Amazon has surpassed Alphabet, the parent company of Google, becoming the second most valuable company in America, which comes as a surprise to many who don't keep a close eye on the financial landscape.
The world of huge corporations and their struggles for dominion is hard for many to comprehend. It goes way beyond the day-to-day function of a normal business, to a realm of stratospheric monetary figures that are hard to attach meaning to. At the top of the corporate food chain, subtle shifts in brand loyalty and a small bit of bad public relations can cost a company billions of dollars, and its spot on the leader board.
On Tuesday, Amazon surpassed Google's parent company to become the second most valuable company in the world judging by market cap, according to a report by CNN Money. Jeff Bezos, the founder, hold a personal fortune of about $130, making him the wealthiest individual in the world. Still, life in his ecosystem of megalithic corporations is not stable, as he is at constant risk of losing his footing.
That fact was proven this week, as Facebook tumbled down the list of valuable companies to number seven, according to a report by CNBC. The social media giant was hurt badly by reports that it allowed Cambridge Analytica to misuse 50 million users' personal data for political gain.
In the shifting world of big business, it can be difficult to keep track of who is on top and who is on their way up. Here is a look at the top 10 most valuable companies by market cap at the time of this writing.
Apple remains far and away the most valuable company in the world. While the tech giant has faced doubts for years since the death of its ingenious founder, Steve Jobs, it has continued to pump out products that people can't resist.
Apple is currently valued at $889 billion, more than $100 billion more than its closest competitor. Still, some think that the manufacturer will have some serious hurdles to face in the coming years and months, as their iPhones are becoming less and less affordable, and many users are jumping ship for alternatives.
Amazon, instead, conducts steady business in the retail industry, without any of the cost of maintaining a physical store. Similarly, the company draws consistent revenue from subscription services, such as Amazon Prime and Audible. Amazon has built itself a safety net by acquiring other companies at an enormous cost.
Finally, Amazon actually makes the majority of its money from web hosting services and cloud computing, which are only expected to grow in coming years.
Google's parent company, Alphabet, is currently valued at $763 billion, having just been surpassed by Amazon. According to CNN, the search engine giant is in serious danger over its handling of the Russian meddling in the 2016 U.S. election.
Analysts suspect that Google executives will be forced to appear before Congress, and possible even European lawmakers, to explain how subversive troll-farms were able to buy ads on YouTube, Gmail and other Google services.
Microsoft was also surpassed by Amazon not too long ago, with an equal amount of surprise. The PC manufacturer's present value is $717 billion, though the company is always working toward a comeback.
A Chinese multinational investment holding conglomerate known as Tencent Holdings Limited sits in the number five spot on the list of the ten most valuable companies in the world. Tencent reportedly specializes in Internet-related services and products, with an interest in branching out into artificial intelligence technology.
The company is currently worth $560 billion, and is the only non-American company on the list.
Warren Buffet's Berkshire Hathaway remains on the list of the world's most valuable companies, even beating out Facebook for the time being. Berkshire Hathaway is currently worth $506 billion.
The conglomorate is based in Omaha Nebraska, and wholly owns such businesses as Geico, Dairy Queen, Fruit of the Loom and Pampered Chef.
Out of all the other companies on this list, analysts believe Facebook is in the most imminent danger of being thrown off. The social media platform has lost 9% of its market capitalization in the past two days according to CNBC.
The scandal over mishandled user data has persisted far longer than executives might have hoped, and many have already lost faith in the company's eccentric CEO, Mark Zuckerberg.
Facebook is currently worth $488 billion.
JPMorgan Chase & Co. is currently valued at $397 billion. The New York City-based banking and financial services giant is the sixth largest bank in the world. While the company itself is worth just under $400 billion, its holdings are estimated at over $2.5 trillion.
CareAdvantage "is the J&J answer to the health care challenges of today." - #JNJ VP Strategic Capabilities for Medical Devices, EMEA Hugo Breda. @INVIVOnow shares more on our program: https://t.co/XAbuGfKv5J pic.twitter.com/R9CjM7nKjE— Johnson & Johnson (@JNJNews) March 1, 2018
Johnson & Johnson, perhaps best known for its heartwarming soap commercials, is actually a multinational manufacturer of medical devices, pharmaceuticals and consumer packaged goods. The company is worth $351.99 billion.
The multinational banking and financial services corporation, Bank of America, is valued at $327.6 billion. The second largest bank in the U.S. by assets, Bank of America is headquartered in Charlotte, North Carolina.