Billionaire Warren Buffett's corporation surpasses the $1,000 billion mark

Billionaire Warren Buffett has been Chairman of the Board of Directors of Berkshire Hathaway since 1970, helping the company grow from a small textile firm into one of the most valuable corporations in the world and himself one of the richest people in the world.

Billionaire Warren Buffett

AFP reported that Berkshire Hathaway's market capitalization surpassed $1,000 billion in trading on August 28, becoming the first Wall Street company to do so after technology giants such as Apple, Nvidia and Microsoft.

Berkshire Hathaway's Class A shares closed up 0.8% while Class B shares rose 0.9%.

Globally, only Saudi Aramco, the state-owned oil company, is a non-tech public company that has reached that milestone. Tesla’s market capitalization has also surpassed the $1 trillion mark, but many analysts consider it a technology company.

Berkshire Hathaway invests in many industries, from insurance to retail and railroads. Billionaire Warren Buffett is considered a legendary investor, specializing in long-term investments instead of short-term ones like most people. The 94-year-old billionaire is also a famous philanthropist, spending billions of dollars on charity activities.

Warren Buffett's company sells Apple shares heavily

Recently, Mr. Buffett began selling large amounts of shares in some of the largest companies such as Apple and Bank of America. Berkshire Hathaway then used the money to buy government bonds. According to AFP, the group now owns more short-term US government bonds than the Federal Reserve.

Source: https://thanhnien.vn/tap-doan-cua-ti-phu-warren-buffett-vuot-moc-1000-ti-usd-185240829091123337.htm