Chinese internet giant Alibaba Group has become the world’s seventh-largest company by market capitalisation and Asia’s largest technology company by market capitalisation, Russian media said. As of December 20, Alibaba’s market value rose 60 percent from the end of last year to $570 billion, RIA Novosti reported on December 26th, citing Japan’s Nikkei Asia Review. By market capitalisation, Alibaba ranks seventh in the world, ahead of Berkshire Hathaway, which has a market capitalisation of $554bn.
The world’s most valuable company is Saudi Aramco. The company, which was listed on the 11th, has a market capitalisation of $1.89 trillion. The five companies that followed were all from the Us, Apple ($1.24 trillion), Microsoft ($1.2 trillion), Alphabet ($931 billion), Amazon ($886 billion) and Facebook ($588 billion).
In addition, China’s Tencent, ICBC, Ping An Insurance, China Construction Bank, Guizhou Maotai, Agricultural Bank and China Mobile ranked ninth, 20th, 38th, 40th, 41st, 46th and 49th. J.P. Morgan of the United States, Samsung Electronics of South Korea and Toyota Motor of Japan ranked 10th, 15th and 33rd.
Alibaba raised $25 billion when it went public on the New York Stock Exchange in 2014, according to the Nikkei Asia Review. In November, its shares began listing on the Hong Kong Stock Exchange, with investors buying $11bn of the company’s shares.