Most investors are probably familiar with Buffett's legend as Berkshire has delivered a compound annual return of 19.8% for nearly 60 years, trouncing the S&P 500 index in the process. $1,000 invested in Berkshire when Buffett took over would be worth more than $40 million today.

Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B) has had quite a run since the investment icon took the helm almost 60 years ago. And the firm hit a major milestone Aug. 27. Berkshire’s financial performance has been stellar throughout Buffett’s tenure.

Berkshire Hathaway's market value closed above $1 trillion for the first time 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.

It’s been a matter of a well thought out strategy prosecuted for seven decades with discipline, consistency, and unusual insight,” Oaktree’s Howard Marks said.

Warren E. Buffett’s Berkshire Hathaway climbed past a market valuation of $1 trillion on Wednesday, joining a small club of mammoth companies dominated by tech firms like Nvidia and Microsoft.

Warren Buffett's company has a resilient business model and fortress balance sheet. The stock is trading at one of its highest valuations in years. Berkshire Hathaway is the eighth non-state-owned company to reach the four-comma club milestone.

Warren Buffett has added around $6 billion to Berkshire Hathaway's sizable cash pile this summer with a string of Bank of America stock sales since mid-July.