The 2024 Global market capitalisation

  • Apple leads the global market with $3.863 trillion market capitalisation, followed closely by Nvidia at $3.355 trillion and Microsoft at $3.200 trillion.
  • Tesla ($1.385T) remains the most valuable automobile company, far ahead of traditional car manufacturers.
  • The highest-ranked non-tech company, Saudi Aramco, stands at $1.805 trillion.
  • Other trillion-dollar companies span industries such as finance (Berkshire Hathaway – $0.984T) and media (Meta – $1.514T).

The rankings show that while technology companies dominate, industries like energy, finance, media, and automobiles still hold significant market value. The presence of Saudi Aramco, Berkshire Hathaway, Meta, Tesla, and TSMC on the trillion-dollar companies list displays the continued influence of these sectors on the global economy.

Source:

Companies Market Cap

Period:

2024
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South Africa led Africa with $6.25bn of Chinese FDI stock in 2024, over 14% of the continent's total
  • South Africa held the largest Chinese FDI stock in Africa at $6.25 billion in 2024.
  • South Africa, DR Congo and Nigeria held 30% of Africa’s Chinese FDI stock.
  • The top 10 countries accounted for 64% of the continent’s total Chinese FDI stock.
  • Niger led the remaining top 10 countries with $2.45 billion, followed by Mozambique at $2.28 billion.

China's cumulative investment in Africa has stalled since peaking at $46.1bn in 2018
  • China's FDI stock in Africa rose 94-fold, from $491 million in 2003 to $46.1 billion in 2018.
  • By 2024, the stock had recovered to $43.8 billion, still 5% below its 2018 peak.
  • Africa accounted for just 1.4% of China's $3.14 trillion global FDI stock in 2024.
  • Nigeria's Chinese FDI stock fell from a 2017 peak of $2.86 billion to $2.72 billion in 2024.
  • African countries recorded a net $2.31 billion decline in Chinese FDI stock between 2018 and 2024.
  • Niger recorded the largest increase, from $758 million in 2018 to $2.45 billion in 2024.
  • Zambia recorded the largest decline, from $3.52 billion in 2018 to $1.70 billion in 2024.

Six Nigerian states raised more revenue through MDAs than taxes in 2025
  • Six states generated about ₦656 billion through MDAs in 2025, nearly half of all MDA revenue.
  • The number of states where MDAs accounted for over half of IGR fell from seven in 2024 to six in 2025.
  • Enugu’s MDA share rose from 82.9% in 2024 to 87.3% in 2025, widening its lead.
  • Kwara, Katsina and Osun recorded MDA shares of 61.6%, 60.1% and 58.5%, respectively.

Lagos, Rivers and the FCT generated 63.5% of state-level PAYE in 2025
  • Lagos, Rivers and the FCT collected 63.5% of state-level PAYE in 2025.
  • Lagos collected ₦993.3 billion in PAYE, more than the next five jurisdictions combined.
  • The top 10 jurisdictions accounted for 81.5% of ₦2.636 trillion in total PAYE.
  • The bottom five jurisdictions collected ₦47.0 billion combined, less than 2% of the total.
  • Delta collected ₦139.7 billion, less than half of the FCT’s ₦320.1 billion.

Arts & entertainment recorded the highest GDP growth in H1 2026
  • Nigeria’s economy grew 4.16% in H1 2026, but growth was uneven across sectors.
  • Arts and entertainment grew fastest at 11.5%, followed by water and waste management (10.9%) and information and communication (10.3%).
  • Agriculture, which accounts for about a quarter of GDP, grew 3.8%, below the headline rate.
  • Trade and real estate also lagged, growing 2.2% and 3.0%, respectively.
  • Electricity and gas was the biggest drag, contracting 11.6%, while Other Services fell 1.4%.

Year-on-year change in Nigeria's electricity, gas, steam and air conditioning supply GDP
  • Electricity, gas and related supply was Nigeria’s worst-performing broad economic activity in H1 2026.
  • Sector GDP fell 11.6% year-on-year, from ₦800.2bn to ₦707.1bn.
  • Output fell below H1 2024 levels, when the sector recorded ₦708.5bn.
  • Only one other broad activity contracted: Other Services, which fell 1.4%.
  • The sector contributed just 0.7% of Nigeria’s real GDP on average over the period shown.

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