Top 10 Largest Companies by Market Capitalisation 2024

Top 10 Largest Companies by Market Capitalisation 2024

Reading time: 8 minutes

The rise of Artificial Intelligence (AI) has seen the share prices of major companies climb considerably in recent years, increasing market value and generating substantial wealth for investors. The following companies are currently the top 10 largest companies in the world according to market capitalisation. However, as share prices move, so will the companies on the list!

Market capitalisation, or ‘market cap’, signifies the total market value of a company’s outstanding shares derived from multiplying the company’s current share price by the number of outstanding shares. Importantly, this metric determines a company’s size and influence in the stock market, helping investors rank companies by size, return potential, and risk.

As a basic example, suppose company XYZ has 3,000,000 shares outstanding and its share price trades at $10. This company’s market cap is $30 million (30 * 3,000,000). A company’s market cap will also be categorised based on size, ranging from small-cap companies (market cap between US$250 million and US$2 billion) to large-cap companies (a market value between US$10 billion and US$200 billion). Anything over US$200 billion is what’s referred to as a mega-cap company.

1. Microsoft Corp (Nasdaq; Ticker: MSFT)

Market cap: US$3.351 trillion

Founded: 1975

Year-to-Date Performance: +21.7%

221,000 employees worldwide

Despite losing its number one spot to Nvidia (NVDA) in June this year, Microsoft – a US multinational technology corporation – recently regained its crown as the largest company in the world by market cap, as Nvidia's share price took a tumble from recent all-time highs.

Undoubtedly, Microsoft remains a household name. Its continued dominance in the tech industry can be attributed to a number of factors, including its widely popular Windows operating systems and Office applications, as well as its desire to innovate. One such example is the success of its cloud computing platform, Azure, which has emerged as a major competitor to Amazon Web Services (AWS). In addition, as we enter the new age of AI, Microsoft recently launched Microsoft Copilot+ PCs, which include features such as AI-powered image creation and editing, advanced language translation, and the ability to recall instantly.

2. Apple Inc (Nasdaq; Ticker: AAPL)

Market cap: US$3.312 trillion

Founded: 1976

Year-to-Date Performance: +14.0%

161,000 employees worldwide

Apple remains the second-largest company in terms of market capitalisation, and rightly so. Apple is a household name similar to Microsoft, boasting a solid and loyal following. With its cutting-edge technology used globally, the company’s commitment to improving and innovating its products continues to drive its flagship iPhone, iPad, and Mac products. Another driver of the company’s success is its unique approach to its wearables division, including products such as AirPods and the Apple Watch, which continue to grow.

Apple also recently entered the AI landscape, announcing Apple Intelligence, or ‘Apple AI’, at Apple’s annual Worldwide Developers Conference. This features AI-driven tools for a wide selection of Apple apps, including an AI-powered update to Apple’s Siri application. 

3. Nvidia Corp (Nasdaq; Ticker: NVDA)

Market cap: US$3.060 trillion

Founded: 1993

Year-to-Date Performance: +148%

30,000 employees worldwide

Nvidia’s meteoric rise has been well documented, with sales and profit metrics consecutively surpassing market estimates. The company is a heavyweight mega-cap tech titan in AI, controlling over 80% of the share of Graphic Processing Units (GPUs) originally used for gaming and video devices.

Nvidia’s dominance in the gaming graphics card market is undeniable, and its GPUs power a significant portion of the AI industry. The increasing demand for AI processing power across various industries positions the company for continued growth.

4. Alphabet (Google) (Nasdaq; Ticker: GOOG)

Market cap: US$2.279 trillion

Founded: 1998

Year-to-Date Performance: +32%

182,000 employees worldwide

Tech giant Google rarely needs any introduction. It is the world’s most-recognised search engine and holds the fourth spot as the largest company by market capitalisation.

Some of Google's most popular services include Gmail (an email feature), Google Search (search for any information you want), Google Drive (a file storage service), and Google Photos (where you store your photos). Additional services that drive Google’s growth are its Android devices, such as phones, Chromebooks, tablets, and watches.

