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Reuters

The market value of Berkshire Hathaway surpassed US$1 trillion on Wednesday, reflecting investor confidence in the conglomerate that Warren Buffett built over nearly six decades into what many consider a proxy for the American economy.
Berkshire joined six other companies, mainly from the technology sector, above US$1 trillion: Apple, Nvidia, Microsoft, Google parent Alphabet, Amazon.com and Facebook parent Meta Platforms.
The valuation is based on Berkshire’s 553,234 class A and 1,325,192,508 class B shares outstanding as of July 23. Berkshire has slowed its stock repurchases this year.
In morning trading, the class A shares traded up 0.7 per cent at US$696,005.94.
Berkshire’s dozens of insurance, energy, manufacturing, retail and service businesses generated US$22.8 billion of profit in the year’s first half, up 26 per cent from a year earlier.
The businesses include Geico car insurance, the BNSF railroad, Berkshire Hathaway Energy, Brooks running shoes, Dairy Queen ice cream, Ginsu knives and the World Book encyclopaedia, among others.
Berkshire also has a huge stock portfolio led by Apple, though it has sold more than half its Apple shares this year.

Stock sales are a major reason Berkshire’s holdings of cash and equivalents soared to US$276.9 billion as of June 30, mostly in US Treasury bills.
Buffett, who turns 94 on August 30, has run Berkshire since 1965.
When Berkshire’s value hit US$1 trillion, its shares had gained more than 5,600,000 per cent since the year Buffett took over.
That’s about 20 per cent annually, nearly double the annualised gain in the Standard & Poor’s 500 including dividends.
Buffett still owns more than 14 per cent of the Omaha, Nebraska-based company, despite having donated more than half his shares to charity since 2006.
As of Tuesday, Buffett’s fortune was about US$144.9 billion, making him the world’s sixth-richest person, Forbes magazine said.
Through Tuesday, Berkshire shares had risen 27 per cent this year, compared with the S&P 500’s 18 per cent gain.


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Warren Buffett’s Berkshire Hathaway tops US$1 trillion, joining tech firms, Apple, Nvidia

Berkshire Hathaway’s market value hit $1 trillion, reflecting investor confidence in Warren Buffett’s conglomerate, which has outperformed the S&P 500. Photo: AP

Berkshire Hathaway has surpassed US$1 trillion in market value, joining elite tech firms. Photo: Reuters

Apple, Nvidia lead sell-off as stock markets plunge on US recession fears

Traders work on the floor of the New York Stock Exchange  ahead of the closing bell in New York on Monday. Photo: AFP

A television screen on the floor of the New York Stock Exchange indicates another sell-off. Photo: AP

A smartphone displays the Nvidia logo. Photo: Reuters

Nvidia CEO Jensen Huang at the Colorado Convention Centre in Denver last week. Photo: AP 

Berkshire Hathaway chairman Warren Buffett at the Berkshire Hathaway shareholders’ meeting in Omaha, Nebraska in May. Photo: Reuters 

China’s Nvidia wannabe, Tencent-backed AI chip start-up EnFlame, flags IPO intention

Enflame products on displayed at the World Artificial Intelligence Conference in Shanghai in July. Photo: Che Pan

Buffett’s Berkshire Hathaway cuts stake in world’s No 1 EV maker BYD again, selling 1.96 million shares for US$58.9 million

Warren Buffett, chairman and CEO of Berkshire Hathaway. Photo: AP Photo 

Berkshire Hathaway trims its stake again in the Chinese electric vehicle maker BYD. Photo: Bloomberg

Warren Buffett prefers Berkshire Hathaway invest in Japan than Taiwan due to US-China rivalry, faults US for bank crisis

Warren Buffett. Photo: TNS

Shareholders watch Warren Buffett from the overflow room during the Berkshire Hathaway annual meeting. Photo: AP

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Warren Buffett’s conglomerate joins tech giants like Apple, Nvidia, and Microsoft with a market value of US$1 trillion


Warren Buffett’s conglomerate joins tech giants like Apple, Nvidia, and Microsoft with a market value of US$1 trillion.
