Berkshire Hathaway, led by the renowned investment guru Warren Buffett, has surpassed a market capitalization of $1 trillion for the first time.
The New York Times reported that Berkshire Hathaway’s Class A shares closed at $696,502.02, rising 0.75% from the previous trading day. As a result, Berkshire Hathaway became the first U.S. company, excluding major tech firms, to reach a $1 trillion market cap.
Berkshire Hathaway’s stock has performed exceptionally well this year, driven by strong results in its insurance sector and an optimistic economic outlook. It has significantly outperformed the S&P 500 index.
Although Buffett had cautioned that Berkshire Hathaway wouldn’t see a “remarkable performance,” the company’s stock has surged more than 30% this year.
A research analyst, Kevin Hill, described reaching a $1 trillion market cap as an outstanding achievement, noting that “this figure reflects the long-term success of both Berkshire Hathaway and Buffett.”
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