In recent years, the most valuable companies in the world have seen remarkable growth, with seven publicly traded companies reaching market capitalizations of $1 trillion or more. The majority of these companies hail from the tech sector, offering products and services that have become integral to consumers’ daily lives. Many of these companies have also been recognized for their exceptional performance in the stock market.
Nvidia briefly claimed the title of the world’s most valuable company earlier in 2024, surpassing tech giants like Microsoft and Apple. This surge in value was driven by a surge in demand for artificial intelligence (AI) technology. Since joining the $1 trillion club in May 2023, Nvidia has added over $2 trillion in market value.
Berkshire Hathaway, led by Warren Buffett, became a trillion-dollar company in August 2024, making it the only non-tech company on the list.
Understanding Market Capitalization
Market capitalization represents the total value of a company’s outstanding shares. It can be calculated by multiplying a company’s stock price by its shares outstanding. For example, a company with a $10 stock price and 1 billion shares outstanding would have a market cap of $10 billion.
Market cap is a key metric used to determine a company’s value at a specific point in time.
Below is a list of the largest publicly traded companies that are part of the trillion-dollar club.
List of trillion-dollar companies
*Market cap data as of Aug. 29, 2024.
1. Apple (AAPL)
Apple is renowned for its consumer tech products and holds one of the most recognizable brands globally. The company reported over $200 billion in iPhone sales in fiscal 2023, with total sales reaching $383 billion. Warren Buffett’s Berkshire Hathaway is a major shareholder of Apple, with Buffett praising the company’s business model despite reducing Berkshire’s stake in 2024.
- Market cap: $3.51 trillion
- Stock price: $231.11
2. Microsoft (MSFT)
Microsoft is best known for its software suite, including Microsoft Office. The company achieved nearly $212 billion in sales during fiscal 2023. Microsoft completed a $69 billion acquisition of Activision Blizzard in October 2023 and is a prominent supporter of OpenAI, the owner of ChatGPT.
- Market cap: $3.11 trillion
- Stock price: $419.00
3. Nvidia (NVDA)
Nvidia, a semiconductor company, entered the trillion-dollar club in May 2023, riding the wave of AI technology growth. The company designs cutting-edge chips for AI systems, leading to a significant increase in its share price. Nvidia generated approximately $27 billion in revenue in fiscal 2023 and is projected to surpass $120 billion in sales in 2024.
- Market cap: $3.03 trillion
- Stock price: $123.16
4. Alphabet (GOOG and GOOGL)
Alphabet, the parent company of Google, primarily generates revenue from online advertising, surpassing $307 billion in total revenue. Google also operates a cloud business, owns YouTube, and engages in various other ventures categorized as “other bets.”
- Market cap: $2.04 trillion
- Stock price: $166.38
5. Amazon (AMZN)
Amazon, the world’s largest online retailer, has expanded its reach with Amazon Web Services, a significant player in the cloud services market. In 2023, Amazon recorded total sales of around $575 billion, with AWS contributing over $90.8 billion. Jeff Bezos, Amazon’s co-founder, ranked as the third-richest individual in August 2024.
- Market cap: $1.81 trillion
- Stock price: $172.58
6. Meta Platforms (META)
Formerly known as Facebook, Meta Platforms re-entered the trillion-dollar club in January 2024. The company recorded nearly $135 billion in total revenue in 2023, witnessing a significant surge in its stock price. In addition to Facebook, Meta owns Instagram and WhatsApp, positioning itself as a key player in the AI landscape.
- Market cap: $1.33 trillion
- Stock price: $524.32
7. Berkshire Hathaway (BRK.A and BRK.B)
Berkshire Hathaway, led by Warren Buffett, is a conglomerate with diverse interests across industries such as insurance, railroads, and retail. The company’s investment portfolio includes stakes in major companies like Apple, Coca-Cola, American Express, and Chevron.
- Market cap: $1.0 trillion
- Stock price: $464.35
Editorial Disclaimer: All investors should conduct their own research before making investment decisions. Past performance is not indicative of future results.