Farewell oil, hello tech: the world’s 5 most valuable companies in 2006 and 2016

For a short amount of time, the top five most valuable companies in the world were all tech firms – possibly for the first time in history.

Image: REUTERS/Dado Ruvic

Written by

Emma LuxtonFormative Content

Published

Wednesday 21 September 2016

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From smartphones and social media, to virtual reality and artificial intelligence, the tech-oriented world we live in today looks very different to how things were just 10 years ago.

In 2006, oil giant Exxon Mobil headed the list of the world’s most valuable companies and Microsoft was the only tech firm near the top.

Fast forward to August 2016, and Apple, Google’s Alphabet, Amazon and Facebook dominate the list, while ExxonMobil is the only oil company left in the top five.

Image: Statista

For a brief moment on 1 August, after ExxonMobil’s profits tumbled, the oil giant found itself in sixth place behind Amazon and Facebook, before climbing back up.

This is thought to be the first time the five most valuable companies in the world have all been tech firms, according toSlate.

The age of technology has arrived, and investors know it.

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Written by

Emma Luxton, Formative Content

The views expressed in this article are those of the author alone and not the World Economic Forum.