Google is also heavily involved in AI, releasing various Gemini-branded versions that allow two-way conversations through a chatbot. The company recently unveiled several new AI tools, such as Project Astra, AI Teammates, and VEO.

5. Amazon.Com, Inc (Nasdaq; Ticker: AMZN)

Market cap: US$2.052 trillion

Founded: 1994

Year-to-Date Performance: +32%

1.5 million employees worldwide

Although from humble beginnings as an online bookstore in 1995, e-commerce giant Amazon is the fifth-largest company in the world, according to market capitalisation. The company’s success can be attributed to its innovation and customer-centric approach, championed by founder and former CEO Jeff Bezos. Amazon’s execution of its service is world-renowned, offering an outstanding user experience with fast delivery for many of its products.

Amazon’s services are also heavily influenced by AI. For example, Alexa at home – Amazon’s voice AI – can help you answer questions, control smart home devices, play desired music, and even play games.

6. Saudi Aramco (Tadawal; Ticker: 2222)

Market cap: US$1.807 trillion

Founded: 1933

Year-to-Date Performance: -15%

70,000 employees worldwide

As the world’s largest oil producer, Saudi Aramco produces nearly a tenth of global oil output, more than 10 million barrels per day. The company is also the sixth-largest company in the world by market capitalisation; with its vast oil reserves and strategic positioning in the Middle East, its influence in the energy market is undeniable.

However, the company's long-term success will depend on adapting to the transition towards cleaner energy sources as global renewable energy consumption continues to increase significantly.

7. Meta Platforms Inc. (Nasdaq; Ticker: META)

Market cap: US$1.280 trillion

Founded: 2004

Year-to-Date Performance: +44%

67,000 employees worldwide

Meta Platforms Inc. is an iconic US multinational corporation and the seventh-largest company in the world by market capitalisation. Formerly known as ‘Facebook’, Meta is essentially an umbrella company whose core revenue stream is generated from advertising sales on its online social media platforms, which include Facebook, Instagram, and WhatsApp.

Despite facing data privacy concerns and increased competition in the social media landscape, Meta remains a major player in the tech industry.

8. Taiwan Semiconductor Manufacturing (NYSE; Ticker: TSM)

Market cap: US$922 billion

Founded: 1987

Year-to-Date Performance: +68%

76,000 employees worldwide

Founded in 1987, TSMC is a Taiwan-based multinational company specialising in contract chip manufacturing and is currently the eighth-largest company by market capitalisation.

TSMC functions as a foundry for other corporations; the company accepts a client’s chip design and employs advanced manufacturing methods to generate the actual silicon wafers (chips) on an industrial scale.

The company’s success is largely due to its technological leadership, high manufacturing yield, and customer focus.

9. Berkshire Hathaway (NYSE; Ticker: BRK.B)

Market cap: US$876.4 billion

Founded: 1839

Year-to-Date Performance: +14%

380,000 employees worldwide

Berkshire Hathaway owes most of its success to Warren Buffet and Charlie Munger. As the ninth-largest company in the world by market capitalisation, it is a vastly diversified holding company.

Insurance has become Berkshire Hathaway's core business, with GEICO, one of the largest insurance companies in the world, falling under its umbrella. However, the company's reach extends far beyond insurance. Berkshire Hathaway boasts a diversified portfolio encompassing many industries, a testament to Buffett's astute investment strategies.

10. Eli Lilly (NYSE; Ticker: LLY)

Market cap: US$808.6 billion

Founded: 1876

Year-to-Date Performance:

44,000 employees worldwide

One of the largest pharmaceutical companies in the world, Eli Lilly, was founded in 1876 and is the tenth-largest company in the world per market capitalisation. The company’s core focus is medication for Alzheimer's disease, pain, cancer, immunology, diabetes, and obesity.

Its long-term success has been built on its sustained effort to combat infectious diseases. This includes its charities abroad, insatiable drive to increase access to medicine, and its approach to sustainably expanding its business, such as reducing greenhouse gas emissions by 26% from 2020 to 2023 and purchasing nearly 30% of its electricity from renewable sources.

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Source - database | Page ID - 40355

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