ExxonMobil was the world’s largest company by market capitalization at the end of 2010.
The American oil and gas corporation held the top position as 2010 ended, reflecting the enormous scale of the global petroleum industry and the importance of energy prices to stock valuations. ExxonMobil had also ranked among the world’s most valuable companies for much of the preceding decade.
Market-cap rankings are snapshots rather than permanent titles. They can change with share prices, currency movements, mergers, buybacks, and changes in investor expectations. Technology companies later displaced major oil producers at the top of many global rankings.
ExxonMobil was formed in 1999 through the merger of Exxon and Mobil, two companies whose histories trace back to Standard Oil. Its size is sometimes confused with annual revenue rankings, which measure sales rather than the value investors assign to the company’s equity.