Amazon has overtaken Apple to become the world's most valuable brand, a new report has found.
According to the latest Brand Finance Global 500 Ranking, Amazon is now worth $150 billion, placing it firmly in the first spot. Apple is number two, valued at $146bn, with Google being a (relatively) distant third, worth $121bn.
Amazon has made this achievement thanks to the rise in value of more than 40 per cent. Apple is up 37 per cent, while Google grew 10 per cent.
“Jeff Bezos once said that ‘brands are more important online than they are in the physical world’. He has proved himself right by choosing the name Amazon, known as the largest, most powerful river in the world, as 23 years later the Amazon brand carries all before it as an unstoppable force," said Brand Finance chief executive David Haigh.
"The strength and value of the Amazon brand gives it stakeholder permission to extend relentlessly into new sectors and geographies. All evidence suggests that the amazing Amazon brand is going to continue growing indefinitely and exponentially.”
It was also said that, for the first time ever, tech companies make the top five. The three are accompanied by Samsung in the fourth spot, valued $92 billion, and Facebook, valued $90 billion. Facebook has also seen a 45 per cent growth.
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