Facebook joined the $1 trillion market-cap club in June 2021.
Facebook reached the milestone on June 28, 2021, when its share price rose after a U.S. federal court dismissed an antitrust lawsuit brought by the Federal Trade Commission. The company was then still named Facebook; it adopted the corporate name Meta Platforms in 2021.
The valuation reflected Facebook’s enormous advertising business and its family of widely used platforms, including Instagram, Messenger, and WhatsApp. Market capitalization measures the value investors assign to all outstanding shares, so legal news and expectations about future earnings can affect it immediately.
Facebook was the seventh U.S. company to reach a $1 trillion market capitalization. Its later rebranding to Meta emphasized the company’s investment in virtual and augmented reality.