Farewell oil, hello tech: the world’s 5 most valuable companies in 2006 and 2016
![People are silhouetted as they pose with mobile devices in front of a screen projected with a Facebook logo, in this picture illustration taken in Zenica October 29, 2014. Facebook Inc warned on Tuesday of a dramatic increase in spending in 2015 and projected a slowdown in revenue growth this quarter, slicing a tenth off its market value. Facebook shares fell 7.7 percent in premarket trading the day after the social network announced an increase in spending in 2015 and projected a slowdown in revenue growth this quarter. REUTERS/Dado Ruvic (BOSNIA AND HERZEGOVINA - Tags: BUSINESS SCIENCE TECHNOLOGY BUSINESS LOGO) - RTR4C0UZ](https://assets.weforum.org/article/image/large__bLWDo2RvHLEnYAWuLIgfWGT3mq4thkz-vOk6KhEPRE.jpg)
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
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Oil and Gas
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.
![The age of tech](https://assets.weforum.org/editor/FIhOIi_9uEnfx-v4a3UKF9pjC81nUAoIbfK6xpZWJBg.jpg)
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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