As Berkshire Hathaway's total market value approaches the "window paper" of breaking through the trillion dollar mark, the legendary experience of the "stock god" Buffett's life will undoubtedly add another vivid touch
According to Dow Jones market data, as of Tuesday's close, Berkshire Hathaway's total market value has approached $993 billion, just short of the last $7 billion to enter the "trillion dollar market value club". If this threshold can be quickly crossed in the future, Berkshire Hathaway is expected to become the ninth company in the world with a market value exceeding $1 trillion.
Prior to this, eight other companies that had achieved this milestone included all members of the US tech "Big Seven" - namely Nvidia, Microsoft, Apple, Amazon, Meta, Google parent company Alphabet and Tesla, as well as Middle Eastern oil giant Saudi Aramco.
Among these eight companies, except for Tesla, their current market value is still above the trillion dollar mark. Apple became the first publicly traded company to reach a trillion dollar market value milestone in the summer of 2018. Tesla's market value as of Wednesday has fallen to $668.35 billion, only about half of its peak at the end of 2021.
According to Dow Jones data, the total market value of Berkshire Hathaway has increased by approximately $218 billion since the beginning of 2024. This number is more than the total market value of iconic companies in various industries in the United States, such as American Express, McDonald's, Cisco Systems, and Wells Fargo.
FactSet data shows that Berkshire's Class A shares have risen 27.4% so far in 2024, closing at $691349 per share on Tuesday. At the same time, Berkshire's B-class stocks have risen by 29.2% this year, closing at $460.63.
The stock prices of Berkshire Hathaway's Class A and Class B stocks have set closing records for four consecutive trading days. If it can reach a market value of 13 figures, it will undoubtedly become the latest milestone in the legendary history of Berkshire Hathaway.
The predecessor of Berkshire Hathaway can actually be traced back to the 19th century, when it was a prosperous textile manufacturer in the New England region of the United States, but later fell into trouble. Buffett took control of the company in the mid-1960s and transformed it into a company primarily engaged in insurance business through several strategic acquisitions, with commercial activities in many other areas as well.
Berkshire Hathaway recently disclosed in its submitted documents that it has reduced its holdings in Apple Inc. and Bank of America. After selling these shares, Berkshire Hathaway's cash reserves reached a record high in the second quarter, reaching an astonishing $276.9 billion. At present, the company owns even more short-term Treasury bonds than the Federal Reserve.