us media: buffett received a "birthday gift" in advance
2024-08-31
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source: cankaoxiaoxi.com
reference news reported on august 29according to a report on the cnn website on august 28, wall street gave buffett an early birthday present: berkshire hathaway's market value now reaches 1 trillion us dollars.
the club of $1 trillion u.s. companies has a new member — and for the first time, it’s not a tech company.
on the morning of the 27th, berkshire hathaway's stock price briefly rose, bringing the market value of the conglomerate holding company to $1 trillion.
in the list of the most valuable companies, apple, nvidia and microsoft are at the top, with market capitalizations exceeding $3 trillion. other companies with market capitalizations exceeding $1 trillion include alphabet, amazon and metaverse. among these companies, microsoft, founded in 1975, has the longest history.
berkshire hathaway was founded in 1839 as a textile manufacturing company. current ceo warren buffett acquired a majority stake in it in 1965.
buffett, who turns 94 on aug. 30, warned in a letter to shareholders earlier this year that more aggressive performances might be a thing of the past.
“berkshire hathaway should do slightly better than the average american company and, more importantly, should operate with substantially reduced risk of permanent loss of capital,” he wrote. “anything beyond ‘slightly better’ is wishful thinking, though.”
he also said in the letter: "we cannot have an eye-popping performance."
however, the company's stock price has risen by more than 13% since he published his letter to shareholders on february 24, and has risen by as much as 28% so far this year.
berkshire hathaway has been in a sell-off mode in recent months. last quarter, the company reduced its stake in apple by 50%. on the 27th, the company disclosed that it had sold nearly 25 million shares of bank of america, worth nearly $1 billion.
but the company has also made some new acquisitions. it recently bought stakes in cosmetics chain alta beauty and aircraft parts maker heiko.
