General Electric was the world's most valuable company by market capitalization in 2005, before later losing that position to ExxonMobil.
General Electric held the top market-capitalization position in 2005, when its diversified businesses spanned aircraft engines, power equipment, medical technology, appliances, media, and financial services. The company had become a symbol of the twentieth-century industrial conglomerate.
GE's valuation reflected the size and variety of its operations, particularly its large financial arm, GE Capital. That finance business helped earnings during the credit expansion but later increased the company's exposure to the global financial crisis. ExxonMobil subsequently moved ahead as energy prices and oil-company profits strengthened.
Market-cap rankings are snapshots rather than permanent titles. They can change because of share-price movements, changes in the number of shares, mergers, or shifts in investor expectations. GE's later history also included the 2013 sale of its remaining NBCUniversal stake and the 2021 separation of several major businesses.