettthe nonagenarian investor commonly called the Oracle of Omahaarrived this Wednesday for the first time a trillion dollar market capitalization (895.120 million euros), becoming the first company to reach this milestone outside of Wall Street's technology giants.
Berkshire Hathaway Class A shares, which They have revalued about 27% so far this yearrose just over 1.2% to trade at an intraday high of $699,532.50, pushing the company's market capitalization above the trillion-dollar threshold.
Berkshire Hathaway's Class A shares are among the most expensive on Wall Street because their value has never been split, although the company has decided to issue Class B shares in 1996 at a price equivalent to one thirtieth of a class A share to provide access to investors with lower purchasing power.
Unlike the six other companies that have previously managed to join the trillion-dollar club (Apple, Nvidia, Microsoft, Alphabet, Amazon and Meta), Berkshire maintains a more targeted approach to the so-called classical economywith stakes in transportation companies, such as BNSF Railway, insurance companies, such as Geico Insurance, fast food chains, such as Dairy Queen, and soft drink maker Coca-Cola.
Although Berkshire Hathaway was originally a textile-related company, since it was taken over by Warren Buffett in the mid-1960s, it has expanded its presence into a multitude of sectors until it becomes the profitable conglomerate it is today.
Buffett, who This Friday I will be 94 years oldhas a fortune estimated at around 146.5 billion dollars (131.135 million euros) and still controls about 15% of the companyalthough he has donated billions of dollars of Berkshire Hathaway stock to charity, including the Bill and Melinda Gates Foundation.