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