Berkshire Hathaway Hits $1 Trillion Milestone, Buffett's Cash Reserves at Record High

Aug 30, 2024, 12:33 PM

Berkshire Hathaway, led by Warren Buffett, has reached a significant milestone by achieving a $1 trillion market capitalization. This achievement comes as Buffett celebrates his 94th birthday. The company took 44 years to reach this valuation, marking it as a notable accomplishment in the financial sector. In recent months, Buffett has been actively selling stocks, including a significant portion of his holdings in Apple and Bank of America, and increasing Berkshire's cash reserves to a record high of $278 billion. His actions have sparked discussions about potential market shifts and economic downturns. Buffett's investment philosophy, emphasizing value, patience, and long-term thinking, continues to influence investors worldwide.