Warren Buffett's Berkshire Hathaway reached the $1 trillion market capitalization level Wednesday — a level breached only by a handful of companies. Shares also closed above the significant level for the first time Wednesday.
On Tuesday, the combined market capitalization for Berkshire Hathaway Class A and B shares closed at a market cap of $993 billion. Combined A and B shares topped $1 trillion market cap Wednesday morning for the first time. Its market value tipped the scale at $1.001 trillion at the close of Wednesday's session.
The holding company has gained around $223.4 billion in market cap year to date, according to Dow Jones Market Data. Its nosebleed-priced class A shares ended the day with a 696,502.02 price tag while its lower-priced class B shares closed at 464.59 Wednesday.
The conglomerate joins an elite group of high-tech names that topped the $1 trillion level, including most stocks in the Magnificent Seven. They include Nvidia, Meta Platforms, Alphabet, Apple, Microsoft, Amazon.com.
The seventh member of the group, Tesla, does not hold a $1 trillion market cap but has in the past.
Warren Buffett Stock Joins Elite Club
Berkshire Hathaway Class B shares climbed nearly 1% and reached a record high Wednesday. The stock is extended from a flat base with a 430 buy point. Shares have climbed 30% this year so far.
For those investors with deep pockets, its class A shares are in the buy zone of a flat base. That zone reaches up to 709,912.14.
Analysts forecast Berkshire Hathaway's profit will grow 17% in 2024 then dip 1% in 2025.
Berkshire Hathaway's largest holdings by share count include Bank of America, Apple, Coca-Cola, Kraft Heinz and Occidental Petroleum.
The smaller holdings of Warren Buffett and Berkshire include American Express, Sirius XM, Chevron and Nu Holdings.
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