) surpassed $1 trillion on Wednesday, reflecting investor confidence in the conglomerate that Warren Buffett built over nearly six decades into what many consider a proxy for the American economy.
The businesses include Geico car insurance, the BNSF railroad, Berkshire Hathaway Energy, Brooks running shoes, Dairy Queen ice cream, Ginsu knives and the World Book encyclopedia, among others. Stock sales are a major reason Berkshire’s holdings of cash and equivalents soared to $276.9 billion as of June 30, mostly in U.S. Treasury bills.When Berkshire’s value hit $1 trillion, its shares had gained more than 5,600,000% since the year Buffett took over.
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