Warren Buffet’s Group Berkshire has become the first publicly traded Us company outside the tech sector to be valued at $1tn, joining an exclusive club dominated by Apple and Microsoft. The conglomerate has been transformed by Buffett over six decades powering into almost every corner of the US economy, including railcars over 32, 000 miles of track across the US, owns parts manufacturer for Boeing, and also runs one of the biggest US motor insurers.

Buffet, now 94, spent a year selling stocks including half the stake in Apple that triggered large profit for Berkshire. Shareholders have rewarded Berkshire, pushing its valuation up more than $200bn this year. Their common stock is up nearly 30 per cent  since the start of January 2024, outpacing the  S&P 500. The A shares stood at $695,970, up 0.7 per cent. The company’s cash pile  soared to a record $277bn in June.

Buffet first invested in Berkshire in 1962,  taking control of the textile maker three years later. He and Charlie Munger turned company into an insurance group, ice cream seller Dairy Queen and paint maker Benjamin Moore, with several other companies. Buffet’s heir apparent is Berkshire executive Greg Abel.