According to a report on the CNN website on August 28, Wall Street gave Buffett an early birthday gift: Berkshire Hathaway now has a market value of US$1 trillion. America’s $1 trillion club has a new member — and for the first time, it’s not a technology company. On the morning

According to a report on the CNN website on August 28, Wall Street gave Buffett an early birthday gift: Berkshire Hathaway's market value now reaches US$1 trillion.

America’s $1 trillion club has a new member—and for the first time, it’s not a technology company.

In the list of the most valuable companies, Apple , Nvidia and Microsoft are at the top, with market values ​​exceeding US$3 trillion. Other companies with market values ​​exceeding US$1 trillion include Alphabet Inc., Amazon.com Inc. and Metaverse Platform Inc. Among these companies, Microsoft, founded in 1975, has the longest history.

Berkshire Hathaway was founded in 1839 as a textile manufacturing company. The company's current CEO, Warren Buffett, acquired a majority stake in it in 1965.

At the beginning of this year, Buffett warned in a letter to shareholders that even more soaring performance may be a thing of the past. Buffett will turn 94 on August 30.

He wrote: "Berkshire Hathaway should do slightly better than the average U.S. company and, more importantly, should run with a significantly reduced risk of permanent loss of capital. Still, anything beyond' Anything slightly better is wishful thinking."

He also said in the letter: "We are unlikely to have eye-popping performance."

However, since he published his letter to shareholders on February 24, the company has been The stock price has risen by more than 13%, and the year-to-date increase is as high as 28%.

Berkshire Hathaway has been in selling mode in recent months. Last quarter, the company reduced its stake in Apple by 50%. On the 27th, the company disclosed that it had sold nearly 25 million shares of Bank of America, worth nearly US$1 billion.

But the company has also made some new acquisitions. It recently acquired stakes in cosmetics chain Alta Beauty and aircraft parts maker Haike.(Compiled/Madan)

(Source: Reference News Network )