ExxonMobil held the world’s largest market capitalization when Apple overtook it in 2011.
ExxonMobil was formed in 1999 through the merger of Exxon and Mobil, two descendants of John D. Rockefeller’s Standard Oil. Its market value reflected the enormous scale of its oil, natural-gas, refining, and chemical operations.
Apple’s rise during the 2000s was driven by the iPod, iPhone, and expanding software ecosystem. In 2011, Apple’s market capitalization surpassed ExxonMobil’s, marking a highly visible shift in investor attention from traditional energy companies toward consumer technology.
Market capitalization is calculated by multiplying a company’s share price by its outstanding shares. It is not the same as revenue, assets, or enterprise value, and rankings can change whenever share prices move.