Warren Buffett's Berkshire Hathaway is expected to become the eighth company in the United States and the ninth company globally to enter the $1 trillion club.
Yesterday, Class B shares of Berkshire Hathaway rose by 1.35% to reach $460.63. According to Dow Jones market data, Berkshire Hathaway achieved record closing prices and market cap for four consecutive trading days ending on Tuesday.
Berkshire Hathaway's market cap has increased by $218 billion this year, surpassing the existing market caps of companies such as American Express, McDonald's, Cisco Systems, and Wells Fargo & Co. Currently, Berkshire Hathaway's market cap stands at $992.9 billion, just a step away from the milestone of $1 trillion.
Berkshire Hathaway is expected to become the eighth company in the United States and the ninth company globally to enter the $1 trillion club. This club includes the US companies known as the 'Tech Seven Sisters' (Alphabet, Amazon, Apple, Microsoft, Netflix, Nvidia, Tesla), as well as the Saudi Arabian oil company Saudi Aramco.
Berkshire Hathaway's impressive performance is partly attributed to its investments in popular stock sectors. In the energy sector, Berkshire Hathaway holds a large number of shares in Occidental Petroleum. In the financial services sector, it holds significant stakes in Chubb Ltd, American Express, Visa, Bank of America, and Citigroup.
Recently, Berkshire Hathaway reduced its holdings in Apple and Bank of America.