Top 10 most valuable companies in the world by market cap in 2024 (2024)

Presently, there are only three companies listed on the Nasdaq stock exchange with a market capitalisation of over 3 trillion dollars, making the race for the top slot much more interesting.

Market capitalisation, a crucial metric for investors and market enthusiasts, serves as a barometer for assessing a company’s worth. It represents the total value of a company’s outstanding shares and is calculated by multiplying the current stock price by the total number of shares in circulation.

Consequently, companies with the highest market caps are widely regarded as the most valuable entities in the business world. While the majority of these top-tier corporations are headquartered in the United States, the ranking also includes notable players from Saudi Arabia and Taiwan.

Interestingly, India’s own Reliance Industries Ltd., a multinational conglomerate with diverse business interests spanning energy, petrochemicals, textiles, natural resources, retail, and telecommunications, boasts a market cap of $231.36 billion, placing it as the 46th most valuable company globally.

Here are the top 10 most-valuable global companies in 2024, by market cap:

*Please note: Market capitalisation is dynamic and fluctuates with a company’s share price and can change significantly over time or even within a single trading day. The market capitalisation mentioned is recorded as of June 6, 2024.*

1. Microsoft:

Microsoft is one of the most successful technology companies in the world and a leader in the software industry. The company, worth an estimated $2.4 trillion, is best known for its Windows operating system and Office suite of productivity applications. Its diverse portfolio, encompassing cloud computing, software, and hardware, maintains its robust market position. Its cloud platform Azure has seen exponential growth, competing closely with Amazon Web Services (AWS). Microsoft’s acquisitions, such as LinkedIn and GitHub, and its ventures into AI and quantum computing, have strengthened its market value.

2. NVIDIA Corporation (NVDA):

NVIDIA has solidified its position as a leader in the semiconductor industry, with its cutting-edge graphics processing units (GPUs) playing a crucial role in various sectors beyond gaming. The surge in AI applications and cryptocurrency mining has driven demand for NVIDIA’s technology, positioning the company as a critical player in the tech industry. With a market capitalisation of $3.011 trillion, NVIDIA’s GPUs are used by some of the world’s largest companies, including Microsoft, Amazon, and Google, and are also integrated into popular video games like Fortnite and Call of Duty.

3. Apple Inc.:

Apple is the most valuable company globally with a market capitalisation of over $3.03 trillion. Known for its innovative designs, high-quality products like the iPhone and Mac, and being driven by a growing ecosystem of services, innovations in augmented reality (AR) and its expanding role in health technology have solidified Apple’s position. Despite global economic challenges, Apple’s strong brand loyalty and consistent revenue growth from its services segment have made it a leader in the technology sector, specialising in consumer electronics and software, and have propelled it to unprecedented market heights.

4. Alphabet (Google):

Alphabet, the parent company of Google, is a technology giant with a diverse portfolio including search engines, online advertising technologies, cloud computing, software, and hardware. It is one of the top five American information technology companies and has a market capitalisation of $2.177 trillion. Google’s widespread presence in the digital world through its search engine, online services, and innovative products has significantly contributed to Alphabet’s position among the top companies by market cap. The company’s commitment to technological innovation and market leadership has enabled it to maintain its status as a dominant force in the information technology sector.

5. Amazon:

A global technology corporation, Amazon’s e-commerce empire, complemented by its strong foothold in cloud computing (AWS), in addition to the company’s diverse revenue streams, including its subscription services, entertainment and advertising, and increasing physical retail presence, maintains its position among the world’s wealthiest companies and drives its enormous market valuation of $1.886 trillion.

6. Saudi Aramco:

Saudi Aramco, the Saudi Arabian oil giant, remains a cornerstone of the global energy market. Despite the growing focus on renewable energy, the company’s extensive oil reserves and strategic investments in petrochemicals ensure its continued dominance. Having a market cap of $1,820 trillion, the significant revenue generated from oil exports, which benefit from fluctuating but generally high oil prices, makes it one of the most profitable entities worldwide. With a massive market capitalisation, Saudi Aramco is the backbone of Saudi Arabia’s economy, and its vast oil reserves and strategic location in the Middle East contribute to its position among the global market leaders.

7. Meta Platforms:

Meta Platforms, formerly known as Facebook, is a technology company with a market capitalisation exceeding $1.255 trillion. The company is renowned for its social media platforms, including Facebook, Instagram, and WhatsApp, which have become integral parts of modern digital life. Meta Platforms generates substantial revenue primarily through online advertising, leveraging its vast user base and extensive reach to deliver targeted and effective marketing solutions to businesses worldwide.

8. Berkshire Hathaway:

Berkshire Hathaway is an American multinational investment holding company with a market capitalization of $1.255 trillion. While the primary business is insurance, the company, under the leadership of Warren Buffett, one of the world’s most successful investors, has a diverse portfolio, strategic investments and holdings across different sectors, and strong leadership that has contributed to its high market capitalisation and ensured steady growth and high returns for shareholders.

9. TMSC:

Taiwan Semiconductor Manufacturing Company (TSMC) is a dominant force in the semiconductor industry, serving as the world’s largest dedicated independent (pure-play) semiconductor foundry. With a market capitalization of $845 billion, TSMC’s advanced manufacturing capabilities and strategic role in supplying critical components for a broad range of electronic devices have solidified its position among the top companies by market cap.

10. Eli Lily:

Eli Lilly and Company, with a market capitalization of $790.50 billion, is one of the largest pharmaceutical companies globally. The company boasts a significant presence, employing over 33,000 people worldwide and operating production plants in 13 countries. Additionally, Eli Lilly generates substantial annual sales, with products sold in about 125 countries, further solidifying its position as a leading player in the pharmaceutical industry.