Warren Buffett Just Joined the $1 Trillion Market-Cap Club. Here's What You Need to Know
You did it, Warren. Berkshire Hathaway (NYSE: BRK.A) just surpassed a trillion-dollar market cap, the eighth non-state-owned company in history to reach this milestone. It started from a small textile mill over 50 years ago, and now the small team of investors and business operators headed up by legendary investor Warren Buffett has just reached a huge numerical milestone. It now has a larger market cap than technology stalwarts such as Tesla and Taiwan Semiconductor Manufacturing.
Not bad for a stodgy insurance and investment conglomerate from the heartland of America. Despite Buffett getting on in years (he is now 93 years old), the conglomerate is in as good of a spot as ever. Here's what the milestone means for the stock and why Berkshire Hathaway is one of the most resilient businesses in the world.
Back in the late 60s, Warren Buffett took control of Berkshire Hathaway by buying up 49% of its shares. At the time, it was a struggling textile mill, and he only had to pay $8.3 million for the stake. That put Berkshire Hathaway's total market value at around $17 million.
Source Fool.com
Berkshire Hathaway Inc. A Stock
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