Berkshire Hathaway joins Trillion-Dollar Club as Seventh US Company in Market Value

    DUBAI, UAE, September 11, 2024 /24-7PressRelease/ -- ABBO News Exclusive: Berkshire Hathaway Inc. has achieved a historic milestone, closing above a $1 trillion market valuation for the first time on 28th August, a testament to the enduring strength and resilience of the conglomerate built by Warren Buffett over nearly six decades. This remarkable achievement highlights investor confidence in Berkshire Hathaway, often regarded as a bellwether for the American economy.

Joining an elite group of U.S. companies—primarily from the technology sector—including Apple, Nvidia, Microsoft, Alphabet Inc, Amazon.com, and Meta Platforms, Berkshire Hathaway stands as a symbol of consistent growth and prudent management.

Berkshire's Class A shares closed at $696,502.02, a 0.7% increase, while the more widely held Class B shares saw a 0.9% rise, closing at $464.59. The achievement comes as Buffett, who turned 94 on 30th August, continues to steer the Omaha-based conglomerate, which he has transformed from a struggling textile company into a powerhouse encompassing a diverse range of businesses, including Geico, BNSF Railway, Berkshire Hathaway Energy, Brooks, Dairy Queen, Ginsu, and World Book.

The company's operating businesses generated $22.8 billion in profit in the first half of 2024, marking a 26% increase from the previous year. Additionally, Berkshire Hathaway's cash reserves have grown to an impressive $276.9 billion, further solidifying its financial strength.

ABBO News reports that despite recent sales of Apple and Bank of America stocks, Berkshire Hathaway remains a formidable force in the market. Steve Check, president of Check Capital Management, praised Buffett's systematic approach, noting the conglomerate's ability to thrive in varying economic conditions.

As Berkshire Hathaway celebrates this milestone, ABBO News highlights the continued confidence investors have in the conglomerate's future, marking it as a substantial investment for those with a long-term perspective.

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