<\/p>\n
Warren Buffett\u2019s Berkshire Hathaway holding company briefly crossed US$1 trillion in market value Wednesday, making it the first non-tech firm on Wall Street to pass the milestone.<\/p>\n
Buffett, who turned 94 today, has been chair of Berkshire Hathaway since 1970, transforming it from a small textile company into one of the world\u2019s most valuable firms, and turning him into one of the world\u2019s richest men.<\/p>\n
On Wednesday, Berkshire Hathaway\u2019s market capitalisation briefly crossed US$1 trillion in early trading, putting it in an exclusive club alongside tech titans like Apple, Nvidia and Microsoft.<\/p>\n
It is the only publicly-traded, non-tech firm other than Saudi Arabia\u2019s state-owned oil company, Saudi Aramco, to hit such heady heights.<\/p>\n
Many analysts consider the electric vehicle maker Tesla, which previously hit a US$1 trillion market capitalisation, to be a technology company.<\/p>\n
Berkshire Hathaway\u2019s Class A shares closed up 0.8 per cent, valuing the company at just under US$994 billion.<\/p>\n
The Nebraska-based firm\u2019s portfolio spans a vast array of sectors, including insurance, railroads and retail.<\/p>\n
Buffett, who has been dubbed the \u201cSage of Omaha,\u201d popularised a dispassionate, long-term approach to investing that ran counter to the short-term thinking of many market players at the time.<\/p>\n
Buffett has been in a selling mood of late, convincing Berkshire Hathaway to dump large quantities of stock in some of its biggest holdings, including Apple and Bank of America, accumulating vast cash reserves.<\/p>\n
The firm has plowed its growing cash pile into government bonds to such an extent that it now owns more short-term US Treasury bills than the Federal Reserve.<\/p>\n
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Warren Buffett\u2019s Berkshire Hathaway holding company briefly crossed US$1 trillion in market value Wednesday, making it the first non-tech firm on Wall Street to pass the milestone. Buffett, who turned 94 today, has been chair of Berkshire Hathaway since 1970, transforming it from a small textile company into one of the world\u2019s most valuable firms, […]<\/p>\n","protected":false},"author":1,"featured_media":2375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/08\/Berkshire-Hathaway-100-1140x445.jpeg",1140,445,true],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/08\/Berkshire-Hathaway-100-463x348.jpeg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/08\/Berkshire-Hathaway-100-300x200.jpeg",300,200,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2024\/08\/Berkshire-Hathaway-100.jpeg",1200,800,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=2374"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2374\/revisions"}],"predecessor-version":[{"id":2376,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/2374\/revisions\/2376"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/2375"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=2374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=2374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=2374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}