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Shares in billionaire Warren Buffett’s investment conglomerate, Berkshire Hathaway, continued their New Years rally Thursday, taking the company’s market value to a new high of over $ 700 billion – and putting it within reach of the trillion dollar milestone.

Important facts

Berkshire Hathaway stocks rose over 1% Thursday and rebounded for the fourth straight day as investors continued to switch from high-growth stocks and into safer bets.

Berkshire Class B stocks rose more than 4% in the first week of 2022 and are now near all-time highs, giving the company a market valuation of more than $ 700 billion.

Oracle of Omaha’s famous investment conglomerate has a portfolio of more than 60 companies including Geico, Duracell and Dairy Queen; It is also involved in technology giant Apple.

Berkshire could now be on its way to becoming the next trillion dollar company to own Tesla (valued at $ 1.07 trillion), Amazon ($ 1.66 trillion), Microsoft ($ 2.37 trillion) Trillion US dollars) and Apple (2.84 trillion US dollars).

With the Federal Reserve more aggressively cutting its pandemic-era incentives and raising interest rates this year, Berkshire Hathaway will benefit from broader market rotation into value and cyclical stocks, which will benefit from a successful economic rebound.

Berkshire’s stock rose 30% over the past year, slightly outperforming the S&P 500 benchmark index’s 27% gain.