Apple

Apple is not the worlds most valuable company compared to Saudi Aramco

Apple is not the worlds most valuable company. Saudi Aramco, a private company is worth at least double Apple’s amount, at least $1.2 Trillion

““Apple is most valuable firm of all time” says the Guardian. As does the Daily Telegraph, the BBC, The Register and more than 1,200 other news sites around the world.

The logic: “Shares in the tech giant hit a high of $664.75 (£422.50) in Monday morning trading, valuing the company at more than $619bn. The price topped the $618.9bn Microsoft achieved in December 1999.

“In January, Apple surpassed oil firm Exxon Mobil for the first time to become the most valuable company on the planet. It now dwarfs Exxon’s $405.6bn market value by more than $213bn.”

The problem?

Apple is not the worlds most valuable company compared to Saudi Aramco

It’s wrong.

The world’s most valuable firm is Saudi Aramco, the national oil company of Saudi Arabia.

Saudi Aramco has proven reserves of 260 billion barrels of oil. That is a fifth of all the oil in the world. And let’s not forget the 283 trillion cubic feet of natural gas reserves (the fourth largest in the world).”

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