Buffett made Berkshire Hathaway the first non-tech company to reach $1 trillion in market capitalization.

Warren Buffett’s investment arm, Berkshire Hathaway, has become the first American tech company to reach $1 trillion in valuation. So far, Apple, Microsoft, Amazon and Nvidia have all reached billion. Outside Wall Street, Aramco has done it.

The conglomerate, run by the Oracle of Omaha, is up nearly 30% this year, thanks to strong results in insurance, the firm’s core business, and economic optimism. “Berkshire did it the slowest, safest way,” says Steve Check, founder and chief investment officer of Check Capital Management. Bloomberg. His firm manages about $2 billion in assets, with Berkshire its largest asset.“It’s harder to make money the old way.”

Berkshire Hathaway has become an old friend for investors who never lets down in the face of the tech frenzy and their mind-boggling growth fueled by artificial intelligence. Berkshire’s stock has outperformed the S&P 500, the market’s main benchmark, this year. That seems like a small thing, considering that the queen of the stock market, Nvidia shares surge nearly 160%But companies like Amazon or Microsoft haven’t beaten 18% of the Wall Street index.

Buffett’s firm is the only company outside the tech sector that can compete with big tech. It’s having its best year in a decade and even On the heels of the annual Magnificent Seven performance.

Buffett transformed Berkshire Hathaway from a struggling textile manufacturer into a financial empire. He lived through his first golden age with the Oracle of Omaha, focusing on insurance and reinsurance, and his portfolio is now a beacon for the market. In fact, the company is now a holding company managing billions of dollars in investments.

Berkshire has offered annual returns of 20% since 1965, nearly double the return of the S&P 500. Buffett is considered by many to be the best market manager in history.