- Berkshire Hathaway's Billion-Dollar Venture Company
Berkshire Hathaway, led by Warren Buffett, ace investor, becomes the first non-tech American corporation to reach a market value of $1 trillion, gaining roughly 1% during morning trading in New York.
Until now, tech titans such as Apple, Microsoft, Amazon, Nvidia, Meta (previously known as Facebook), and Alphabet (Google's guardian) were the only members of this select club. Tesla momentarily joined but eventually dipped below this ceiling. Presently, Apple stands atop this list, boasting an astounding $3.5 trillion market value.
Berkshire Hathaway's diverse portfolio comprises Geico (an insurance giant), BNSF (a railroad company), Dairy Queen (a famous fast-food chain), Duracell (a reputable battery maker), and stakes in numerous other businesses.
Berkshire Hathaway began life as a modest textile company that was bought by the now 93-year-old Buffett in the 60s. Since then, it's blossomed into a formidable investment firm. Buffett's keen business acumen ensured that Berkshire's investments consistently outperformed the typical stock market performance over the years.
Lately, Buffett has been beefing up Berkshire's cash reserves and grumbling about a scarcity of enticing investment prospects. His strategy has always been to invest in budding companies at relatively reasonable prices. Berkshire maintains a substantial share in Apple, although some of it was recently offloaded.
Despite Berkshire Hathaway's recent focus on building cash reserves, the company still holds a significant stake in Apple. Despite reaching the $1 trillion milestone in New York City, Berkshire Hathaway, based in Omaha, Nebraska, remains outside the tech giants' territory in New York City.
