Markets

Oil and gas before bits and bytes

DThe most valuable company in the world in terms of market capitalization is the Saudi Arabian oil company Saudi Aramco. After his initial public offering in December 2019, he immediately made it to the top of the table of the most valuable companies and at one go outstripped all American high-tech companies from Microsoft to Google. This is the result of the annual evaluation of the most expensive companies in the world by the auditing and consulting firm PWC.

Overall, it can be seen that prices have risen again in the past twelve months. The market capitalization of the 100 most valuable stock corporations increased again by around $ 400 billion within one year and stood at around $ 21.5 trillion (previous year: 21.1) trillion at the end of March 2020. This means that the market value of the 100 largest stock corporations has risen continuously since 2009 – with a minimal dip in 2016 – from $ 8.4 trillion at the time to $ 21.5 trillion now. There has been much speculation about the reasons. It was due to the triumphal march of digitalization that gave top companies in this field enormous growth rates (tendency towards monopolization) and profits (marginal costs close to zero). But it was also because of the low interest rates that poured a lot of money into the stock markets.

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